Imagin Medical Inc. (IMEXF)

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Imagin Medical Arranges Private Placement of Convertible Notes

NR-2017-IME- 4
Imagin Medical is the developer of the ultrasensitive i/Blue Imaging System that will establish a new standard of care for urologists in detecting cancers and visualizing the surgical field during minimally invasive surgeries. The Company’s initial focus is bladder cancer.
Vancouver, B.C. and Boston, MA, February 24, 2017 – Imagin Medical (CSE: IME) (OTC PINK: IMEXF) (Frankfurt/Stuttgart Stock Exchanges: DPD2) (the “Company”) announced today that it will issue on a private placement basis $100,000 aggregate principal amount unsecured convertible notes (the “Notes”) at a price of $1,000 of principal amount per Note (the “offering”).
(i) Each Note shall be for a term of 12 months from the date of Closing (subject to the prepayment and conversion terms hereinafter set forth);
(ii) The Notes will bear interest from the date of Closing at the rate of 10.0% per annum calculated annually and payable on maturity;
(iii) The subscribers may at any time following the date of Closing elect to convert any portion of the Note, plus accrued interest to the date of conversion, into Units of the Issuer at the conversion price of $0.09 per Unit; each Unit consisting of one share and one warrant exercisable for 12 months at $0.12 per share
(iv) At maturity, all unpaid principal and interest under the Notes shall be repaid in full, at the election of the Issuer, either:
The Company’s president and two directors (the insiders) will invest $60,000 in this financing.
Finder’s fees may be paid, in accordance with Canadian Securities Exchange policies. Closing of the placement will be subject to making applicable filings with the CSE.
Proceeds from the placement will be used for general working capital purposes, including advancing the development of imaging solutions for the early detection of cancer through the use of endoscopes.

About Imagin Medical
Imagin Medical is developing imaging solutions for the early detection of cancer through the use of endoscopes. The Company believes it will radically improve the way physicians detect cancer. Imagin’s initial target market is bladder cancer, a major cancer worldwide, the sixth most prevalent in the U.S., and the most costly cancer to treat due to a greater than 50% recurrence rate. Developed at the Lawrence Livermore National Laboratory, this advanced, ultrasensitive imaging technology is based upon improved optical designs and advanced light sensors. Learn more at www.imaginmedical.com.
ON BEHALF OF THE BOARD:
Jim Hutchens,
President & CEO
For further information, contact:
Bill Galine, Investor Relations
Telephone: [phone]
Email: [e-mail]

UNITS

0.09 CAD =
0.0687364 USD

WARRANTS

0.12 CAD =
0.0916485 USD