Brossard, November 8, 2017 – ZoomMed Inc. (TSX Venture Exchange: ZMD) announces the closing of a $500,000 secured financing agreement with a private investor dealing at arm’s length with ZoomMed. The loan bears interest at 12 % per annum payable on a quarterly basis. The loan is repayable under certain conditions on November 2, 2018. This loan will be used to provide working capital to fund the operations of the Corporation. The whole is subject to the approval of the regulatory authorities. ZoomMed announces it should be in position to release on or about December 22, 2017 its audited annual financial statements, management discussion and analysis and chief executive officer and chief financial officer certifications for the year ended May 31, 2017, as wells as its unaudited interim financial statements, management discussion and analysis and chief executive officer and chief financial officer certifications for the interim period ended August 31, 2017. As soon as these financial statements are filed, the Corporation will ask the securities regulatory authorities to lift the cease trade order on its securities.
ZoomMed builds and operates “ZoomMed’s communication network”, a clinical information exchange platform between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations and private insurers. The cornerstone of this network is ZoomMed’s “ZRx Prescriber”, a technological innovative Web application that greatly simplifies the writing of a prescription for the physician. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).
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