The Medipattern Corporation

The Medipattern Corporation

March 30, 2006 16:15 ET

The Medipattern Corporation: Sprott Asset Management and Sebago Partners Agree to Private Placement for Gross Proceeds of $2.5 Million

TORONTO, ONTARIO--(CCNMatthews - March 30, 2006) -

Attention: Business/Financial Editors

The Medipattern Corporation (TSX VENTURE:MKI), an award-winning developer of software applications for medical imaging, is pleased to announce the terms of a non-brokered private placement for gross proceeds of $2,500,000 to Medipattern. The placement will consist of 5,000,000 common shares in the capital of Medipattern at $0.50 per common share. Sprott Asset Management are subscribing for $2,000,000 and Sebago Partners Offshore Limited for $500,000. The common shares issued under the private placement are subject to a four-month restriction, and the entire placement is subject to TSX Venture Exchange approval. Closing is expected to be completed on or before April 15th, 2006.

Medipattern will pay a finder's fee of up to two percent of the gross proceeds from the common shares subscribed for under the offering in certain circumstances.

Proceeds from this placement will be used for:

- continued development of the B-CAD software in ultrasound,

- accelerate the development of B-CAD MRI™,

- to expand into other indications such as prostate screening and diagnosis.

The Medipattern Corporation develops award-winning software applications for medical imaging. These applications enhance workflow while improving interpretive and diagnostic confidence. The Company's initial clinical application is B-CAD™ for breast ultrasound. B-CAD uses pattern recognition technology to assist radiologists in their efforts to classify and characterize lesions in ultrasound images of the breast. For additional information, please visit the Company's website at:

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 financial performance, operations or business environment. Such statements are based on Medipattern's operations, estimates, forecasts, and projections, but 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 these forward-looking statements. These factors include those set forth in the company's corporate filings, (posted at Consequently, readers should not rely on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Although any forward-looking statements are based upon what management believes to be reasonable assumptions, Medipattern cannot be certain that actual results will be consistent with these forward-looking statements, and the company disclaims any intention or obligation to update or revise any forward-looking statements for any reason.

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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