Mr. Stephen Kilmer reports

IMAGIN MEDICAL CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT

Imagin Medical Inc., further to its press release of Jan. 7, 2020, has closed its non-brokered private placement, issuing 38.28 million units at five cents per unit for proceeds of $1,914,000.

Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional share at 15 cents for a period of 24 months, provided that, in the event the closing price of the company's shares is equal to or greater than 25 cents per share for 10 consecutive trading days, the company may, by notice to the warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the warrants to not less than 30 days following the date of such notice.

Total finders' fees will be paid in the form of cash in the amount of $52,790 and 1,055,800 finders' warrants (exercisable at five cents per share for 24 months).

All securities issued will be subject to a four-month hold period.

The net proceeds of the offering will be used for the continued development of the i/Blue imaging system, management of the U.S. Food and Drug Administration approval process for i/Blue, and general working capital.

"The success of this offering strengthens Imagin's financial position at an important time as we continue to drive our i/Blue technology to the marketplace," said Jim Hutchens, Imagin's president and chief executive officer. "We appreciate our investors' confidence."

About Imagin Medical Inc.

Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures.

We seek Safe Harbor.