MONTREAL, QUÉBEC--(Marketwired - Nov. 14, 2013) - ZoomMed Inc. (TSX VENTURE:ZMD) (the "Company" or "ZoomMed") announces it has signed a term sheet with regards to a four million dollar ($4,000,000) non-convertible debenture financing, subject to due diligence with a Toronto-based investment firm. Subject to the approval of the TSX Venture Exchange and the regulatory authorities, ZoomMed will issue to MSU Securities Law Professional Corporation ("MSU") five hundred and eight thousand seven hundred and eighty-six (508,786) common shares of the Company at a deemed price of five cents ($0.05) per common share, as compensation for legal due diligence services rendered within the scope of the financing. ZoomMed deals at arm's length with MSU.
ZoomMed will use the net proceeds of the financing to fund growth capital requirements.
The Company builds and operates "ZoomMed's communication network", a clinical information exchange platform between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations, laboratories, specialized clinics and others. The cornerstone of this network is ZoomMed's "ZRx Prescriber", a technological innovative Web application that enables physicians to use a wireless device, such as IPhone™, IPad™, Google Android™ or computers, to write and rapidly deliver scripts. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).
The Company also offers "PraxisLab", a new pharmacy management software that enhances all aspects of the prescription filling process and the complete pharmacy patient file management.
Moreover, the Company holds 50% of the equity share of an American Joint Venture which commercializes throughout North America, "EvPsych" an Electronic Medical Record (EMR) designed for all behavioural health providers.
About MSU Securities Law Professional Corporation
MSU is a Toronto-based law firm specializing in corporate and securities law with a focus on small and mid cap companies. For more information: firstname.lastname@example.org
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