Medifocus Inc V.MFS

Primary Symbol: MDFZF

Healthcare Biotechnology

Medifocus Inc develops and sells minimally invasive focused heat systems for the treatment of cancerous and benign tumors, and enlarged prostate, medically known as Benign Prostate Hyperplasia (BHP). It owns two focused heat technology platforms, The Endo-thermotherapy Platform-from which Prolieve was developed, can be used to treat cancers in prostate, rectal, cervical and esophageal, and The Adaptive Phased Array Microwave Focusing Platform which directs precisely focused microwave energy at tumor center to induce shrinkage or eradication of tumors without undue harm to surrounding tissue. The company through its operations generates revenue from the United States.

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Medifocus Inc

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Post by Highrider7on Mar 05, 2014 12:36pm

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Post# 22283670

FINANCING EXTENDED

Looks like they have extended the proposed financing once again until March 29th / 2014. Had to go to Sedar to find it in their latest financial statements.

19. SUBSEQUENT EVENTS

On December 17, 2013, the Company closed $3,540,000 of its previously announced non-brokered private placement of up to $6,000,000 worth of units (the Units) at a price of $10,000 per Unit (the Offering). The Company extended the financing to March 29014 in order to close the balance of the financing. ach Unit consists of (i) redeemable promissory notes, bearing 8% annual interest payable on a quarterly basis (Notes), which are convertible into common shares (Common Shares) at a conversion price of $0.25 per Common Share, and which are payable 36 months after the closing of the Offering; and (ii) 20,000 Common Share purchase warrants ("Series C Warrants"). Each Series C Warrant will entitle the holder to purchase one additional Common Share at a price of $0.30 per Common Share for a period of 36 months following the completion of the Offering.