LED Medical Diagnostics Announces Closing of Senior Secured Debentures and Amendments of Debentures

Vancouver, British Columbia (FSCwire) - LED Medical Diagnostics Inc. (“LED” or the “Company”) (TSX-V: LMD) announced today that is has completed its previously announced financing of Cdn$500,000 through the issuance of 12% senior secured debentures of the Company (the “12% Debentures”) maturing after 24 months.  The 12% 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% Debentures in the aggregate principal amount of Cdn$500,000; and (ii) a total of 750,000 common shares of the Corporation.  The subscription price for the unit was Cdn$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% senior secured debentures in the principal amounts of Cdn$1,100,000 and US$500,000 issued in July and September of 2015, respectively (collectively, the “2015 Debentures”) 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% to 13%.  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 (the “TSX-V”).  All securities issued in connection with the transactions are subject to a hold period expiring four months and one day 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 844.952.7327 or visit www.leddental.com/investor-relations.

Investor Relations:

Glen Akselrod
Phone: 905.326.1888 ext 10

Email: glen@bristolir.com

Media Contact:

LED Dental

Chris Koch

Phone: 678.293.9413

Email: chris.koch@leddental.com

Corporate Contact:

LED Medical

David Gane, CEO

Phone: 604.434.4614 ext 227

Email: david.gane@leddental.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To follow LED Medical Diagnostics Inc. on your favorite social media platform or financial websites, please click on the icons below.

Maximum News Dissemination by FSCwire. http://www.fscwire.com

Copyright © 2016 Filing Services Canada Inc.