Medifocus Inc.
TSX VENTURE : MFS
OTCQX : MDFZF

Medifocus Inc.

August 13, 2012 18:27 ET

Medifocus Inc. Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2012) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Medifocus Inc. (Medifocus or the Company) (TSX VENTURE:MFS)(OTCQX:MDFZF) announces that it has received final TSX Venture Exchange approval for its previously announced private placement of 40,567,253 units (each a Unit) at a price of $0.15 per Unit for gross proceeds of $6,085,088. Each Unit is comprised of one common share (a Common Share) and one Series B Common Share purchase warrant (a Warrant). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.20 for a period of 24 months following the completion of the offering. 18,367,253 of the Common Shares and Warrants issued in connection with the private placement, and any Common Shares issued upon the exercise of such Warrants, will have a hold period in Canada until October 9, 2012 and the remaining 22,200,000 Shares and Warrants issued in connection with the private placement, and any Common Shares issued upon the exercise of such Warrants, will have a hold period in Canada until October 22, 2012.

Further information about private placement can be found in the Company's June 8, 2012 and June 21, 2012 press releases.

Medifocus owns a patented microwave focusing technology platform (the Adaptive Phased Array ("APA") technology), which can precisely target and control microwave energy to cause heating in cancerous tumors anywhere in the body reliably and repeatedly. The ability to target tumors with a precision controlled dose of heat can be used to destroy tumors at higher temperatures, to treat tumors in combination with chemotherapy and/or radiation at moderate temperatures for increased effectiveness and reduced toxicity and to trigger the targeted release of therapeutic drugs and genes at tumor sites at lower temperatures. While the core technology has been licensed from the Massachusetts Institute of Technology, Medifocus has further refined the precision of the microwave focusing and control ability and developed a commercial system dedicated exclusively for the treatment of Breast Cancer. Please visit www.medifocusinc.com for more details.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the proposed transactions and neither of the foregoing entities has approved or disapproved of the contents of this press release.

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