MedMira Inc (TSX-V:MIR)
Shares Issued 83,224,779
Last Close 6/3/2008 $0.205
Wednesday June 04 2008 - News Release

Dr. James Smith reports

MEDMIRA CLOSES $1 MILLION INSTITUTIONAL INVESTMENT

MedMira Inc. has received final approval from the TSX VentureExchange and closed the $1-million (U.S.) convertible debenture with YA GlobalInvestments LP, announced in Stockwatch on May 23, 2008.

Under the terms of the agreement, the debenture will bear interest of 10 per cent per year and be subject to a one-time fee of 5.5 per cent of the debenture amount.The debenture is convertible in whole or in part into common shares of MedMiraat 25.9 cents per share at any time during the term of the debenture, which maturesNov. 20, 2008. The debenture is repayable either by way of cash or sharesissuable under a subscription agreement entered into by both parties onSept. 6, 2005, and subject to a prospectus filed by the company onMarch 17, 2008. Both of these documents can be viewed at the company's website and on SEDAR.