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Medifocus Inc. Announces Units Offering |
July 06, 2012
TORONTO, ONTARIO--(Marketwire - July 6, 2012) - Medifocus Inc. (Medifocus) (TSX VENTURE:MFS)(OTCQX:MDFZF) announces, subject to regulatory approval, a non-brokered private placement of up to 26,666,666 units (the Units) at a price of $0.15 per Unit for anticipated gross proceeds of up to $4,000,000 (the Offering). Each Unit is comprised of one common share (a Common Share) and one Series C Common Share purchase warrant. Each Series C Common Share purchase warrant will entitle the holder to purchase one additional Common Share at a price of $0.20 for a period of 24 months following the completion of the Offering. If, at any time prior to July 8, 2014, the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange exceeds $0.75 for at least 10 consecutive trading days, Medifocus may, within 30 days of such occurrence, give an expiry acceleration notice to the holders of warrants and, if it does so, the warrants will, unless exercised, expire on the 30th day after the expiry acceleration notice is given.
http://www.marketwire.com/mw/release.do?id=1677360&sourceType=3
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