ZoomMed inc.
TSX VENTURE : ZMD

ZoomMed inc.

June 23, 2008 18:42 ET

ZoomMed Inc. Announces Filing of Final Short Form Prospectus

MONTREAL, QUEBEC--(Marketwire - June 23, 2008) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

ZoomMed Inc. (the "Corporation") (TSX VENTURE:ZMD), is pleased to announce that it has filed a final short form prospectus for an offering of up to 24,138,000 units on a best efforts basis at a price of $0.29 per unit for gross proceeds of approximately $7.0 million. Each unit consists of one common share (a "Common Share") in the capital of the Corporation and one half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one Common Share at an exercise price of $0.35, at any time on or before 5:00 p.m. (Montreal time) on the date (the "Exercise Date") that is 24 months after the date of closing of the Offering.

The offering is being co-led by Blackmont Capital Inc. and M Partners Inc., and includes Loewen, Ondaatje, McCutcheon Limited, Industrial Alliance Securities Inc. and Union Securities Ltd. (collectively, the "Agents"). The Corporation has granted the Agents an over-allotment option exercisable at the discretion of the Agents to purchase up to an additional 15% of the Units offered under the offering, for a period of 30 days following the closing of the offering. Closing of the offering is expected to occur on or about July 8, 2008.

The net proceeds of the Offering will be used for expansion into Western Canada, (British-Columbia and Alberta), continuing expansion in Quebec and Ontario, and general corporate purposes.

The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals.

THIS PRESS RELEASE IS NOT AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES. THE COMMON SHARES HAVE NOT BEEN 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 STATESABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT.

About the Corporation

ZoomMed has developed and markets a new electronic tool, aiming at changing the way drugs are prescribed and dispensed throughout Canada. The "ZRx Prescriber" allows a doctor to fill out and provide prescription information to pharmacists, permitting them to access this information on-line using a bar-code and confirming it with the doctor's signed copy. The Company is listed on the Toronto Venture Exchange under the trading symbol "ZMD" and based in Montreal.

Forward Looking Statements

There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimate," "continue," "anticipates," "intends," "expects," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include among others, ZoomMed's stage of development, limited revenues, additional capital requirements, risks associated with product adoption and utilization, and dependence on collaborative partners. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

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