MedMira Inc V.MIR

Alternate Symbol(s): MMIRF

Healthcare Medical Devices

MedMira Inc. is a Canada-based biotechnology company. The Company, through its subsidiaries, is engaged in the business of research, development and manufacturing of rapid diagnostics and technologies. The Company invests in research in order to maintain and expand its position in the global diagnostics market. Its research is focused on specific areas of the broader diagnostics market, namely the rapid, point-of-care, and in vitro sectors. The Company is the developer and owner of Rapid Vertical Flow (RVF) Technology. The Company's rapid test applications built on RVF Technology provide hospitals, labs, clinics and individuals with instant diagnosis for diseases such as Human Immunodeficiency Virus (HIV), Syphilis and hepatitis C in just three easy steps. The Company's tests are sold under the Reveal, Multiplo and Miriad brands in global markets. The Company's manufacturing facilities are located in Halifax, Nova Scotia, Canada.

TSXV:MIR - Post by User

MedMira Inc

Bullboard Posts

Comment by MaxTon Sep 11, 2009 6:23pm

235 Views

Post# 16299272

RE: $$$$1.5 Million PP

Here is the correction....idiots..lot of difference between a drawdown with YA Global and a PP with a hidden placee !! (imo)

MedMira completes equity line drawdown with YA Global

2009-09-11 17:00 ET - News Release

Ms. Andrea Young reports

MEDMIRA ANNOUNCES COMPLETION OF EQUITY LINE DRAW DOWN

MedMira Inc. has completed the drawdown against its equity line of credit with YA Global Investments LP which was announced in Stockwatch on Aug. 21, 2009. MedMira will use this capital to support new and continuing sales and business development action plans.

Under the terms negotiated in the equity line, YA Global Investments has purchased 2,604,639 common shares from MedMira at an average price of 5.76 cents which is 96.5 per cent of the daily volume weighted average price (VWAP) over a 10-day pricing period, beginning on Aug. 24, 2009, and ending on Sept. 4, 2009, for net proceeds of $142,500 representing the drawdown amount ($150,000.00) less a 5-per-cent utilization fee. The shares are not subject to a hold period.