FREMONT, CA--(Marketwire - November 17, 2008) - Cardima, Inc. (OTCBB: CADM), a medical device company focused on the treatment of Atrial Fibrillation ("AF") and manufacturer of the Cardima Surgical Ablation System, the EP Ablation System, and the PATHFINDER® family of diagnostic microcatheters, announces today that on November 11, 2008, the Company executed a Loan Term Sheet and Loan Commitment letter (the "Financing Documents") with an accredited investor and shareholder of the Company pursuant to which the Company will issue a secured promissory note (the "Note") in the principal amount of $6 million. The Note will bear interest at a rate of 10% per year and matures on November 10, 2009. The Note will have and be a general charge on all of the assets of the Company. The Company intends to use the proceeds for general corporate purposes, including working capital and equipment purchases.
