ZoomMed inc.

ZoomMed inc.

March 21, 2006 10:06 ET

ZoomMed Announces the Fourth Closing of an Offering

MONTREAL, QUEBEC--(CCNMatthews - March 21, 2006) - ZoomMed inc. ("ZoomMed") (TSX VENTURE:ZMD) announces that, on March 21, 2006, pursuant to an amended prospectus dated December 20, 2005, it completed a fourth closing resulting in the issuance of 1,689,100 common shares of ZoomMed, at a price of $0.20 per share. The gross proceeds resulting from the issuance of these shares are $337,820.

In connection with this offering of shares, ZoomMed has paid to Versant Partners Inc. ("Versant"), the agent, a cash commission, and has issued to Versant, as remuneration, warrants entitling it to purchase 84,455 common shares of ZoomMed, at a price of $0.20 per share, for a period of 18 months.

Pursuant to the amended prospectus dated December 20, 2005, the corporation issued, to date, a total of 10,779,800 common shares of its share capital for total gross proceeds of $2,155,960.

ZoomMed is presently developing a new electronic tool "ZRx Prescriber", intended to change the way drugs are prescribed and dispensed throughout Canada. This handheld prescribing system device, equipped with tools such as a therapeutic advisor as well as a medication interaction manager, will enable doctors to fill prescriptions and to electronically transmit them in a fast and secure mode. This user friendly Web product, designed for doctors, will use the latest "Pocket PC" technologies.

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

Contact Information

  • ZoomMed inc.
    Yves Marmet
    President and Chief Executive Officer
    (450) 678-5457