Vigil Health Solutions Inc.
TSX VENTURE : VGL

Vigil Health Solutions Inc.

December 20, 2007 13:07 ET

Vigil Health Solutions Announces Private Placement Financing

VICTORIA, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2007) - Vigil Health Solutions Inc. ("Vigil") (TSX VENTURE:VGL) is pleased to report its intent to complete a non-brokered private placement with accredited investors to raise gross proceeds of up to CDN $700,000. Pursuant to the financing, Vigil will offer up to 14,000,000 units at a price of $0.05 for gross proceeds of CDN $700,000. Each unit will consist of one common share and one half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.10 per share for a period of twenty four months from the closing date of the private placement. The Company intends to use the net proceeds from the private placement to provide additional working capital for business growth and fund further product development.

The offering is expected to close on or about January 30, 2008. The closing of the offering is subject to the customary closing conditions and receipt of all regulatory approvals.

About Vigil Health Solutions Inc.

Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding aged care market. Vigil has established a growing presence in North America and an international reputation for being on the leading edge of systems design and integration. The Vigil Integrated Care Management System™ (Vigil® System) includes nurse call, wireless nurse call, two-way voice nurse call, wireless pendants, resident check-in and a unique non-invasive monitoring system for dementia residents who often do not equate pushing a button with getting help. The first to supply dementia specific care technology, Vigil facilitates the highest standard of care for cognitive residents while helping dementia residents enjoy a higher quality of life and greater dignity.

Certain information contained in this news release may constitute forward-looking statements within the meaning of applicable securities laws. Forward looking statements may include estimates, plans, expectations, opinions, forecasts or other statements that are not statements of fact. Although the Company believes that the expectations are reasonable, actual events or results may differ from the Company's expectations.

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

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