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Published on 3/25/2015 in the Prospect News PIPE Daily.

MedMira plans C$1.1 million private placement of units with OnSite Lab

Offering to finance sales and marketing, product launches and growth

By Devika Patel

Knoxville, Tenn., March 25 – MedMira Inc. said it has arranged a C$1.1 million private placement of units with OnSite Lab Holding AG.

The company will sell 22 million units of one common share and one warrant at C$0.05 per unit. Each four-year warrant will be exercisable at C$0.10, a 150% premium to the March 24 closing share price of C$0.04.

Proceeds will be used for sales and marketing, product launches and growth.

MedMira, based in Halifax, N.S., manufactures and markets in vitro flow-through rapid diagnostic tests.

Issuer:MedMira Inc.
Issue:Units of one common share and one warrant
Amount:C$1.1 million
Units:22 million
Price:C$0.05
Warrants:One warrant per unit
Warrant expiration:Four years
Warrant strike price:C$0.10
Investor:OnSite Lab Holding AG
Pricing date:March 25
Stock symbol:TSX Venture: MIR
Stock price:C$0.04 at close March 24
Market capitalization:C$24.14 million

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