TORONTO, ONTARIO--(Marketwire -08/21/12)- (NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Medifocus Inc. (Medifocus) (MFS.V)(MDFZF) announces that, subject to regulatory approval, it has extended to on or around September 21, 2012 the closing date for its previously announced non-brokered private placement. The Offering was originally announced on July 6, 2012 and is for up to 26,666,666 units (the Units) at a price of $0.15 per Unit for anticipated gross proceeds of up to $4,000,000 (the Offering).
All other terms and conditions of the Offering remain unchanged.
Medifocus owns a patented microwave focusing technology platform (the Adaptive Phased Array ("APA") technology), which can precisely target and control microwave energy to cause heating in cancerous tumors anywhere in the body reliably and repeatedly. The ability to target tumors with a precision controlled dose of heat can be used to destroy tumors at higher temperatures, to treat tumors in combination with chemotherapy and/or radiation at moderate temperatures for increased effectiveness and reduced toxicity and to trigger the targeted release of therapeutic drugs and genes at tumor sites at lower temperatures. While the core technology has been licensed from the Massachusetts Institute of Technology, Medifocus has further refined the precision of the microwave focusing and control ability and developed a commercial system dedicated exclusively for the treatment of Breast Cancer. With the acquisition of Prolieve, Medifocus now owns in addition, a revenue generating commercial BPH heat treatment product generating cash flow to support the development and commercialization of other catheter based or APA based external focused heat systems for targeted thermotherapy of deep seated tumors anywhere in the body. Please visit www.medifocusinc.com for more details.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the proposed transactions and neither of the foregoing entities has approved or disapproved of the contents of this press release.