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March 11, 2005
MDX Medical Inc. Closes Private Placement
For Immediate Release
Vancouver, BC March 11, 2005 - MDX Medical Inc. (TSX.V:MDX)
MDX Medical Inc. is pleased to announce it has closed a non-brokered private placement announced on February 28th, 2005. The gross proceeds from the private placement raised is $278,000 through the sale of 3,707,000 units at $0.075. No commissions were paid in connection with this private placement.
Each unit consists of one common share plus one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.10 for a period of two years from the date of closing. The common shares and any shares issued on exercise of the warrants are subject to a four month hold period, which expires on July 11, 2005.
Proceeds from the private placement will be applied to the marketing and sale of 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. Al though 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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