ZoomMed inc.
TSX VENTURE : ZMD
TSX CROISSANCE : ZMD

ZoomMed inc.

July 18, 2005 23:59 ET

ZoomMed announces that the TSX Venture Exchange has conditionally approved its qualifying transaction

MONTREAL, July 18 - ZoomMed inc. ("ZoomMed"), a capital pool
corporation (TSX Venture Exchange: ZMD.P), is proud to announce that the TSX
Venture Exchange has conditionally approved the qualifying transaction
resulting from the agreement in principle entered into on May 26, 2005 (the
"Agreement in Principle") providing for the acquisition of all the issued and
outstanding common shares of 9103-8240 Québec inc. (the "Target Company"),
which in turn holds all the issued and outstanding shares of 4130936 Canada
Inc. (collectively, the "Businesses"). This share purchase will be made in
consideration of a price of $4,500,000, payable by the issuance of 18,000,000
common shares of ZoomMed, at a price of $0.25 per share.

ZoomMed proceeded today with the filing of its filing statement, through
SEDAR, in accordance with the applicable policies of the TSX Venture Exchange.
This filing statement is therefore available to the public through SEDAR.

ZoomMed intends to proceed to close its qualifying transaction described
in its filing statement, 7 business days following the date of this press
release, that is to say next 27 July, 2005, as required by the applicable
policies of the TSX Venture Exchange.

The Businesses are specialized in the reinstatement, management and
restoration of pre-used or, if needed, new medical and laboratory equipment,
and also offers as a complement, replacement parts. In this respect, the
Businesses purchase used equipment, see to its restoration, and finally,
resell such equipment in the market.

The board of directors of ZoomMed have approved the adoption of a stock
option plan in respect of 10% of the issued and outstanding common shares
following the completion of the qualifying transaction mentioned above, the
coming into force of which remains subject to the approval of the TSX Venture
Exchange and the "Autorité des marches financiers du Québec".

The TSX Venture Exchange has neither approved nor accepts any
responsibility with respect to the veracity or exactitude of this press
release.

Contact Information

  • ZoomMed inc.
    Valier Boivin
    Director
    (514) 844-5468