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MILESTONE (MMD): Correction of the consolidated quarterly report for fourth quarter 2015

The Board of Directors of Milestone Medical Inc.(WAR: MMD, “the Company”, “the Issuer”) provides the revised consolidated quarterly report for fourth quarter 2015 that was published in EBI report no 3/2016 on February 1, 2016. The correction applies to following notes to consolidated financial statements:

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NOTE 1 - ORGANIZATION, BUSINESS AND BASIS OF PRESENTATION - page 9


Was:

“In December 2015, the company obtained approval of a Prospectus filed with the regulatory authority in Poland to raise an additional $5-7 million of capital and to uplist the Company to the Warsaw Stock Exchange from the New Connect Market (Alternative Trading System).”


Is after the correction:

“In December 2015, the company obtained approval of a Prospectus filed with the regulatory authority in Poland to raise an additional $4 million of capital and to uplist the Company to the Warsaw Stock Exchange from the New Connect Market (Alternative Trading System).”


NOTE 1 - ORGANIZATION, BUSINESS AND BASIS OF PRESENTATION - page 9


Was:

“The Company intends to settle a portion of the outstanding credit agreement upon the successful completion of the fore mentioned public offering.”


Is after the correction:

“The Company intends to convert a portion of the outstanding credit agreement to common shares in the private placement offering upon the successful completion of public offering of common shares.”


NOTE 4 - STOCKHOLDERS’ EQUITY - page 12


Was:

“In December 2015, the company obtained approval of a Prospectus filed with the regulatory authority in Poland to raise an additional $5-7 million of capital and to uplist the Company to the Warsaw Stock Exchange from the New Connect Market (Alternative Trading System).”


Is after the correction:

“In December 2015, the company obtained approval of a Prospectus filed with the regulatory authority in Poland to raise an additional $4 million of capital and to uplist the Company to the Warsaw Stock Exchange from the New Connect Market (Alternative Trading System).”


NOTE 4 - STOCKHOLDERS’ EQUITY- page 12


Was:

“Milestone Medical Inc. entered an agreement with an agent in Poland to provide assistance in raising the capital.”


Is after the correction:

“Milestone Medical Inc. entered an agreement with investment companies in Poland to provide assistance in raising the capital through a public offering of its shares in Poland (with Graviton Capital S.A., Vestor Dom Maklerski S.A. and Biuro Maklerskie ALIOR BANK S.A.)”


NOTE 5 RELATED PARTY TRANSACTIONS - page 12


Was:

“The Company intends to settle a portion of the outstanding credit agreement upon the successful completion of the fore mentioned public offering. “


Is after the correction:

“The Company intends to convert a portion of the outstanding credit agreement to common shares in the private placement offering upon the successful completion of public offering of common shares.”


Legal basis: § 5 paragraph 1, point 1 of the Exhibit 3 to the Alternative Trading System Rules “Current and Periodical Information in the Alternative Trading System on the NewConnect Market"

Osoby reprezentujące spółkę:
Joseph D'Agostino - Chief Financial Officer

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