Urodynamix Technologies Ltd. Announces Cross of 1,480,000 Common Shares
Published: Sep 29, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - September 29, 2009) - Urodynamix Technologies Ltd. (TSX VENTURE: URO) today announced that a cross of 1,480,000 common shares has been effected through Canaccord Capital Inc. at a sales price of $0.05 per common share. The traded shares were sold by Barry Allen, President and CEO of Urodynamix Technologies Ltd. who also purchased 2,782,450 common shares at a price of $0.05 per common share through the $1.5 million non-brokered private placement for 30,000,000 common shares that closed on September 25, 2009. All of the shares issued by the Company pursuant to the non-brokered private placement are subject to a 4-month resale restriction and the Company will pay a commission of up to 7.5% on sales of common shares to third parties.
About Urodynamix Technologies Ltd.
Urodynamix Technologies is a Canadian medical device company developing and commercializing non-invasive medical technology based on proprietary applications of near-infrared spectroscopy (NIRS). The Company is currently focused on products that aid in the diagnosis and treatment of urinary incontinence, lower urinary tract symptoms, erectile dysfunction, prostate cancer, benign prostatic hyperplasia, and traumatic increases in intra-abdominal pressure that cause abdominal compartment syndrome. Urodynamix's breakthrough medical technology has the potential to beneficially affect more than 200 million people worldwide.
Certain information contained in this press release may be forward-looking and is subject to unknown risks, which could cause actual results to differ materially from those set forth or implied herein. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Urodynamix Technologies Ltd.
Chief Financial Officer