Medical Care Technologies, Inc. Secures Financing
14 January 2010 - 7:44AM
Marketwired
Medical Care Technologies, Inc. (OTCBB: MDCE) announces that it has
completed a non-brokered private placement of 500,000 units at a
price of US$0.20 per unit for total proceeds of US$100,000.
Each unit purchased is of one share of common stock, and one
Series A Warrant. Each Series A Warrant is convertible into one
share of common stock upon payment of $0.15 each. Each Series A
Warrant is non-transferable. The Series A Warrants are exercisable
for a period of 24 months from January 15, 2010.
"The funds raised from this placement shall be used for MDCE's
first Telehealth Care Center which will act as our flagship clinic
in China, that will educate and treat patients via the
Tele-Health(TM) Suite," states Ning Wu, President of MDCE.
The units were sold pursuant to the exemption from registration
contained in Regulation S of the Securities Act of 1933 in that the
transaction took place outside the United States of America and the
purchaser was a non-US person as defined in Regulation S. The
securities that comprise the units are "restricted securities" as
that term is defined in Rule 144 of the Securities Act of 1933.
About Medical Care Technologies, Inc.
Medical Care Technologies, Inc. (www.medicaretech.com) is traded
under the symbol MDCE on the OTCBB and is based in London, England.
The Company is in the process of moving its portfolio of oil
resources into medical care technologies. The products/services
that the company hopes to acquire are intended to constitute a
healthcare delivery and wellness site, dedicated to helping Asian
consumers live healthier, more balanced lives. MDCE is planning to
provide advanced connectivity, internationally standardized and
secure business technology and information systems to assist the
Asian health industry -- physicians, pharmacists, medical
institutions, consumers, access medical resources, health services,
education, wellness and pharmaceutical products throughout Asia.
MDCE is planning to distribute and provide services at a diverse
range of industry-leading product lines in three segments: Medical
Devices, Pharmaceuticals and Nutraceuticals. Further information on
the Company can be found at www.sec.gov and the company's website
at www.medicaretech.com
Safe Harbor Statement
All statements contained in this press release, other than
statements of historical fact, are forward-looking statements,
including those regarding: MDCE's products, services, capabilities,
performance, opportunities, development and business outlook,
guidance on our future financial results and other projections or
measures of our future performance; the amount and timing of the
benefits expected from strategic initiatives and acquisitions or
from deployment of new or updated technologies, products, services
or applications; and other potential sources of additional revenue.
These statements are based on our current plans and expectations
and involve risks and uncertainties that could cause actual future
events or results to be different than those described in or
implied by such forward-looking statements. These risks and
uncertainties include those relating to: lack of operating history,
transitioning from a development company to an operating company,
difficulties in distinguishing MDCE's products and services,
ability to deploy MDCE's services and products, market acceptance
of our products and services; operational difficulties relating to
combining acquired companies and businesses; our ability to form
and maintain mutually beneficial relationships with customers and
strategic partners; changes in economic, political or regulatory
conditions or other trends affecting the healthcare, Internet,
information technology and healthcare and pharmaceutical
industries, and our ability to attract and retain qualified
personnel. Other risks and uncertainties may include, but are not
limited to: lack of or delay in market acceptance and fluctuations
in customer demand, dependence on a limited number of significant
customers, reliance on third party vendors and strategic partners,
ability to meet future capital requirements on acceptable terms,
continuing uncertainty in the global economy, and compliance with
federal and state regulatory requirement. Further information about
these matters can be found in our Securities and Exchange
Commission filings. We expressly disclaim any intent or obligation
to update these forward-looking statements. There can be no
assurance that the acquisition of GUC's assets will close. MDCE
must issue 57,300,000 shares of its common stock to GUC, or GUC's
designees in order to close the acquisition. Accounting for the
anticipated cancelation of 57,300,000 shares by Patricia
Traczykowski, MDCE will have 98,900,000 shares of it common stock
issued and outstanding upon the closing of the acquisition.
For Further Information: Ezra Smith C. Jones Consulting, Inc.
Tel: (727) 771-9500 Fax: (727) 771-9545 Email:
cjones@cjonesconsulting.com Web: www.cjonesconsulting.com
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