New Issue: MedeFile sells $1.95 million of stock, warrants in placement

By Devika Patel

Knoxville, Tenn., Jan. 29 - MedeFile International, Inc. said it completed a $1.95 million private placement of shares and warrants.

The company sold 13,033,333 shares at $0.15 apiece in three tranches on Nov. 16, Jan. 22 and Jan. 28. The first tranche included 11 million shares for $1.65 million and the second tranche included 933,333 shares for $140,000. The remaining 1.1 million shares were sold in the third tranche for $165,000.

Investors also received warrants to buy 7.8 million shares, which are exercisable at $0.60 for three years. The company said it issued 6.6 million warrants in the first tranche, 560,000 warrants in the second tranche and 640,000 in the third tranche.

Cedar Knolls, N.J.-based Medefile, formerly OmniMed International Inc., has created a system for gathering and digitizing medical records so that individuals can have a record of all of their medical visits.

Issuer:	MedeFile International, Inc.
Issue:	Stock and warrants
Amount:	$1,954,999.95
Shares:	13,033,333
Price:	$0.15
Warrants:	For 7.8 million shares
Warrant expiration:	Three years
Warrant strike price:	$0.60
Settlement date:	Nov. 16 (for $1.65 million), Jan. 22 (for $140,000), Jan. 28 (for $165,000)
Stock symbol:	OTCBB: MDFI
Stock price:	$0.56 at close Nov. 16

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