LMS closes $2.6 million private placement
February 26 2007 - 8:00AM
PR Newswire (US)
MONTREAL, Feb. 26 /PRNewswire-FirstCall/ -- LMS Medical Systems
Inc. (AMEX:LMZ; TSX:LMZ) announced today that it has closed a
private placement undertaken through Griffin Securities of New York
City. The private placement, which comprised 2,375,229 common
shares generating $2,615,898 in gross proceeds, prior to the
deduction of placement agent fees and offering related expenses,
was substantially subscribed for by US based institutional
investors. Proceeds from the financing will be used for general
corporate and working capital purposes. "We are extremely pleased
and appreciative to have received such strong support from new
institutional investors", commented Diane Cote, CEO of LMS. ABOUT
LMS LMS is a leader in the application of advanced mathematical
modeling and neural networks for medical use. The LMS CALM(TM)
Decision Support Suite provides physicians, nursing staff, risk
managers and hospital administrators with clinical information
systems and risk management tools designed to improve outcomes and
patient care for mothers and their infants during labor and
delivery. Except for historical information contained herein, the
matters discussed in this news release are forward-looking
statements. Because these forward-looking statements involve risks
and uncertainties, there are important factors that could cause
actual results to differ materially from those expressed implied by
the forward-looking statements including, but without limitation,
economic conditions in general and in the healthcare market, the
demand for and market for our products in domestic and
international markets, our current dependence on the CALM product
suite, the challenges associated with developing new products and
obtaining regulatory approvals if necessary, research and
development activities, the uncertainty of acceptance of our
products by the medical community, the lengthy sales cycle for our
products, third party reimbursement, competition in our markets,
including the potential introduction of competitive products by
others, our dependence on our distributors, physician training,
enforceability and the costs of enforcement of our patents,
potential infringements of our patents and the other factors set
forth from time to time in the Company's filings with the United
States Securities and Exchange Commission and with the Canadian
Securities Commissions. The Company has no intention of or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: LMS MEDICAL SYSTEMS INC. CONTACT: Yves Grou, Chief
Financial Officer, LMS Medical Systems Inc,. (514) 488-3461 Ext.
238, Fax: (514) 488-1880; , http://www.lmsmedical.com/; David
Gordon, Grant Howard, The Howard Group Inc., 1-888-221-0915, ,
http://www.howardgroupinc.com/
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