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PreMD Inc. Completes Debenture Financing
Date:3/12/2008

TORONTO, March 12 /PRNewswire-FirstCall/ - Predictive medicine company PreMD Inc. (TSX: PMD; Amex: PME) ("PreMD" or the "Company") today announced that it has completed its previously announced debenture financing with several existing institutional investors and insiders, including Midsummer Investment, Ltd. The gross proceeds of the financing totaled approximately CDN$1.22 million, and will be used for general corporate expenses, with a focus on the Company's appeal to the US Food and Drug Administration (FDA) regarding its recent 510(k) submission.

"We are very pleased to have this financial backing at this time," said Dr. Brent Norton, president and CEO of PreMD. "We are facing some challenges, but with our FDA appeal underway and existing clinical trials continuing, this financing gives us the time we need to see the business through 2008. We hope to quickly resolve our FDA issues and proceed with the commercialization of our skin cholesterol test in the US market."

The unsecured 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 Company has also issued 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.

About PreMD Inc.

PreMD Inc. is a leader in predictive medicine, dedicated to developing rapid, non-invasive tests for the early detection of life-threatening diseases. PreMD's cardiovascular products include a line of non-invasive skin cholesterol tests. PreMD's other skin cholesterol products include PREVU(x) LT, a skin cholesterol test designed for use in the life insurance industry. The Company's cancer tests include
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SOURCE PreMD Inc.
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