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UPDATE: Medicago Awarded Contract From U.S. Department of Defence; Shrs Rose 5% Friday

Medicago Inc. (MDG.TO), which rose 5% and further away from near year lows Friday, has lost a small early gain that saw it touch 40.5 cents. It is now flat at 40 cents as it announced that it has been awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract from the Defense Advanced Research Projects Agency (DARPA) based on Medicago having met all the technical requirement standards for the contract. As a result of Medicago having met these requirements and standards, Medicago is now allowed to bid for the manufacture and delivery of certain tobacco-produced proteins, for which Medicago has already demonstrated a proven ability. Medicago intends to bid on these orders when solicitations are next issued by the U.S. government and may be awarded production contracts.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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