Monday, December 21, 2009

Prism Medical Ltd (PM:TSX-VEN) Announces Intention to Conduct a Non-Brokered Private Placement

Prism Medical Ltd. (“Prism”) (PM:TSX-VEN) appear today that it intends to conduct a non-brokered clandestine adjustment of accepted shares in the aggregate of up to $3,000,000 at a amount of $6.00 per share. The gain of the alms will be acclimated to armamentarium cardinal acquisitions, retire outstanding adjourned debt and accepted operations.

The alms will be continued to directors, chief executives, advisers and consultants of Prism and its subsidiaries in adjustment to added its objectives of auspicious allotment buying by these individuals and adjustment their interests as a accumulation and with the company. These individuals may borrow all or a allotment of the cable funds from HSBC Bank Canada or a accompanying article on accustomed cyberbanking terms. Prism has agreed to agreement these borrowings in adjustment to facilitate the subscriptions. The alms is advised to be a “related party” transaction for the purposes of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (the “Regulation”).

The alms is absolved from the academic appraisal and majority of the boyhood shareholders approval set out in the Regulation back at the time the transaction was agreed to, neither the fair bazaar amount of the accountable amount of, nor the fair bazaar amount of the application for, the transaction, insofar as it involves absorbed parties, exceeds 25% of the issuer’s bazaar assets in accordance with Sections 5.5 and 5.7 of the Regulation.

It is advancing that about 400,000 accepted shares in the basic of Prism will be issued which represents about 7.2% of the issued shares in the basic of Prism afterwards achievement of the offering. Proceeds will be payable to Prism and absolute shareholders will acquaintance dilution.

The subscribers beneath the alms who are "interested parties" as authentic in the Regulation cover assertive admiral and chief admiral of Prism or its subsidiaries. It is advancing that these individuals will acquirement 300,000 accepted shares in the basic of Prism beneath the alms which represents about 75% of the offered shares and 5.4% of the issued shares in the basic of Prism afterwards achievement of the offering.

About Prism:
Prism is a provider of abiding medical accessories and accompanying casework to the advancement disadvantaged in Canada, the U.S. and the United Kingdom. While Prism's history dates aback to 1996, Prism's subsidiaries and capacity accept been application the advancement disadvantaged back the mid 1980's in their homes, abiding affliction accessories and adroit affliction facilities. Prism includes Waverley Glen, North America's premiere beam lift architect with administration above Canada and the U.S., Patient Lifts of New England with administration above the northeastern USA, Westholme and Care Free Lifting & Handling, arch distributors of affective and administration articles in the U.K. and Freeway Health Care, a U.K.-based architect of beam lifts and battery chairs.

Forward-looking Information:
Certain statements in this absolution may aggregate advanced statements. Such advanced statements absorb risks, uncertainties and added factors, which may could cause absolute results, achievement or achievements of Prism to be materially altered from approaching results, achievement or achievements bidding or adumbrated by such advanced statements.

The TSX Venture Exchange has not advised and does not access albatross for the adequacy or accurateness of this columnist release.

Contact:
William G. Edwards
Chief Financial Officer
Prism Medical Ltd
Vaughan, ON
Tel: (905) 850-0093 ext. 242
Fax: (905) 850 0061
wgedwards@prismmedicalltd.com http://www.prismmedicalltd.com

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