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July 26, 2006
Urodynamix Successfully Raises $2,419,325
For Immediate Release
Vancouver, BC - (July 26, 2006) Urodynamix Technologies Ltd. (TSX.V: URO) has received $2,419,325 through the early exercise of 19,636,000 warrants under the warrant incentive program announced June 30, 2006. Board Members, Management and Employees contributed $1,110,425 million of the funds raised.
The proceeds of the early exercise will fund the commercialization of Urodynamix’s NIRS diagnostic and monitoring technologies.
Barry Allen, President and Chief Executive Officer, said, "We are confident these funds will be sufficient to complete the development, testing and regulatory approvals for our first NIRS product. We are delighted with the support and endorsement as shown by the early exercise of warrants by BC Advantage Funds, Board Members, Management, Employees and our other warrant holders. Over 74% of warrant holders took advantage of the program."
Post issue Urodynamix has 64,212,059 shares issued and 85,192,392 million shares fully diluted. Any warrants not exercised under the warrant incentive program will continue to be exercisable for common shares on the same terms that previously existed.
About Urodynamix Technologies Ltd.
Urodynamix Technologies Ltd. is the world leader in non-invasive measurement of bladder function and urological conditions. Urodynamix is focused on the development and commercialization of breakthrough diagnostic technology for bladder conditions specifically urinary incontinence (UI). Urodynamix is currently developing a family of non-invasive diagnostic and monitoring technologies for the over 200 Million UI sufferers worldwide.
On behalf of the Board,
“Barry Allen”
President & CEO
Urodynamix Technologies Ltd.
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:
Barry Allen
Email: ballen@urodynamix.com |
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