Medical Ventures Corp.

Medical Ventures Corp.

April 11, 2007 16:58 ET

Medical Ventures Corp. Announces Pricing of Equity Offering

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - April 11, 2007) -


MEDICAL VENTURES CORP. (TSX VENTURE:MEV) is pleased to announce that the pricing for its financing announced on April 2, 2007 has now been established. The offering will consist of a minimum of 25 million units and a maximum of 50 million units priced at $0.20 per unit for minimum proceeds of $5 million and maximum proceeds of $10 million. Each unit 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 at a price of $0.25 per share. The offering will be conducted by a syndicate of Agents led by Cormark Securities Inc. (formerly Sprott Securities Inc.) and including Blackmont Capital Inc. 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 news 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.

About Medical Ventures Corp.:

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.

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates", "believes", "may", "continues", "estimates", "expects", and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with Canadian securities regulators. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements.

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

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