RICHMOND, BRITISH COLUMBIA--(Marketwire - May 21, 2008) - MEDICAL VENTURES CORP. (TSX VENTURE:MEV), a medical devices company specializing in products for the vascular and surgical markets, is mailing its formal offer (the "Offer") to holders of outstanding Medical Ventures warrants and options. The Company has made an offer to repurchase warrants for shares and to amend the options by substantially reducing their size in consideration of amending their exercise price to a nominal amount. The intention of the Offer is to reduce the fully diluted capitalization of the Company, pending completion of a previously announced transaction involving the proposed acquisitions of two Israeli medical device companies: Neovasc Medical Ltd. and B-Balloon Ltd.
