Company sells 10% one-year senior secured debentures with warrants
By Devika Patel
Knoxville, Tenn., July 16 – LED Medical Diagnostics Inc. said Wednesday that it will raise C$1.1 million in a non-brokered private placement of units with Bloom Burton Healthcare Lending Trust.
The company will sell 110 units of one C$10,000 10% one-year senior secured debenture and 5,950 warrants at C$10,000 per unit.
The warrants are each exercisable at $0.28 for one year.
Proceeds will be used for general corporate purposes.
Based in Burnaby, B.C., LED develops and commercializes medical devices based on its imaging platform to aid in the detection and treatment of disease in human tissues.
Issuer: | LED Medical Diagnostics Inc.
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Issue: | Units of C$10,000 of senior secured debentures and 5,950 warrants
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Amount: | C$1.1 million
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Units: | 110
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Price: | C$10,000
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Maturity: | One year
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Coupon: | 10%
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Warrants: | 5,950 warrants per unit
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Warrant expiration: | One year
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Warrant strike price: | $0.28
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Agent: | Non-brokered
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Investor: | Bloom Burton Healthcare Lending Trust
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Pricing date: | July 15
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Stock symbol: | TSX Venture: LMD
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Stock price: | C$0.28 at close July 14
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Market capitalization: | C$27.61 million
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