Vancouver, British Columbia, July 4, 2016 – LED Medical Diagnostics Inc. (“LED” or the “Company”) (TSX-V: LMD) announces that it is proposing a financing of Cdn$385,000 through the issuance of 13% senior secured debentures of the Company (the “Debentures”) maturing 12 months from the closing date of the financing (the “Closing Date”). The Debentures will be issued to the Bloom Burton Healthcare Lending Trust, as part of a non-brokered private placement of units consisting of: (i) Debentures in the aggregate principal amount of Cdn$385,000; and (ii) a total of 250,000 common shares of the Corporation. The subscription price for the units will be Cdn$385,000.
The Company intends to grant the common shares as a loan bonus in accordance with Exchange Policy 5.1 of the TSX Venture Exchange (the “TSX-V”). The issuance of the Debentures and the common shares is subject to TSX-V acceptance.
The proceeds will be used by LED for general corporate purposes.
All securities issued in connection with the transaction will be subject to a hold period expiring four months after the Closing Date.
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Vancouver, British Columbia, Canada, LED Medical Diagnostics Inc., through its wholly-owned subsidiaries LED Dental Inc. and LED Dental Ltd, provide 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 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 884.952.7327 or visit www.leddental.com/investor-relations.