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LED Medical Diagnostics Announces Non-Brokered Private Placement

  • January 27, 2015
  • News Releases

BURNABY, British Columbia – January 27, 2015 – LED Medical Diagnostics Inc. (“LED Medical” or the “Company”), announces that, subject to TSX Venture Exchange approval, it is undertaking a non-brokered private placement of up to 10,000,000 units at an issue price of CA$0.25 per unit for gross proceeds of up to $2.5 million. Each unit is comprised of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one common share at an exercise price of US$0.25 for a period of 24 months. All of the securities issued in connection with the private placement will be subject to a restricted period that expires four months after the issuance date. LED Medical may pay finders’ fees with respect to certain subscriptions in accordance with TSX Venture Exchange policies.

The proceeds will be used by LED Medical to support product development related to VELscope® Vx, to replenish imaging product inventory, including an initial stocking order related to the recent Canadian exclusive distribution agreement with Ray Co., a wholly owned subsidiary of Samsung Electronics, and for other working capital purposes.

About LED Medical Diagnostics Inc.

Founded in 2003 and headquartered in Burnaby, British Columbia, Canada, LED Medical Diagnostics Inc., through its wholly-owned subsidiary LED Dental, provides dentists and oral health specialists with advanced diagnostic imaging products and software, in addition to the award-winning VELscope® Vx tissue fluorescence visualization technology. Backed by an experienced leadership team and dedicated to a higher level of service and support, LED Dental is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.

The Company is currently listed on the Toronto Stock Exchange (TSX-V) under the symbol “LMD”, the OTCQX under the symbol “LEDIF”, as well as the Frankfurt Stock Exchange under the symbol “LME”. For more information, call 844.952.7327 or visit www.leddental.com/investor-relations.

Investor Relations:

Beverly Brooks
Investor Relations
Phone: 416.482.8889
E-Mail: investorrelations@leddental.com

Media Contact:

Amanda Ambrus
Phone: 678.825.6601
Email: amanda.ambrus@leddental.com

This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information include statements regarding, but not limited to the Company’s future growth strategy, its distribution strategy and product offerings, potential expansion of the Company’s technology to other medical applications or markets, or the potential introduction of new technologies by the Company. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Corporation’s actual future results or performance may be materially different. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to competition risks, distributor risks, product development risks such as regulatory, design, intellectual property and other factors described in the Corporation’s reports filed on SEDAR including its Annual Information Form and financial report for the year ended December 31, 2013. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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