SQI Diagnostics (formerly Emblem Capital Inc.) Announces the Closing of its Qualifying Transaction with umedik, Inc. and 6701914 Canada Inc.

TORONTO, May 3 /CNW/ - SQI Diagnostics Inc. (TSX-Venture: SQD), a medical systems automation company focused on evolving laboratory-based biomarker testing, is pleased to announce that it has completed its qualifying transaction with umedik, Inc. ("umedik") originally announced by press releases dated June 14, 2006, December 6, 2006 and March 6, 2007 (the "Qualifying Transaction"). As such, umedik is now a wholly owned subsidiary of SQI and SQI, which is no longer a Capital Pool Company ("CPC"), will carry on the businesses of umedik. As at the opening of trading on May 4, 2007, SQI's trading symbol will change to "SQD".