TORONTO, Dec. 31, 2015 /CNW/ - Medifocus Inc.
("Medifocus" or the "Company") (TSXV: MFS) and
(OTCQX: MDFZF) announced today that, subject to regulatory
approval, it has granted incentive stock options to the directors
and officers of the Company to purchase an aggregate of 10,100,000
common shares under the Company's Stock Option Plan. Each Option is
exercisable at a price of $0.08 per
common share, expire five years from their date of grant and vests
on the date of grant.
Medifocus is also pleased to announce that, after receiving
approval from the TSX Venture Exchange (TSXV), it has
completed a previously-announced shares for debt transaction.
Medifocus has issued an aggregate of 3,192,095 common shares at a
deemed price of $0.055 per common
share to settle an aggregate of $175,565 of previously incurred debt representing
unpaid fees and amounts due to service providers. A further
$110,00 owing to Directors and
Officers will be settled with the issue of 2,000,000 common shares
pending disinterested shareholder approval. All of the common
shares issued in connection with the shares for debt transaction
are subject to a 4-month and one day hold period expiring on
January 22, 2017
About Medifocus, Inc.:
Medifocus, Inc. (TSXV-MFS, OTC-MDFZF) is biotechnology company
with a portfolio of medical technologies that utilize heat
activation to treat conditions ranging from prostate diseases to
breast cancer and extends to gene therapy. Heat is known to
accelerate numerous chemical and biochemical reactions, and
Medifocus' portfolio relies on this fact to improve clinical
outcome. Its Prolieve® Thermodilatation System offers
relief from Benign Prostatic Hyperplasia (BPH) to millions of men
with a simple, 45-minute, in-office treatment. Its APA 1000 Breast
Cancer Treatment System is currently in phase 3 clinical trials,
and it is designed to destroy localized breast tumors through the
application of heat alone or in combination with chemotherapy.
Medifocus has formally entered into an exclusive license agreement
with Duke University to the Patent
Rights of a "method for selective expression of therapeutic genes
in cancer cells by hyperthermia" to develop Heat-Activated and
Tumor-Targeted Immunotherapy and Gene Therapy. This is a novel
approach to control expression of anti-cancer genes intratumorally
with focused heat and is a unique method to achieve precise viral
delivery of gene therapy and molecular therapeutics on demand.
Medifocus will work on further development of other focused heat
devices and delivery vector, making it universal to accommodate
other molecular and genetic therapeutics. The Company believes this
could result in an entire stable of gene-specific, heat-activated
treatments for a variety of medical conditions.
For more details, please visit:
www.medifocusinc.com and www.prolieve.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Company Relations: John
Mon, COO, Medifocus, Inc. Tel: 410-290-5734
jmon@medifocusinc.com
SOURCE Medifocus Inc.
