Thursday, 21 June 2007

Final Tranche Of Private Placement To Be Completed

Med BioGene Inc. (MBI - TSX V) announces the close of the second and final tranche of its' previously announced private placement will be completed June 29th, 2007. There were 677,500 units purchased at $.45 per unit for aggregate gross proceeds of approximately $305,000.

This completes the previously announced first tranche of the private placement that closed June 1st, 2007 that resulted in gross proceeds of approximately $3.07 million.

The proceeds of this private placement are to advance the development of its' Gene Expression Profiling System for Lymphoma, Leukemia, Colorectal Cancer and Cardiovascular disease as well as general corporate purposes.

To view press release click here.