News | October 15, 2009

Medipattern Raises Capital, Revinests in CAD

The Medipattern Corp., a medical software development company, reported it has closed a non-brokered private placement (the "Offering") of 1,000,000 common shares in the capital stock of the Company at $0.20 per common share, for gross proceeds of $200,000.00 to the Company.

As was the case for the $2.5 million raised under the same terms in the summer and early fall of 2009, proceeds from the Offering will be used for general working capital purposes of the Company, including the continued development of its highly successful 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.

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