SOURCE: Visiphor Corporation

July 17, 2007 08:30 ET

Visiphor Announces Private Placement

VANCOUVER, BC--(Marketwire - July 17, 2007) - Visiphor Corporation ("Visiphor") (OTCBB: VISRF) (TSX-V: VIS) (XETRA: IGYA) announced today that it has entered into an agreement with Investor Cubed Inc. ("ICI") to complete a proposed private placement ("the Offering") of up to CDN $1,000,000. The price of the private placement Units is at a price of $0.10 per Unit. Each Unit will consist of one common share and one half common share purchase warrant. Each whole warrant will entitle the holder for one year from the date of issue of the Units to acquire one additional common share in the capital of Visiphor at an exercise price of $0.12. The private placement is subject to regulatory approval.

ICI's consideration for acting as agent for the Offering will be a cash commission of 7.5% of the gross proceeds received by the Corporation for the ICI Units.

The proceeds of the private placement will be used for general operating capital.

The securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons," as such term in defined in Regulation S promulgated under the Securities Act, except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.

About Visiphor

Visiphor software products and services deliver practical, rapidly deployable solutions that integrate business processes and databases. The Company's solutions focus on disparate process and data management problems that exist in numerous verticals spanning government, energy, law enforcement, security, health care and financial services. Using industry standard Web Services and Service Oriented Architecture ("SOA"), Visiphor delivers a secure and economical approach to true, real-time application interoperability.

Visiphor is a Microsoft Gold Certified Partner. For information about Visiphor or the Company's products and services, please visit www.visiphor.com.

ON BEHALF OF THE BOARD OF DIRECTORS
"Oliver 'Buck' Revell"
Chairman, Visiphor Corporation

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

Forward-Looking Statements: This press release may contain statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include the risks and uncertainties described in Visiphor Corporation's Form 10-KSB filed with the United States Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Investor and Media Inquiries:
    Roy Trivett, CEO
    Visiphor Corporation
    Phone: 604-684-2449 Ext. 234
    E-mail: Email Contact