Mr. David Gane reports

LED MEDICAL DIAGNOSTICS ANNOUNCES CLOSING OF SENIOR SECURED DEBENTURES AND AMENDMENTS OF DEBENTURES

LED Medical Diagnostics Inc. has completed its previously announced financing of $500,000 through the issuance of 12-per-cent senior secured debentures maturing after 24 months. The 12-per-cent debentures were issued to the Bloom Burton Healthcare Lending Trust II, as part of a non-brokered private placement of a unit consisting of: (i) 12-per-cent debentures in the aggregate principal amount of $500,000; and (ii) a total of 750,000 common shares of the corporation. The subscription price for the unit was $500,000.

The proceeds will be used by LED for working capital and general corporate purposes.

LED also announces that it has agreed with the holders of its previously issued 10-per-cent senior secured debentures in the principal amounts of $1.1-million (Canadian) and $500,000 (U.S.) issued in July and September of 2015, respectively, to amend the 2015 debentures by, among other things, extending the terms of the 2015 debentures by five years and increasing the interest rates thereof from 10 per cent to 13 per cent. As consideration for such amendments to the 2015 debentures, LED has issued 1,059,453 common shares of the corporation to the holders of the 2015 debentures.

The company is issuing the common shares as loan bonuses in accordance with exchange Policy 5.1 of the TSX Venture Exchange. All securities issued in connection with the transactions are subject to a hold period expiring four months and one day after the closing date.