On September 4, 2018, LED Medical Diagnostics Inc. (TSXV:LMD) closed the transaction. The company issued 12,175,553 convertible preferred shares at an issue price of CAD 0.45 per share for gross proceeds of CAD 5,480,000. The transaction included participation from 5 placees which included Ewing Morris & Co. Investment Partners for 8,888,888 preferred shares, Polar Asset Management Partners Inc. for 2,005,555 preferred shares and David Gane; President, Chief Executive Officer and Director of the company for 170,000 preferred shares. All securities issued are subject to a hold period of four months and one day from the date of closing. The company has received acceptance for filing documentation from TSX Venture Exchange.