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PreMD Inc. Announces Debenture Financing
Date:3/3/2008

TORONTO, March 3 /PRNewswire-FirstCall/ - Predictive medicine company PreMD Inc. (TSX: PMD; Amex: PME) ("PreMD" or the "Company") today announced that it has completed an agreement with Midsummer Investment, Ltd. with respect to an offering of unsecured debentures (the "Debentures"). Several additional existing institutional, qualified investors and insiders have also agreed to participate. Under the terms of the agreement, PreMD will issue up to CDN $1.22 million of the Debentures.

The Debentures mature 18 months after the date of issuance at an amount equal to CDN$1,176 per CDN$1,000 principal amount. The Company has agreed to certain pre-payable forced redemptions at the option of the holders or the Company. The proceeds from the private placement are to be used for general corporate purposes.

The Company will also issue approximately five million common share purchase warrants (the "Warrants"), each Warrant being exercisable for a period of five years into one common share at $0.2759, a price equal to 100% of the 5-day volume-weighted average price of the common shares on the Toronto Stock Exchange.

The sale of the Debentures and Warrants is expected to close on or before March 12, 2008 subject to the satisfaction of certain closing conditions and any necessary regulatory approvals from the American Stock Exchange and the Toronto Stock Exchange.

The common shares issuable upon exercise of the Warrants will be subject to a Canadian statutory hold period of four months and a day after the closing date. In addition, neither the Debentures nor the Warrants have been registered with the United States Securities and Exchange Commission (the "SEC") or the securities commission of any state in reliance upon one or more exemptions from the securities registration requirements pursuant to the Securities Act of 1933, as amended (the "US Securities Act"), and, accordingly, may not be offered or sold except pursuant to an effective registra
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SOURCE PreMD Inc.
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