MedMira Receives New Andurja Equity Investment of $ 1 million

    




 HALIFAX, Jan. 31, 2012 /CNW/ - MedMira Inc., (MedMira) , a  developer and marketer of rapid diagnostic technology and solutions,  today announced that it has entered into an agreement with Andurja  Beteiligungen AG (Andurja), a Swiss company based in Lucerne,  Switzerland, for a CAD $1 million equity investment to be used for  operations and further debt reduction. 

 Andurja previously invested CAD $2 million in the Company in 2009, CAD  $1 million in 2010, and CAD $1.5 million in 2011. Andurja is the  controlling and majority shareholder of MedMira's strategic partner  Vitest AG. 

 Under the terms of the agreement Andurja will acquire 20,000,000 equity  units at $0.05 per unit. Each equity unit consists of one common share  and one common share purchase warrant and is subject to a four month  hold period ending June 1, 2012. Each full warrant entitles Andurja to  purchase one common share of MedMira at $0.10 per share exercisable  over four years. Under the terms of this transaction, Andurja will  increase its ownership of MedMira common shares from 35.7% to 40.5% and  this could increase to 44.5% if all warrants related to this  transaction are exercised. If all warrants held by Andurja from prior  transactions were also exercised, Andurja's ownership would be 56.7%. 

 This agreement has received conditional approval and is subject to final  approval of the TSX Venture Exchange. 

 About MedMira 

 MedMira is a leading developer and manufacturer of flow-through rapid  diagnostics and technologies. The Company's tests provide hospitals,  labs, clinics and individuals with reliable, rapid diagnosis of  infectious diseases. MedMira diagnostics are sold under the Reveal®,  MiraWell®, Multiplo™, and Miriad brands in global markets. MedMira's  rapid HIV test is the only rapid HIV test in the world to achieve  regulatory approvals in Canada, the United States, China and the  European Union. MedMira's corporate offices and manufacturing  facilities are located in Halifax, Nova Scotia, Canada. For more  information visit MedMira's website at www.medmira.com. 

 This news release contains forward-looking statements, including  statements regarding development of sales opportunities, which involve  risk and uncertainties and reflect the company's current expectation  regarding future events.  Actual events could materially differ from  those projected herein and depend on a number of factors including, but  not limited to, changing market conditions, successful and timely  completion of clinical studies, uncertainties related to the regulatory  approval process, establishment of corporate alliances and other risks  detailed from time to time in the company quarterly filings. 

 The TSX Venture Exchange has not reviewed and does not accept  responsibility for the adequacy or accuracy of this statement. 

MEDMIRA INC.


CONTACT:  Andrea YoungT.  902-450-1588E.  [e-mail] 


    

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