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Home arrow BioTech arrow MedMira Announces Draw Down of Equity Line
MedMira Announces Draw Down of Equity Line PDF Print E-mail
Wednesday, 12 April 2006
MedMira Inc.,  the global market leader in premium rapid diagnostic solutions, announced today that it has submitted a draw down notice for $12,000 to Cornell Capital Partners, LP (“Cornell”) against its equity line of credit. Proceeds from this draw down will be applied as a principal payment against the convertible debenture from Cornell announced on February 27, 2006. Under the terms negotiated in the equity line, Cornell will purchase $12,000 of common
shares from MedMira at a price which will be calculated based on 96.5% of the daily
volume weighted average price (“VWAP”) over a 10 day pricing period, beginning on
April 13, 2006. The draw down is scheduled to be settled on April 28, 2006.
First Purchasers (as defined in the Prospectus) of MedMira common shares issued in
relation to this draw down notice have certain statutory rights of rescission or damages
for a period of 40 days from the settlement date. The terms of the equity line financing,
and the rights of First Purchasers are described in more detail in a prospectus dated
November 21, 2005 (the “Prospectus”) which is available on the Company’s web site at
www.medmira.com and on SEDAR at www.sedar.com.

The issuance of the MedMira common shares with respect to this draw down is subject
to the approval of the TSX Venture Exchange.

About MedMira

MedMira is the leading global manufacturer and marketer of in vitro flow-through rapid
diagnostic tests. MedMira’s tests provide reliable, rapid diagnosis in just 3 minutes for the
detection of human antibodies in human serum, plasma or whole blood for diseases such as HIV
and hepatitis C. The United States FDA and the SFDA in the People’s Republic of China have
approved MedMira’s Reveal® G2 and MiraWell® rapid HIV tests, respectively.
MedMira’s Reveal® G2 and MiraWell® rapid HIV tests are currently used in clinical laboratories,
hospitals, and clinics where professional counselling and patient treatment are immediately
available.
The MiraCare™ Rapid HIV Antibody Test is available over-the-counter (OTC) in pharmacies
throughout Hong Kong and Macao Special Administrative Regions, in the People’s Republic of
China. MiraCare™ is sold through MedMira’s distributor network to pharmacies, hospitals and
laboratories in the European Union.
-moreMedMira
delivers rapid diagnostic solutions to healthcare communities around the globe. Its
corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada with a
representative office in Guilin, China.
This news release contains forward-looking statements, which involve risk and uncertainties and reflect the
company’s current expectation regarding future events. Actual events could materially differ from those
projected herein and depend on a number of factors including, but not limited to, changing market
conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory
approval process, establishment of corporate alliances and other risks detailed from time to time in the
company quarterly filings.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this statement.
For more information visit MedMira’s website at www.medmira.com.




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