CRH Medical closes private placement



    
    /NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE
    UNITED STATES/
    

    VANCOUVER, April 7 /CNW/ - CRH Medical Corporation (CRM:TSX-V) (the
"Company") announced today that it has completed its previously announced
private placement (the "Offering") with Canaccord Capital Corporation (the
"Agent") whereby the Agent placed 2,728,719 units (the "Units") at $0.78 per
unit, for aggregate gross proceeds of up to approximately $2.128 million.
    Each Unit is comprised of one common share in the capital of the Company
(a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each
Warrant will entitle the holder thereof to purchase one Common Share for a
period of three years from the closing date of the Offering at an exercise
price of $1.00 per Common Share except that if over a period of 20 consecutive
trading days between the date that is 4 months following the closing date and
the expiry of the Warrant, the daily volume weighted average trading price of
the Common Shares exceeds $2.50 on each of those 20 consecutive days, the
Company may give notice in writing to the Warrant holders that the Warrants
shall expire at 4:00 p.m. (Vancouver time) on the 20th day following the
giving of such notice unless exercised by the holders prior to such date.
    The Company paid the Agent a cash commission of 7% of the gross proceeds
of the Offering, paid as to $35,334.26 in cash, and the balance as to 145,710
commission units with the same terms as the Units of the Offering. In
addition, the Agent received warrants ("Agent's Warrants") to purchase the
number of Units equal to 5% of the number of Units sold in the Offering. Each
Agent's Warrant will be exercisable to acquire one Unit at $0.78 expiring 24
months after the closing date.
    The Company also completed a concurrent non-brokered private placement
(the "Non-Brokered Offering") of 220,000 Units for aggregate gross of proceeds
of $171,600. The Agent did not participate in the sale of, or receive a
commission on, the non-brokered Units.
    The Units issued in the Offering and the Non-Brokered Offering, the
Agent's commission Units and the Agent's Warrants are subject to a four-month
holder period that expires on August 8, 2008.
    Net proceeds from the Offering and the Non-Brokered Offering will be used
to fund the training and adoption by physicians in the US of the Company's
proprietary CRH O'Regan Hemorrhoid Banding Technology.
    The securities to be offered have not been and will not be registered
under the United States Securities Act of 1933, as amended ("U.S. Securities
Act"), and may not be offered or sold in the United States or to, or for the
account or benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements of the U.S. Securities Act. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy such securities in the United States or in any other jurisdiction
where such offer is unlawful.

    About CRH Medical Corporation:

    CRH Medical Corporation specializes in the treatment of hemorrhoids
utilizing its proven treatment protocol and patented proprietary technology.
CRH's single use, disposable, hemorrhoid technology is safe and highly
effective in treating hemorrhoid grades I - IV. CRH Medical employs two
commercialization strategies: First, it operates Centers for Colorectal Health
facilities in the United States specializing in the treatment of hemorrhoids
and fissures, and colon cancer screening. In addition CRH distributes its
hemorrhoid banding technology, treatment protocols, operational and marketing
expertise as a complete, "turn key" package directly to its partner
physicians. The Company's goal is to establish the CRH hemorrhoid technology
as the standard for hemorrhoid treatment.

    The information in this news release contains so-called "forward-looking"
statements. These include, but are not limited to, statements regarding: CRH
Medical expectations, beliefs, intentions or strategies for the future and
expectations as to the use of proceeds from the Offering and Non-Brokered
Offering and the results of its future operations. In certain cases, forward
looking statements can be identified by the use of words or phrases such as
"anticipate", "expect", "intend", "plan", "will", "we believe", "CRH Medical
believes", "management believes" and similar language. All forward-looking
statements are based on CRH Medical current expectations, and are subject to
risks and uncertainties, assumptions made, and other factors which may cause
the actual results, performance or achievement of CRH Medical to be materially
different from any future results, performance or achievements expressed or
implied by the forward looking statements. Such factors include market
conditions, global political uncertainties, investor demand and the timing and
final terms of the Offering. CRH Medical disclaims any intention or obligation
to update any forward-looking statement even if new information becomes
available as a result of future events or for any other reason.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    





For further information:

For further information: Dean Linden, Corporate Communications, CRH
Medical Corporation at (604) 633-1440 or ir@crhmedcorp.com; Additional
information may also be found by visiting the Company's website at
www.crhmedcorp.com or the SEDAR website at www.sedar.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890