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Intellisense Solutions Inc. Secures $3.5 Million Investment

OMER, Israel, November 1, 2019 – Medigus Ltd. (NASDAQ:MDGS) (TASE:MDGS), a technology company developing minimally invasive tools and an innovator in direct visualization technology, today announced that Intellisense Solutions Inc. (OTC: INLL), a Nevada corporation informed Medigus that it has secured commitments for a $3.5 million investment at a pre-money valuation of $10 million for Medigus’ wholly-owned subsidiary, ScoutCam Ltd.

On September 17, 2019, Medigus announced the signing of a securities exchange agreement with Intellisense which will result in Medigus’ wholly-owned subsidiary, ScoutCam Ltd., becoming a wholly-owned subsidiary of Intellisense, in exchange for 60% of the issued and outstanding share capital of Intellisense. In the event that ScoutCam achieves $33 million in aggregate sales within three years of closing, Intellisense will issue Medigus an additional 10% of its issued and outstanding share capital. The closing of the securities exchange agreement is conditioned upon Intellisense securing an investment of at least $3 million based on a company pre-money valuation of $10 million.

By securing the $3.5 million investment, Intellisense has complied with a significant closing condition, bringing Intellisense and Medigus closer to closing of the securities exchange agreement. The closing of the agreement is subject to further closing conditions.

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Medigus is traded on the Nasdaq Capital Market and the TASE (Tel Aviv Stock Exchange). To learn more about the company’s advanced technology, please visit