MedPro completes issuance of final tranche of Senior Secured 14% Notes due 2016

Oct 6 2010

MedPro Safety Products, Inc. (OTCBB:MPSP), a leading developer of transformational technologies that enable safer medication delivery and blood collection, announced today that it has completed the issuance of a final $5 million tranche of Senior Secured 14% Notes due 2016 in a private placement with institutional investors. The terms of the Notes are the same as the Senior Secured Notes sold in the initial $25 million tranche announced on September 1. MedPro received approximately $4.6 million in net proceeds from the transaction reported today, which was managed by Cowen and Company, LLC.

"With the closing of this transaction, we have additional financial resources to accelerate the development of our remaining product portfolio without further dilution to our shareholders," said Craig Turner, Chairman and CEO of MedPro. "With the proceeds from the previously announced Notes placement and the transaction reported today, as well as the retirement of all term debt, we now have approximately $17.5 million available to execute our plan. Our goal is to generate revenue from at least one of the four products remaining in our portfolio by the end of 2011. All four of the products provide distinct advantages to both the patient and the caregiver including a higher level of safety without modifying application procedure. The response we have received from major global medical supply companies to our products has been exceptionally strong and we are actively pursuing negotiations that would position us to begin generating returns to our shareholders," Mr. Turner concluded.