LED Medical Diagnostics Clarifies Announcement of Non-Binding Letter of Intent to Acquire Technology Company to Accelerate Growth

Press Releases  |

VANCOUVER, BC--(September 17, 2015) - LED Medical Diagnostics Inc. (LMD:CA) (LEDIF) (FRANKFURT: LME) ("LED Medical" or "the Company") wishes to clarify its announcement earlier today that the Company has entered into a non-binding Letter of Intent (“LOI”) to acquire 100% of a growing and profitable technology company that would complement LED’s existing business and provides a platform to assist LED in achieving its strategic, long-term business objectives.

The acquisition is arms’ length and would not represent a reverse takeover of LED Medical or a fundamental acquisition under TSX Venture Exchange policies and no change of control of LED Medical will result from the acquisition. The revenues and assets of the target represent less than 100% of LED Medical’s existing revenues and assets. The financing structure of the transaction is to be determined following completion of due diligence. Upon negotiation of the terms of the acquisition, the Company will disclose the terms of the acquisition by way of further press release.

The Company has engaged Bloom Burton & Co. Limited, a Toronto-based, healthcare specialized investment bank to act as financial advisor to the Company on the proposed transaction.

Completion of the proposed transaction is subject to a number of conditions, including the negotiation and settlement of definitive terms for the proposed transaction and the entering into of a definitive share purchase agreement among the parties, completion of due diligence, receipt of board approval, receipt of final approval of the TSX Venture Exchange, and the receipt of certain other customary consents. There can be no assurance that the Proposed Transaction will be completed.

About LED Medical Diagnostics Inc.

Founded in 2003 and headquartered in Burnaby, 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 Venture 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.

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.

Forward Looking Statements

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 acquisition transactions and their effect on revenues, EBITDA and net earnings, 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, acquisition completion and integration risks, risks relating to any financing of potential acquisitions including debt and dilution 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.

Contact Information

LED Medical Diagnostics

Investor Relations:
MZ Group
Mike Cole
Phone: 949-444-1341
Email: mike.cole@mzgroup.us

Media Contact:
LED Dental
Chris Koch
Phone: 678.293.9413
Email: chris.koch@leddental.com

Corporate Contact:
LED Medical
David Gane
Phone: 604-434-4614 x227
Email: david.gane@leddental.com

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer



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