Miraculins in private placement

Miraculins (TSX-V:MOM) has announced a non-brokered private placement of up to 7.15 million units at a price of seven cents a unit for gross proceeds of up to $500,500.

Net proceeds will be used by the medical diagnostics company for the research and development, and for working capital.

Each unit consists of one common share and one warrant. Each warrant will entitle the holder to purchase one common share at a price of 10 cents each for a period of 12 months.  The warrant is callable, at the option of the company, in the event its shares trade at or above 14 cents for any 20 out of 30 consecutive trading days.  The stock closed at 8 cents on Monday.