News | September 07, 2009

Medipattern Closes on a $2.5M Financial Injection

September 8, 2009 - The Medipattern Corp., an imaging workflow software developer, announced last week it closed a non-brokered private placement (the "Offering") of 2,500,000 common shares in the capital stock of the company at $0.20 per common share, for gross proceeds of $500,000.00 to the company.

As was the case for the $2 million raised under the same terms earlier in the summer, proceeds from the Offering will be used for general working capital purposes of the company, including the further development of its Vascular iQ initiative and to continue building on the success of its B-CAD-FOR-LIFE solution.
The common shares issued under the Offering will be subject to a four month and one day resale restriction commencing from the date of issuance. The Offering is subject to TSX Venture Exchange final acceptance of the requisite regulatory filings.

Medipattern offers B-CAD advances breast ultrasound computer aided detection (CAD) by streamlining workflow and organizing information into a comprehensive patient record. Medipattern uses its Cadenza CAD technology to power the digital conversion in medical communications. B-CAD automatically creates fully digital standardized worksheets and reports that make every practice more efficient, productive and ultimately more effective.

For more information: www.medipattern.com

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