Spectral Diagnostics Inc., which develops products for the treatment of sepsis, has announced that shareholders approved the previously announced private placement of 48,750,000 units of the company, for gross proceeds of $19.5 million. Shareholders also approved the previously announced proposed issuance of 2,890,625 common shares of Spectral to GrowthWorks Canadian Fund Ltd. at a deemed price of $0.40 per common share as full repayment and final settlement of a noninterest bearing, unsecured convertible promissory note in the principal amount of $1,156,250 dated June 19, 2006 issued by the Spectral to GrowthWorks Canadian. Shareholders also approved all of the other matters that were voted on, as set out in the proxy circular of the company, dated February 2, 2010.