Vancouver, British Columbia, November 29, 2017 – LED Medical Diagnostics Inc. (“LED” or the “Company”) (TSXV: LMD) is pleased to announce that the TSX Venture Exchange has approved the consolidation of its common shares on a 10 for 1 basis. The consolidation will take effect at the open of market on Thursday, November 30, 2017. 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.
At the open of market on Thursday, November 30, 2017, the CUSIP number for the common shares of LED will change to 50184T406, however the Company’s trading symbol and name will not change. No fractional common shares will be issued and no cash will be paid in lieu of fractional, post-consolidation common shares. The number of post-consolidation common shares to be received by a shareholder will be rounded such that a fractional share of less than one-half of a share will be rounded down to the nearest whole number and a fractional share of one-half or more will be rounded up to the nearest whole number.
Dr. David Gane, CEO of LED Medical Diagnostics, stated: “The increased share price post consolidation 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
LED Medical Diagnostics Inc. 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. The Company is currently listed on the TSXV under the symbol LMD, the OTCQB under the symbol LEDIF, as well as the Frankfurt Stock Exchange under the symbol LME.