Dr. David Gane reports

LED MEDICAL DIAGNOSTICS ANNOUNCES CLOSING OF SECOND SECURED DEBENTURES AND PROPOSED CONSOLIDATION OF SHARES ON 10 FOR 1 BASIS

LED Medical Diagnostics Inc. has closed a $2.5-million financing through the issuance of 12 per cent second secured debentures of the company maturing 24 months from the closing date. The debentures were issued as part of a brokered private placement of 250 units, with each unit consisting of: (i) a debenture in the principal amount of $10,000; and (ii) 21,250 common shares of the company. The subscription price for the units was $10,000 per unit. The rights of the subscribers of the debentures and the related security are subordinated to the rights of the holders of debentures previously issued by the company.

Certain insiders of LED, including a director and officer, acquired 10 units in the offering.

The company granted the common shares as a loan bonus in accordance with Policy 5.1 of the TSX Venture Exchange.

Bloom Burton Securities Inc. acted as sole agent to LED for the financing. In connection with the offering, the agent received a cash commission of $88,800 and 888,000 non-transferable warrants. Each warrant entitles the holder to acquire one common share in the capital of LED for a period of 24 months from the closing date at an exercise price of 10 cents per share.

The proceeds will be used by LED to finance inventory purchases and working capital and for general corporate purposes.

All securities issued in connection with the transaction will be subject to a hold period expiring four months and one day after the closing date.

LED also announces that it intends to effect a consolidation of its common shares on a one-for-10 basis. The consolidation is expected to take effect around the end of November, 2017, subject to obtaining all required approvals, including the approval of the TSX Venture Exchange. Assuming no other change in the issued capital of the company, it is expected that upon completion of the consolidation, LED will have approximately 37,914,637 common shares issued and outstanding, reduced from 379,146,372 common shares that are currently issued and outstanding. LED will announce further details of the consolidation upon obtaining all necessary approvals.

Dr. David Gane, chief executive officer of LED, stated: "The increased share price postconsolidation is expected to make LED more attractive to institutional investors and easier to do business with dental support organizations clients and other corporate customers for our unique offering of imaging products and services. It will also more accurately reflect the size and potential of our business."

About LED Medical Diagnostics Inc.

LED Medical Diagnostics is a dental imaging technology provider focused on delivering state-of-the-art imaging software and systems. Through its wholly owned subsidiaries LED Dental Inc., LED Dental Ltd. and Apteryx Inc., LED Medical has provided dentists and oral health specialists with advanced diagnostic imaging products and software for over 20 years. LED's proprietary technologies include the VELscope Vx enhanced oral assessment and Tuxedo intraoral sensors, in addition to Apteryx's XrayVision, XVWeb and XrayVision DCV imaging software solutions.

Backed by an experienced leadership team and dedicated to a higher level of service and support, LED is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.

We seek Safe Harbor.