Medipattern Corporation (CDNX:MKI.V - News), an award-winning developer of computer-aided diagnosis (CAD) software for medical imaging, whose mission is to design software products that save lives, detect cancer, and permit a higher standard of care for the millions of patients at risk of cancer, today announced that it has entered into an agreement with Research Capital Corporation to purchase on a bought-deal basis 4,730,000 common shares (“Common Shares”) from the Company at a price of $1.10 per Common Share for aggregate gross proceeds of $5,203,000 (the “Offering”). Research Capital Corporation will also have an option, exercisable for a period of 30 days following the closing date, to purchase from the Company up to an additional 15% of the Common Shares for gross proceeds of $5,983,450 to cover over-allotments and for market stabilization purposes. The Company intends to use the net proceeds of the Offering for capacity expansion, working capital and general corporate purposes.
