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December 12, 2005
MEDICURE ANNOUNCES BOUGHT DEAL FINANCING
WINNIPEG, ManitobaÐ (December 12, 2005)
Not for distribution to U.S. news wire services or dissemination in the United States.
WINNIPEG, Manitoba– (December 12, 2005) Medicure Inc. (TSX:MPH; Amex: MCU), has entered into a bought deal financing with a syndicate of underwriters led by Blackmont Capital Inc. and including National Bank Financial Inc., to issue 6,500,000 common shares of Medicure at $1.55 per share for gross proceeds of $10,075,000. In addition, Medicure has granted the underwriters an option, exercisable until closing, to increase the offering by up to 1,250,000 common shares, which would increase the aggregate size of the offering to $12,012,500 if the option is fully exercised.
Proceeds of the offering will be used to help fund the Company's MC-1 and MC-4232 products into pivotal Phase III development as well as for general corporate purposes.
The common shares to be issued under this offering will be offered by way of a short form prospectus in all provinces of Canada.
Closing of this offering is expected to occur on or about January 4, 2006 and is subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OFTHIS RELEASE.
About Medicure Inc.
Medicure Inc. is a cardiovascular drug discovery and development Company focused on developing effective therapeutics for unmet needs in the field of cardiovascular medicine, the largest pharmaceutical market sector. The Company's solid position in this field is supported by the following attributes:
- Cardiovascular focused pipeline: a global market of over US $70 billion
- Two drugs - MC-1 & MC-4232 - advancing to Phase III development
- Four positive Phase II trials completed
- FDA Fast Track designation for MC-1
- Unique products addressing major, inadequately served markets
- Dual action antithrombotic, MC-45308, with positive preclinical results
Medicure also has a medicinal chemistry based Drug Discovery program focused on discovery and advancement of novel small molecule, anti-ischemics, and antithrombotics towards human clinical studies.
This press release contains forward-looking statements that involve risks, which may cause actual results to differ materially from the statements made, and accordingly may be deemed to be forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such risks, include among others, those described in the Company’s annual return on Form 20-F. The forward-looking statements are made as of the date hereof, and the Company disclaims any intention and has no obligation or responsibility to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
For more information, please contact:
Derek Reimer
Chief Financial Officer
Hogan Mullally
Manager of Investor & Public Relations
Medicure Inc.
888-435-2220
204-488-9823 fax
info@medicure.com
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