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PharmaGap Completes Initial Close of Private Placement

September 22, 2011

OTTAWA, ONTARIO--(Marketwire - Sept. 22, 2011) - PharmaGap Inc. (TSX VENTURE:GAP)(OTCBB:PHRGF) ("PharmaGap" or "the Company") announced today that it has completed the conditional closing of a private offering of up to 6,250,000 equity units (the "Units") for a net aggregate amount (if fully subscribed) of up to $500,000. A total of 2,190,125 units have been subscribed in this conditional closing at a price of $0.08 per Unit, for gross proceeds of $175,210.

http://www.marketwire.com/mw/release.do?id=1564291&sourceType=3
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