ZoomMed inc.
TSX VENTURE : ZMD
TSX CROISSANCE : ZMD

ZoomMed inc.

May 18, 2005 23:59 ET

ZoomMed announces the closing of its initial public offering

MONTREAL, May 18 - ZoomMed inc. ("ZoomMed"), a capital pool
company, announces that, on May 18, 2005, pursuant to a final prospectus dated
April 13, 2005, it closed the offering of 8,500,000 common shares of the share
capital of ZoomMed, at a price of $0.20 per share, in the framework of its
initial public offering. The gross proceeds resulting from the issuance of
these shares is of $1,700,000.

In connection with this offering of shares, ZoomMed has paid to Dlouhy
Merchant Group inc. ("Dlouhy"), the agent, a cash commission, and has issued
to Dlouhy, as remuneration, options entitling it to purchase 425,000 common
shares of ZoomMed, at a price of $0.20 per share, for a period of 18 months
from the date of listing of the common shares of ZoomMed on the TSX Venture
Exchange.

ZoomMed will now undertake the necessary procedures in order to proceed
with the listing of its shares on the TSX Venture Exchange, as a capital pool
company.

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

Contact Information

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