Paradigm Completes $2.5 Million Financing

Paradigm Medical Industries announced it has completed a $2.5 million financing involving the sale of secured convertible notes. The financing was obtained through The NIR Group and Laidlaw. The notes will be purchased in three traunches: the first is for $850,000, which Paradigm Medical received upon the signing of definitive investment agreements on April 25, 2005; the second is for $800,000, upon the filing of a registration statement with the SEC; and the third is for $850,000, upon the effectiveness of the registration statement.

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