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February 28, 2005
MDX Medical Inc. Announces Non-Brokered Private Placement
For Immediate Release
Vancouver, BC February 28, 2005 - MDX Medical Inc. (TSX.V:MDX)
On behalf of the Board of Directors, Mark Thomson, President, is pleased to announce the Company is conducting a Non-Brokered Private Placement of up to 4,000,000 units of the company at a price of $0.075 per unit. Each unit will be comprised of one common share and one full warrant. Each whole warrant will entitle the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share. The securities issued by this private placement will be subject to a four month hold from the date of closing and is subject to regulatory approval.
Proceeds from this private placement will be applied to the marketing and sales of MDX Medical's first product "The AVID System" and general working capital purposes.
About MDX Medical
MDX is focused on commercializing innovative and leading-edge medical device technologies for improved diagnosis and treatment of cancer and other life-threatening diseases. The Company's business strategy is to acquire promising technologies that have reached the "proof of feasibility" or later stages of product development, complete the final stages of commercialization, obtain the required regulatory approvals and pursue strategic marketing partners. For more information about MDX, please visit our website at: www.mdxmedical.com.
On behalf of the Board,
"Mark Thomson"
President, MDX Medical Inc.
Certain information contained in this press release may be forward looking and is subject to unknown risks, which could cause actual results to differ materially from those, set forth or implied herein. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove correct.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Larry Horsburgh
Phone: (604) 694-7770, Ext. 112
Email: lhorsburgh@mdxmedical.com |
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