Lars Hoie - Announcement - Acquisition of Shares of Medicure Inc.

    TORONTO, Oct. 15 /CNW/ - Dr. Lars Hoie ("Dr. Hoie") announces he has
recently acquired beneficial ownership of 13,043,478 units ("Units") issued by
Medicure Inc. ("Medicure"). The Units were issued at a purchase price of
US$1.15 per Unit. Each Unit consists of a common share of Medicure (a "Common
Share") and 0.30 of a common share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant entitles the holder thereof to acquire one Common
Share at a price of US$1.50 for a period of 5 years from the date of issuance.
The Common Share were acquired pursuant to a private placement completed by
    Immediately after the transaction, Dr. Hoie owned directly or indirectly
17,994,030 Common Shares, representing 13.8% of the issued and outstanding
Common Shares. In addition, Dr. Hoie owned 4,674,573 Warrants. If all of these
Warrants were exercised, Dr. Hoie would own an aggregate of 22,668,603 Common
Shares, representing approximately 16.8% of the then issued and outstanding
Common Shares (assuming no other Warrants were exercised). Subsequently, Dr.
Hoie purchased 2,024,200 common shares of Medicure on the TSX.
    Dr. Hoie purchased the securities for investment purposes. Dr. Hoie
reserves the right to acquire further securities of Medicure depending on
market conditions and other relevant factors.

    The Common Shares of Medicure trade on the Toronto Stock Exchange.

    An early warning report in respect of the above noted transactions will
be filed on SEDAR.

For further information:

For further information: A copy of this report and further information
can be obtained from: Lars H. Hoie, 8 Blenheim Road, London, NW8 OLU, England,
Tel: +47 2331 0880

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