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UPDATE - ProUroCare Announces $3 Million Financing Agreement
Date:9/29/2010

$300,000 in 30-day increments.  At each closing, ProUroCare will sell unregistered shares of its common stock to Seaside at a cost that is 50 percent of the stock's volume weighted average selling price during the 10 trading days preceding each closing date, subject to a floor selling price of $1.25 per share below which neither of the parties is obligated to close.  The agreement provides that the closing on any tranche will not occur if it would cause Seaside to beneficially own more than 9.9 percent of ProUroCare's common stock.  They have indicated their willingness to propose an alternative investment vehicle to provide the financing, as they have in other transactions, should a subsequent closing otherwise cause Seaside to exceed this ownership level.  After the first closing, Seaside holds approximately 8.9 percent of ProUroCare's outstanding stock.

"Seaside has demonstrated a longstanding commitment to small and mid-cap companies, allowing them to concentrate on their core competencies and market opportunities.  Their track record of successful investing lends support to the work that has been done by our company in preparing the ProUroScan system for market," said Carlson.  

This transaction was facilitated by Lane Capital Markets of Southport, Conn., which has been engaged to provide ongoing, strategic fundraising and financial advisory support to the company.

About ProUroCare Medical Inc.

ProUroCare Medical Inc. is a publicly traded company engaged in the business of developing innovative medical imaging products. The company's current focus is the ProUroScan prostate imaging system, which is used to document abnormalities of the prostate detected by a digital rectal examination.

Safe Harbor Statement

This news release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statemen
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SOURCE ProUroCare Medical Inc.
Copyright©2010 PR Newswire.
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