ZoomMed Announces the Closing of a Private Placement of $1.5 Million
30 Septembre 2011 - 2:45PM
Marketwired
ZoomMed Inc. (TSX VENTURE:ZMD) (the "Corporation") announces the
closing of a private placement of a secured convertible debenture
and warrants for a total amount of $1,500,000, subject to the final
approval of the TSX Venture Exchange and others regulatory
authorities. The agent appointed for this private placement was
Avenue Capital Markets Inc., an arm's length party.
"After robustly developing the Prescriber ZRx and investing to
build the platform for exchange of information most used by
Canadian doctors, it is time to turn to the lucrative American
market. In a context where the timing is extremely conducive to the
strategic positioning of ZoomMed in the United States, we decided
to get additional funding", said Mr. Yves Marmet, President and
Chief Executive Officer of the Corporation.
A secured convertible debenture (the "Convertible Debenture")
was issued for a principal amount of $1,500,000, such Convertible
Debenture being convertible at the sole option of the holders
thereof into common shares of the share capital of the Corporation
(the "Common Shares") on the basis of one common share for each
$0.15 in principal amount of Convertible Debenture. Furthermore,
10,000,000 Common Shares purchase warrants (the "Warrants") were
issued. Each Warrant entitles the holder thereof to purchase one
common share at a price of $0.15 per share for 24 months following
the closing date.
The Convertible Debenture matures 24 months from the date of
issuance or such earlier date which may be provided for as a
redemption feature. Subject to certain conditions, the Corporation
may redeem all or any portion of the Convertible Debenture upon 30
days written notice to the holders thereof in which case such
holders may exercise their conversion rights, in whole or in part,
prior to the intended date of redemption. The Convertible Debenture
bears interest at a rate of 15% per annum. The Convertible
Debenture is secured by a charge on the assets of the Corporation
and a promissory note.
Avenue Capital Markets Inc., a Montreal-based Exempt Market
Dealer, acted as agent for this private placement and received a
cash fee equivalent to 10% of the gross proceed of the private
placement.
About ZoomMed
ZoomMed's developed the ZRx Prescriber, a technological
innovative Web application that enables physicians to use a
wireless device, such as the IPod Touch(TM), IPhone(TM), IPad(TM),
Google Android(TM), other PDA's or computers, to write and rapidly
deliver scripts. The ZRx Prescriber is quick, efficient and
intuitive. Since it is a stand-alone product, it can easily be
integrated to any Electronic Medical Record application (EMR).
Furthermore, ZoomMed also offers "PraxisLab" a new application that
enhances all aspects of the prescription filling process and the
complete pharmacists patient file management. PraxisLab uses
state-of-the-art protocols and up-to-date software standards,
allowing high compatibility with existing software, as well as new
generation software.
About Avenue Capital Markets
Avenue Capital Markets Inc. is an independent exempt market
dealer dedicated to supporting the growth of small to mid cap
companies located primarily in Quebec. Avenue provides dynamic
entrepreneurs with access to capital markets, corporate advisory
services and experienced mentor networks.
For further information about Avenue Capital Markets, please
visit our Web Site: www.avenuecapitalmarkets.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Mr. Yves Marmet President and Chief Executive Officer
(450) 678-5457, Ext 228info@zoommed.comwww.zoommed.com
Zoommed (TSXV:ZMD)
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