Medigus Clarifies its Announcement on ScoutCam's Private Placement

OMER, Israel, March 24, 2021 (GLOBE NEWSWIRE) -- Medigus Ltd. MDGS, a technology company engaged in advanced medical solutions and innovative internet technologies, clarified today that the previously announced $20 million private placement was conducted by its subsidiary, ScoutCam Inc. SCTC and not by Medigus. Medigus will hold 28% of ScoutCam following the consummation of the private placement. The investment represents a pre-money valuation of ScoutCam of approximately $34.2 million.

About ScoutCam

ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com

About Medigus

Medigus is traded on the Nasdaq Capital Market. To learn more about the company's advanced technology, please visit www.medigus.com.

Cautionary Note Regarding Forward Looking Statements

This press release may contain statements that are "Forward-Looking Statements," which are based upon the current estimates, assumptions and expectations of Medigus' management and its knowledge of the relevant market. The company has tried, where possible, to identify such information and statements by using words such as "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate" and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. For example, Medigus uses forward looking statements when describing ScoutCam's closing of the private placement. These forward-looking statements represent Medigus' expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of the ScoutCam's activity to differ significantly from the content and implications of such statements. Other risk factors affecting Medigus and ScoutCam are discussed in detail in the Medigus' filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and Medigus undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither Medigus nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of Medigus' securities. Nothing in this press release should be deemed to be medical or other advice of any kind.

Contact (for media only)
Oz Adler
Chief Financial Officer
+972-8-6466-880
ir@medigus.com