GT Canada Medical Properties Inc (TSX-V: MOB) announces private placement

TORONTO, Aug. 4 /CNW/ - GT Canada Medical Properties announced that it has completed a non-brokered private placement of 1,000,000 common shares at a price of CDN $0.27 per share for gross proceeds of CDN $270,000. All of the common shares issued to subscribers pursuant to the private placement are subject to a four-month hold period expiring December 5, 2010. GT Canada will use the proceeds of the private placement for the purposes of expanding its acquisition pipeline, conducting due diligence and general working capital.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Andrew I. Shapack, Chief Executive Officer, [phone]