PRESS RELEASE

Friday, April 8, 2005

IMAGIN Diagnostic Centres Inc. To Finance Future Growth of International P.E.T. Diagnostics Inc.

IMAGIN to Invest $2.25 Million for a 50.1% Equity Position in IPET

TORONTO and VANCOUVER - April 8, 2005. IMAGIN Diagnostic Centres, Inc. (“IMAGIN”) and International P.E.T. Diagnostics, Inc. (“IPET”) announced financing into IPET by IMAGIN totaling $2,250,000 which will give IMAGIN a 50.1% equity position (assuming IMAGIN converts its debentures) in IPET. The financing will allow IPET to upgrade its Vancouver PETScan Centre for the provision of PET (Positron Emission Tomography) scans for cancer patients and to expand its PETScan Centres into strategic Canadian cities. To date, IMAGIN has funded in excess of $800,000 of the $2.25 million commitment.

As part of the agreement IMAGIN, through an affiliated Canadian company, Quantum Molecular Imaging, Inc., will separately participate in financing the development of radiopharmaceutical manufacturing facilities across Canada in collaboration with IPET Pharmaceuticals Inc. (“IPET Pharma”) and CI Pharma, subsidiaries of IPET and IMAGIN respectively. These facilities will primarily produce FDG, the radiopharmaceutical used in PET imaging.

IPET and IMAGIN expect to rollup under the IPET operating umbrella the Canadian PET centre operations and/or joint ventures which are being developed separately by IMAGIN. IMAGIN has equity ownership in, or is a joint venturer in, PET centre projects in Mississauga, Windsor and Gatineau, all in various stages of development.

IPET has owned and operated for 4 1/2 years Canada’s first PETSCAN Centre in Vancouver. IPET Pharma, IPET’s wholly-owned subsidiary, has Canada’s first New Drug Submission for its CanTrace® FDG, the radiopharmaceutical used in PET scanning, in the final stages of priority review for issuance of a Health Canada Notice of Compliance (license) to manufacture, use and sell FDG for cancer PET scanning.

“This is a significant strategic move for each company,” said Cynthia Jordan, CEO of IMAGIN. “It merges the strengths and talents of IPET and IMAGIN and positions the group to work with significant international PET service providers to put in place a total solution for the delivery of PET scanning to those Canadians who suffer from, and those who treat cancer. In the future we expect to impact heart and neurological disease through the use of PET, an effort that is in its infancy in Canada.”

“After working more than five years to establish a model for the provision of PET scans founded on adherence to the regulations and high standards, I am very pleased to join with colleagues across the country to develop a system for providing PET scans for all who need them,” said Denis Tusar, President and CEO of IPET. “The funding by IMAGIN enables us to finally address the big picture and take what we have in Vancouver across the country and then internationally.”

About PET

PET (positron emission tomography) is the most advanced medical diagnostic imaging technology available today for the early and accurate detection of cancer. It is also valuable in detecting certain diseases of the heart and brain. Studies have shown that PET is substantially more accurate than any other imaging modality. A whole-body PET scan uses a radiopharmaceutical tracer (usually FDG) to provide information about the body’s chemistry and cell function (metabolism) rather than pictures of the body’s anatomy or structure as shown by X-ray, ultrasound, CT scans, or MRI. PET scans can identify abnormalities or tumors that could otherwise go undetected.

Based on 30 years of technological research, the PET system is the diagnostic system of choice at more than 2,000 clinical institutions worldwide.

About IPET

Opened in October 2000, the Vancouver PETSCAN Centre is owned and operated by Vancouver based International P.E.T. Diagnostics Inc. (IPET) at the BC Research and Innovation Complex at the University of British Columbia. The Vancouver PETScan Centre is the first private dedicated clinical PET scan facility in Canada.

About IMAGIN

IMAGIN Diagnostic Centres, Inc. is a closely held developmental stage company dedicated to being the leader in bringing PET (“Positron Emission Tomography”) and PET/CT (“Computed Tomography”) technology to Canadians. IMAGIN has significant strategic investments in Positron Corporation (POSC.OB: NASD Bulletin Board), International P.E.T. Diagnostics, Inc., CareImaging Corp., Quantum Molecular Imaging, Inc., as well as other PET centres or radiopharmaceutical IMAGIN is located in Toronto, Ontario.

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