CMDF shareholders approve merger

    TORONTO, Feb. 27 /CNW/ - The Canadian Medical Discoveries Fund Inc. (CMDF
or the Fund) announced today that the shareholders of CMDF approved the
previously announced proposal to merge CMDF with GrowthWorks Canadian Fund
Ltd. at its Annual and Special Meeting held February 26, 2009. The completion
of the merger remains subject to a number of conditions, including the
execution of definitive agreements and regulatory approval. If all conditions
are satisfied, it is anticipated that the merger would be completed sometime
in second quarter of the 2009 calendar year.

    About Canadian Medical Discoveries Fund Inc. (

    CMDF is one of Canada's most mature health sciences retail venture
capital funds, with approximately $120 million in managed assets. Established
in 1994, CMDF has venture capital investments in approximately 35 companies
involved in health sciences, biotechnology, diagnostics, medical devices, drug
discovery and development, health care delivery services and e-health.

    Further information can be found in the disclosure documents filed by the
Fund with the securities regulatory authorities, available at

For further information:

For further information: Steve Hawkins, President and CEO, Canadian
Medical Discoveries Fund Inc., (416) 601-2442

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