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ARTICLE · 07 MARCH 2017

February 2017 Deal Round-Up

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The following is a selection of major deals in the life science space that closed or were announced as closed in February 2017.

CanadaCorporate/Commercial Law
Cameron Mingay
Cameron Mingay
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The following is a selection of major deals in the life science space that closed or were announced as closed in February 2017.

MERGERS & ACQUISITIONS

Date: February 13, 2017

Type: Acquisition

Target: Apteryx, Inc. ("Apteryx")

Acquirer: LED Medical Diagnostics Inc. ("LED") (TSX.V: LMD)

Agent(s): Bloom Burton Securities Inc.

Deal size: Aggregate consideration of US $10.25 million

Description: On February 13, 2017, LED announced that it had completed its acquisition of 100% of the capital stock of Apteryx for aggregate consideration of US $10.25 million. LED paid US $6.987 million in cash and issued approximately 33.9 million common shares of LED at CDN$0.07 per share towards satisfaction of the purchase price, with an additional US $1.2 million to be paid in cash in tranches over the next 18 months from closing and the final payment of US $450,000 to be paid in common shares or cash at LED's option 24 months from closing. Concurrent with

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