Medical Ventures Corp.
TSX VENTURE : MEV

Medical Ventures Corp.

April 02, 2007 13:15 ET

Medical Ventures Corp. Announces Equity Offering

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

MEDICAL VENTURES CORP. (TSX VENTURE:MEV) is pleased to announce that it has entered into an agreement with a syndicate of Agents led by Cormark Securities Inc. (formerly Sprott Securities Inc.) and including Blackmont Capital Inc. (the "Agents") pursuant to which the Agents are appointed exclusive agents to raise a minimum of C$5 Million, and up to C$10 Million through the sale of units of Medical Ventures on a best efforts basis. The units will consist of one common share and one-half of one transferable common share purchase warrant, where each whole warrant will entitle the holder to purchase an additional common share of the Company for a period of 18 months from the closing of the offering. The agents will be granted an over-allotment option, exercisable within 30 days of the closing of the offering, entitling them to sell up to that number of additional units equal to 15% of the number of units sold under the offering.

Net proceeds of the offering will be used to fund the clinical trial for Gemini Angioplasty and Arterial Measurement Evaluation, to further the commercialization of the Metricath System, and for general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Medical Ventures develops, manufactures and distributes medical devices. The Company is currently focused on the development and commercialization of medical devices that address clinical needs in the vascular and surgical marketplace. The Company's strategy is to acquire and develop medical technologies that are within two years of commercialization and to increase the value of those technologies through the commercialization process.

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

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