Vigil Health Solutions Inc.
TSX VENTURE : VGL

Vigil Health Solutions Inc.

March 31, 2006 16:26 ET

Vigil Health Solutions Inc. Announces Closing of Private Placement

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - March 31, 2006) - Vigil Health Solutions Inc. ("Vigil") (TSX VENTURE:VGL) is pleased to announce that it has closed the private placement announced on March 28, 2006. A total of 27,500,000 common shares were issued at a price of $0.06 per share to raise gross proceeds of $1,650,000. The offering was oversubscribed and consequently the Company expects to close a second tranche of 2,500,000 additional common shares at $0.06 per share to raise additional gross proceed of $150,000 on or about Wednesday 5, April.

The Company intends to use the net proceeds from the private placement for working capital and other general corporate purposes, including expanding the existing sales team.

The Company has paid a finder's fee of $62,131 ($0.0042 per share) in respect of 14,793,000 common shares issued in the private placement.

Unless permitted under securities legislation and with the prior approval of the TSX Venture Exchange, the common shares cannot be traded until August 1, 2006.

About Vigil Health Solutions Inc.

Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding aged care market. Vigil has established a rapidly growing presence in North America and an international reputation for being on the leading edge of systems design and integration. The Vigil Integrated Care Management System™ (Vigil® System) includes nurse call, wireless nurse call, two-way voice nurse call, wireless pendants, resident check-in, bed monitoring and a unique non-invasive monitoring system for dementia residents who often do not equate pushing a button with getting help. The first to supply dementia specific care technology, Vigil facilitates the highest standard of care for cognitive residents while helping dementia residents enjoy a higher quality of life and greater dignity.

Certain information contained in this news release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts or other statements that are not statements of fact. Although the Company believes that the expectations are reasonable, actual events or results may differ from the Company's expectations.

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

Contact Information