MONTREAL, QUEBEC--(Marketwire - May 31, 2010) - ZoomMed Inc. (TSX VENTURE:ZMD), creator of the ZRx Prescriber, the e-Pic communication network and the ZRx Pharma communication network announces a second and final closing of the offering previously announced on April 27, 2010. The second closing, for gross proceeds of $500,000, added to the previous closing, represents total gross proceeds of $2,500,000 for the private placement. As part of this second closing, 2,500,000 shares of ZoomMed were issued at a price of $0.20 per share, therefore totaling 12,500,000 issued shares at a price of $0.20 per share.
ZoomMed announced its intention to raise a minimum of $2,000,000 up to a maximum of $2,700,000 through a non-brokered private placement of units. Each unit, priced at $0.20, is comprised of one common share of ZoomMed. A minimum of 10,000,000 and a maximum of 13,500,000 common shares of ZoomMed could have been issued under this private placement.
Use of proceeds will be used to develop new services, which are more and more requested, and marketing activities in order to increase revenues and Cash Flows.
About the ZRx Prescriber
ZoomMed developed the ZRx Prescriber, a technologically innovative Web application that enables physicians to use a wireless device, such as the IPod Touch™, IPhone™, other PDA's or computers, to rapidly write and deliver scripts. The ZRx Prescriber is quick, efficient and intuitive. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).
About the e-Pic communication network
ZoomMed's e-Pic communication network allows intercommunications between physicians who use the ZRx Prescriber and pharmacists who are members of the network. Thus, physicians and pharmacists can transfer, capture (scan), and electronically receive prescription information and prescription renewal information through this high speed and entirely secure network.
About the ZRx Pharma communication network
ZRx Pharma communication network, the new revolutionary communication tool, allows information dissemination and intercommunication between pharmaceutical corporations and physicians using the ZRx Prescriber, such as; continuing medical education, new product launches, medical training, major medical alerts, clinical studies and surveys.
Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond ZoomMed's control. Such risks include but are not limited to: the impact of general economic conditions, changes in the regulatory environment in the jurisdictions in which ZoomMed does business, stock markets volatility, fluctuations in costs, and changes to the competitive environment due to consolidation, as well as other risks disclosed in public filings of ZoomMed. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. The reader should not place undue reliance, if any, on the forward-looking statements included in this news release. These statements speak only as of the date made and ZoomMed is under no obligation and disavows any intention to update or revise such statements as a result of any event, circumstances or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.