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PainCare Reports on Key Corporate Developments
Date:10/3/2007

on of additional revenue channels for our Company.

"In closing, it is our greatest hope that the recovery underway at PainCare will help to ultimately revitalize shareholder confidence in our Company. PainCare's longstanding investors, Midsummer Capital and Islandia, increased its investment in our Company by way of a $2 million equity placement, helping to provide cash resources needed to support our operations. Specific terms and conditions of this equity transaction, which closed on Tuesday of this week and involved the issuance of both common shares and warrants, will be detailed in a related Form 8-K to be filed with the SEC in the next several days.

"To those shareholders who have stood by us through the many challenges we've endured and overcome over the past two years, I'd like to once again extend my thanks for your ongoing support," concluded Lubinsky.

About PainCare Holdings, Inc.

Headquartered in Orlando, Florida, PainCare Holdings, Inc. is one of the nation's leading providers of pain-focused medical and surgical solutions and services. Through its proprietary network of acquired or managed physician practices, and in partnership with independent physician practices and medical institutions throughout the United States and Canada, PainCare is committed to utilizing the most advanced science and technologies to diagnose and treat pain stemming from neurological and musculoskeletal conditions and disorders.

Through its wholly owned subsidiary, Caperian, Inc., PainCare offers medical real estate and development services. Through Integrated Pain Solutions, the Company is engaged in pioneering the nation's first managed services organization that offers a multi-disciplinary healthcare network focused on the treatment of pain. For more information on PainCare Holdings, please visit http://www.paincareholdings.com.

This press release contains forward-looking stateme
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SOURCE PainCare Holdings, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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