MedMira Announces Completion of Equity Line Draw Down

    HALIFAX, Sept. 11 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ:   MMIRF), a developer and marketer of rapid diagnostic technology and
solutions, announced today that it has completed the draw down against its
equity line of credit with YA Global Investments LP which was announced on
August 21, 2009. MedMira will use this capital to support new and ongoing
sales and business development action plans.
    Under the terms negotiated in the equity line, YA Global Investments has
purchased 2,604,639 common shares from MedMira at an average price of $ 0.0576
which is 96.5% of the daily volume weighted average price ("VWAP") over a 10
day pricing period, beginning on August 24, 2009 and ending on September 4,
2009 for net proceeds of $142,500.00 representing the draw down amount
($150,000.00) less a 5% utilization fee. The shares are not subject to a hold

    About MedMira

    MedMira is a leading developer and manufacturer of flow-through rapid
diagnostics. The company's tests provide hospitals, labs, clinics and
individuals with reliable, rapid diagnosis for diseases such as HIV and
hepatitis C in just three minutes. The company's tests are sold under the
Reveal(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global
markets. MedMira's rapid HIV test is the only one in the world to achieve
regulatory approvals in Canada, the United States, China and the European
Union. MedMira's corporate offices and manufacturing facilities are located in
Halifax, Nova Scotia, Canada. For more information visit MedMira's website at

    This news release contains forward-looking statements, which involve risk
and uncertainties and reflect the company's current expectation regarding
future events. Actual events could materially differ from those projected
herein and depend on a number of factors including, but not limited to,
changing market conditions, successful and timely completion of clinical
studies, uncertainties related to the regulatory approval process,
establishment of corporate alliances and other risks detailed from time to
time in the company quarterly filings.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this statement.
    %SEDAR: 00013053E

For further information:

For further information: Andrea Young, MedMira, (902) 450-1588,

Organization Profile

MedMira Inc.

More on this organization

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