Debt Settlement

Halifax, Canada: (Jan-24-08) MedMira Inc., the global market leader in premium rapid diagnostic solutions, has been embroiled in a lawsuit with a debt holder. Sources close to the case stated that the two parties reached a settlement agreement, aimed at resolving the dispute. Under the settlement, MedMira Inc. officials stated that the company will settle $500,000 owing for debts to the company through the issuance of common shares. The company will issue 1,851,852 common shares at a price of $0.27 per share subject to the approval of the TSX Venture Exchange. MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. The company's tests provide hospitals, labs, clinics and individuals around the world with reliable, rapid diagnosis for diseases such as HIV and hepatitis C in just three minutes. [YAHOO: DEBT SETTLEMENT]

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Published on Jan-26-08