Medicago Inc (C:MDG)
Shares Issued 34,262,440
Last Close 9/8/2008 $0.35
Tuesday September 09 2008 - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Aug. 29, 2008.

Number of shares: 11.05 million

Purchase price: 20 cents per common share

Warrants: 5,525,000 common share purchase warrants to purchase 5,525,000 common shares

Warrant exercise price: 30 cents during the 12 months following the closing of the private placement

Hidden placees: 103

Pro group participation: Louis Paquet, 300,000; Stephane Paquet, 150,000; Bernard Morin, 150,000; Nicholas Shinder, 40,000; Thierry Tremblay, 40,000; Pasqual Drolet, 13,000; Cameron McDonald, 25,000; Fiducie Stephane Rail, 180,000; Stephane Rail, 50,000; Francois Carrier, 25,000; Jolyon Burton, 75,000; David Martin, 25,000; Sylvie Dallaire, 25,000

Insider participation: Louis Vezina, 50,000 Pierre Labbé, 200,000 Frederic Ors, 75,000 Andrew J. Sheldon, 125,000 Joddes Ltd , 125,000 Randal Chase, 75,000 Pierre Seccareccia, 50,000 Brigitte Barbeau, 15,000

Finders: Canaccord Capital Corporation, Dundee Securities Corporation, Blackmont Capital inc., Pure Advertising & Marketing Inc., CIBC World Markets Inc. and National Bank Financial Inc.

Finders' fees: $122,050 in cash

The company has confirmed the closing of the above-mentioned private placement by way of a press release dated Aug. 29, 2008.