Vancouver, British Columbia (FSCwire) - 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.

 

Investor Relations:

 

Bristol Capital

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.

 

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 expectation to effect the share consolidation including the expectation that LED will be more attractive to institutional investors and easier to do business with Dental Support Organizations clients and other corporate customers. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company'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: economic conditions; dilution; limited history of profits and operations; operational risk; distributor risks; working capital; potential conflicts of interest; speculative investment; intellectual property risks; disruptions in production; reliance on key personnel; seasonality; management’s estimates; development of new customers and products risks; stock price volatility risk; sales and marketing risk; competitors and competition risk; regulatory requirements; reliance on few suppliers; reliance on subcontractors;  operating cost and quarterly results fluctuations; fluctuations in exchange rates; product liability and medical malpractice claims; access to credit and additional financing; taxation; market acceptance of the Company’s products and services; customer and industry analyst perception of the Company and its technology vision and future prospects;  technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; concentration of sales; international operations and sales; management of growth and expansion; dependence upon key personnel and hiring;  the Company not adequately protecting its intellectual property; risks related to product defects and product liability; reliance on third party suppliers; future working capital investments in accounts receivable and inventory; credit terms from suppliers; and including, but not limited to, other factors described in the Company’s reports filed on SEDAR, including its financial statements and management’s discussion and analysis for the three and nine months ended September 30, 2017 and its Annual Information Form and financial report for the year ended December 31, 2016. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. 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.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/LED11292017.pdf

Source: LED Medical Diagnostics Inc. (TSX Venture:LMD, OTCQB:LEDIF, FWB:LME)

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