WINNIPEG, MANITOBA / ACCESSWIRE / February 17, 2016 / Miraculins Inc. (TSXV: MOM) (the "Company"), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, today announces that it has arranged a secured loan (the "Loan") totaling $100,000, with Bradstone Capital Corp. (the "Lender"), a company with an officer who is also an officer of the Company.
The Loan shall mature the earlier of i) one year from the closing date, ii) sixty days after the Lender demands repayment, which the Lender has the right to demand after May 16, 2016; or iii) upon the completion of any equity or debt financings or a combination of equity or debt financings that total $100,000. The Loan shall carry an interest rate of 12% per annum. The Loan is secured by a first ranking charge on all assets of the Company.
The proceeds of the Loan will be used for general working capital purposes.
About Bradstone Capital Corp.
Bradstone Capital Corp. is a merchant bank that provides bridge loans and equity financings to companies across many industries in Canada and the United States. For further information, please contact Chris Carmichael (647) 352-4900.
About Miraculins
Miraculins is a medical diagnostic company focused on acquiring, developing and commercializing non-invasive technologies for unmet clinical needs. The Company's Scout DS(R) device has been regulatory cleared in certain markets as a clinical tool to assist in the identification of both prediabetes and type 2 diabetes, and is the first non-invasive testing system designed to provide a highly sensitive and convenient method for measuring prediabetes and type 2 diabetes related biomarkers in the skin, the accumulation of which are accelerated by abnormal blood sugar levels and oxidative stress. Unlike current testing methods, a Scout DS (R) test requires no blood draw, no fasting, and no waiting for a lab result. The product has been used and validated in thousands of patients around the world. For more information visit www.miraculins.com or contact:
Miraculins Inc.
Christopher J. Moreau
President & CEO
204-477-7599
204-453-1546
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Scout DS(R) is a registered trademark of Miraculins Inc. All Rights Reserved. 2017.
SOURCE: Miraculins Inc.
