TORONTO, Sept 28,2015 /CNW/ - Medifocus Inc. (TSX
VENTURE:MFS) (OTCQX:MDFZF) ("Medifocus" or the "Company")
announces, subject to regulatory approval, a non-brokered private
placement of up to 500 units (the "Units") at a price of U.S.
$10,000 per Unit for anticipated
gross proceeds of up to U.S. $5,000,000 (the Offering). Each Unit is
comprised of 200,000 common shares of the Company, and 100,000
Series F Common Share purchase warrants. Each Series F Common Share
purchase warrant entitles the holder to purchase one additional
Common Share at a price of U.S. $0.10
for a period of 24 months following the completion of the Offering.
If, at any time prior to the warrants' expiration date, the daily
volume weighted average trading price of the Common Shares exceeds
U.S. $0.20 on the OTCQX in
the United States, or its
equivalent in Canadian dollars on the TSX Venture Exchange in
Canada for at least 10 consecutive
trading days, Medifocus may, within 30 days of such occurrence,
give an expiry acceleration notice to the holders of warrants and,
if it does so, the warrants will, unless exercised, expire on the
30th day after the expiry acceleration notice is given. Medifocus
may pay finder's fees equal to 7% of the gross proceeds.
The proceeds of this Offering will be primarily used to expand
the reach of Prolieve and for general working capital.
About Medifocus, Inc.:
Medifocus owns two fully developed technology platforms with
comprehensive United States and
international patent protection: (i) The Endo-thermotherapy
Platform- a catheter-basis focused heat technology platform which
utilizes natural body openings to deliver precise microwave
thermotherapy to the diseased sites. The United States Food and
Drugs Administration (FDA) approved Prolieve Thermodilatation
System for the treatment of Benign Prostatic Hyperplasia (BPH) was
developed based on the Endo-thermotherapy and is currently
generating revenue; and (ii) the Adaptive Phased Array (APA)
Microwave Focusing Platform, invented by the Massachusetts Institute of Technology, licensed to
Medifocus directs precisely focused microwave energy at tumor
center to induce shrinkage or eradication of tumors without undue
harm to surrounding tissue. Medifocus' APA 1000 Breast Cancer
Treatment System, developed from the APA technology platform, has
received approval from the FDA and Health Canada to conduct the
pivotal Phase III clinical trials. Medifocus believes that these
two technology platforms can provide the design basis for the
development of multiple cancer treatment systems for surface,
subsurface and deep seated localized and regional cancers.
Please visit
www.medifocusinc.com, www.prolieve.com and
//www.facebook.com/pages/Medifocus-Inc-Company-Page/546315028715627
for more details.
Forward-Looking Statements
This news release contains "forward-looking statements" and
"forward-looking information", which may not be based on historical
facts. Forward-looking statements and forward-looking information,
include, but are not limited to, information and statements with
respect to the benefit to Medifocus' future growth resulting from
the acquisition of additional intellectual property rights,
additional treatment possibilities and the expectation that sales
from Prolieve® may accelerate as a consequence. Forward-looking
statements are frequently characterized by words such as "plan,"
"expect," "project," "intend," "believe," "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the
statements are made. Such forward-looking statements and
forward-looking information 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 or forward-looking information. These
factors should be considered carefully and readers are cautioned
not to place undue reliance on such forward-looking statements and
forward-looking information. Except as required by applicable
securities laws, the Company disclaims any obligation to update any
such factors or to publicly announce the results of any revisions
to any of the forward-looking statements or forward-looking
information contained herein to reflect future results, events or
developments.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
SOURCE Medifocus Inc.
