The Medipattern Corporation
TSX VENTURE : MKI

The Medipattern Corporation

August 17, 2007 11:28 ET

Medipattern Announces Closing of Over-Allotment Option From Bought-Deal Financing

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Attention: Business/Financial Editors:

The Medipattern Corporation (TSX VENTURE:MKI), an award-winning developer of computer-aided diagnosis (CAD) medical imaging software designed to detect cancer and permit a higher standard of care for the millions of patients at risk of cancer, today announced that it has closed a portion of the over-allotment option under its bought deal (the "Offering") with Research Capital Corporation. Medipattern issued 473,900 common shares at a price of $1.10 per share for aggregate gross proceeds of $521,290. Research Capital Corporation also received a Compensation Option, exercisable for a period of 24 months following the closing date, to purchase up to an additional 28,434 common shares at $1.10 per share.

With the partial exercise of the over-allotment option, the aggregate gross proceeds of the Offering are now $5,724,290.

The Medipattern Corporation

Medipattern develops computer-aided diagnosis (CAD) solutions for medical imaging. These products enhance workflow while improving interpretive and diagnostic confidence. The Company's initial clinical applications are B-CAD™ for breast ultrasound and B-CAD MRI™. Both have received awards for innovation in the industry. The B-CAD products use pattern recognition technology to assist radiologists in their efforts to classify and characterize lesions in images of the breast. Medipattern was founded to design software products that detect and identify lesions in breast imaging to support a higher standard of medical care. Please visit the Company's website at: www.medipattern.com.

B-CAD™ and B-CAD MRI™ are trademarks of The Medipattern Corporation.

Medipattern® is a registered mark of The Medipattern Corporation.

Forward-looking statements

This document contains forward-looking statements relating to Medipattern's performance, operations, or business environment. These statements are based on what we believe are reasonable assumptions given currently available information and our understanding of Medipattern's current activities. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates,'' "believes,'' "estimates,'' "expects,'' "plans,'' "intends,'' "potential'', and similar expressions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements. These factors include but are not limited to those set forth in the Company's corporate filings, (posted at www.sedar.com). In addition, these forward-looking statements relate to the date on which they are made. The Company disclaims any intention or obligation to update or revise any forward-looking statements for any reason. Readers should not rely on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this release.

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