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January 4, 2006
MEDICURE ANNOUNCES CLOSING OF $12 MILLION BOUGHT DEAL FINANCING
UNDERWRITERS' OPTION FULLY EXERCISED
WINNIPEG, ManitobaÐ (January 4, 2006)
Not for distribution to U.S. news wire services or dissemination in the United States.
WINNIPEG, Manitoba– (January 4, 2006) Medicure Inc. (TSX:MPH; Amex: MCU), today announced the closing of the previously announced bought deal financing with a syndicate of underwriters led by Blackmont Capital Inc. and including National Bank Financial Inc., for 6,500,000 common shares of Medicure at $1.55 per share. The underwriters have also fully exercised their 1,250,000 common share option for a total purchase of 7,750,000 common shares. With the exercise of the underwriters’ option, the gross proceeds realized by the Company are approximately CDN$12 million.
Proceeds of the offering will be used towards the funding of the Company's MC-1 and MC-4232 products into pivotal Phase III development, the continued development of its preclinical compounds, including MC-45308, and for general corporate purposes.
The securities offered were not registered under the Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.
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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