By Sheri Kasprzak
New York, July 11 - Med-Emerg International Inc. raised $3.5 million from a private placement of series 1 special shares.
The company issued 8.75 million of the special shares at $0.40 apiece to Calian Technologies Ltd.
The special shares are exchangeable for common shares before July 11, 2011 on a one-for-one basis.
Based in Mississauga, Ont., Med-Emerg provides staffing services to the health care industry.
| Issuer: | Med-Emerg International Inc.
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| Issue: | Series 1 special shares
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| Amount: | $3.5 million
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| Shares: | 8.75 million
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| Price: | $0.40
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| Exchange rate: | On a one-for-one basis for common stock before July 11, 2011
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| Warrants: | No
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| Investor: | Calian Technologies Ltd.
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| Settlement date: | July 11
|
| Stock symbol: | OTCBB: MDER
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| Stock price: | $0.28 at close July 11
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