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PRESS RELEASE
IMAGIN Diagnostic Centres, Inc. Approves a 4 for 1 Share Split and a Recapitalization
TORONTO-June 26, 2003-IMAGIN Diagnostic Centres, Inc. (“IMAGIN”) an Ontario Corporation, announced today a 4 for 1 share split to shareholders of record June 30, 2003 and a recapitalization wherein the acquisition of Scans For Life was renegotiated, eliminating the cash portion of the purchase price. The total issued common share capitalization was restructured to create 6,000,000 common shares and 1 million preferred shares, with the preferred shares being convertible only upon achievement of certain performance criteria. All of the details of the split and restructuring will be available at www.imagincentres.com.
IMAGIN is commencing an offering to accredited investors only as defined by OSC Rule 45-501 (as harmonized in certain other provinces) of 2,500,000 units at $1.00 where each unit contains 1 common share and a series of warrants.
Gary Walker, Chairman of IMAGIN stated “IMAGIN continues to refine and refocus its strategy to become a major factor in the PET and PET/CT business across Canada. PET scans are not available to Canadians except at IPET of Vancouver and in research projects at some teaching hospitals. PET scans are saving the lives of people with cancer, heart disease, helping those with Alzheimer’s, Parkinson’s, etc., in all G8 countries except Canada. IMAGIN is contacting doctors across Canada in order to educate them on the benefits of PET for their patients and to invite them to participate in bringing PET scans to their local communities. Our response has been gratifying.”
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 is negotiating joint ventures with private imaging centers and hospitals for the financing, installation and management of PET scan facilities across Canada. IMAGIN has a control position in Scans For Life, an early-stage marketing company focused on the patient acquisition function for CT and PET scans in the USA. IMAGIN is negotiating various transactions in order to establish a foothold in multiple Canadian markets. IMAGIN is located in Toronto, Ontario.
