On November 27, 2009, Medicago Inc. (TSX-V: MDG) announced the closing of its previously announced bought deal financing of subscription receipts. The offering was conducted through a syndicate of underwriters led by Paradigm Capital Inc., as lead underwriter, together with Bloom Burton & Co. and Dundee Securities Corporation. The underwriters exercised their over-allotment option in full bringing the total gross proceeds from $10,080,000 to $11,592,000. The offering was made pursuant to a short form prospectus dated November 19, 2009 and filed in the provinces of Quebec, Ontario, Alberta, Saskatchewan and British Columbia. Medicago is a biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles ("VLP"). The proceeds from the offering will be used to support the implementation of Medicago's business plan, namely the continued clinical development of Medicago's plant manufactured Influenza VLP vaccines and for general corporate and working capital purposes. The underwriters were advised by Fasken Martineau with a team led by Jean-Pierre Chamberland and that included, among others, Gabriel Castiglio, assisted by student-at-law Andrew Bitten.