LMS closes $2.0 million private placement
March 06 2008 - 1:53PM
PR Newswire (US)
MONTREAL, March 6 /PRNewswire-FirstCall/ -- LMS Medical Systems
(AMEX:LMZ; TSX:LMZ), a healthcare technology company and developer
of the CALM(TM) clinical information system and risk management
software for obstetrics, today announced that it has closed a $2.0
million private placement. The private placement comprised 4
million units at a purchase price of $0.50 per unit which generated
$2 million in gross proceeds prior to the deduction of placement
agent fees and offering related expenses. Each unit is comprised of
one common share and a quarter warrant, each full warrant being
exercisable for one common share at a strike price of $0.60 for a
period of five years from the date of issue. Proceeds from the
financing will be used for general working capital and for sales
and marketing activities. About LMS: LMS is a leader in the
application of advanced mathematical modeling and neural networks
for medical use. The LMS CALM Decision Support Suite provides
physicians, nursing staff, risk managers and hospital
administrators with clinical information systems and risk
management tools designed to improve outcomes and patient care for
mothers and their infants during childbirth. Except for historical
information contained herein, the matters discussed in this news
release are forward-looking statements. Because these
forward-looking statements involve risks and uncertainties, there
are important factors that could cause actual results to differ
materially from those expressed implied by the forward-looking
statements including, but without limitation, economic conditions
in general and in the healthcare market, the demand for and market
for our products in domestic and international markets, our current
dependence on the CALM product suite, the challenges associated
with developing new products and obtaining regulatory approvals if
necessary, research and development activities, the uncertainty of
acceptance of our products by the medical community, the lengthy
sales cycle for our products, third party reimbursement,
competition in our markets, including the potential introduction of
competitive products by others, our dependence on our distributors,
physician training, enforceability and the costs of enforcement of
our patents, potential infringements of our patents and the other
factors set forth from time to time in the Company's filings with
the United States Securities and Exchange Commission and with the
Canadian Securities Commissions. The Company has no intention of or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: LMS MEDICAL SYSTEMS INC. CONTACT: about LMS Medical
Systems: Yves Grou, Chief Financial Officer, LMS Medical Systems
Inc., (514) 488-3461 Ext. 238, Fax: (514) 488-1880, ,
http://www.lmsmedical.com/
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