Medipattern closes US$5.2 million bought-deal financing

On August 2, 2007, Medipattern Corporation announced that it had closed its bought deal with Research Capital Corporation. Medipattern issued 4,730,000 common shares at a price of $1.10 per share for aggregate gross proceeds of $5,203,000. On August 17, Research Capital partially exercised an over-allotment option for additional proceeds of $521,290, for aggregate gross proceeds of the offering of $5,724,290. Medipattern is an award-winning developer of computer-aided diagnosis (CAD) medical imaging software designed to detect cancer and permit a higher standard of care for the millions of patients at risk of cancer. Research Capital was advised in this transaction by Rubin Rapuch, Jeffrey Klam, Catherine Fraser, David Turgeon and Leanne Shaughnessy of Fasken Martineau.