Healthcare Special Opportunities Fund

July 24, 2015 09:37 ET

Healthcare Special Opportunities Fund Completes U.S.$1.76 Million Second Tranche of Private Placement of Class U Units

TORONTO, ONTARIO--(Marketwired - July 24, 2015) -


LDIC Inc. (the "Manager") is pleased to announce that Healthcare Special Opportunities Fund (TSX:MDS.UN) (the "Fund") has completed the second tranche of a previously announced a private placement (the "Private Placement") of Class U units (the "Class U Units") of the Fund. The Fund issued 185,785 Class U Units at a price of U.S.$9.475 per Class U Unit for aggregate gross proceeds of approximately U.S.$1.76 million. In aggregate, the Fund issued 841,257 Class U Units for gross proceeds of approximately U.S.$7.96 million.

The Class U Units under the Private Placement were purchased by principals of Canons Park Advisors LLC, the healthcare industry advisor to the Fund through an exchange of freely tradeable securities.

The Class U Units sold pursuant to the Private Placement will be subject to resale restrictions under applicable securities laws expiring on November 24, 2015.

The Fund is a closed-end investment fund established under the laws of the Province of Ontario to provide unitholders with long-term total return through distributions and capital appreciation of the Fund's investment portfolio by investing in equity and debt securities of issuers that derive a significant portion of their revenue or earnings from medical and healthcare products and/or services.

The Fund will use the net proceeds of the Private Placement to: (i) invest primarily in securities of healthcare issuers in accordance with the Fund's investment objective, strategy and restrictions as soon as practicable after the closing of the Private Placement, and (ii) fund the ongoing fees and expenses of the Fund.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. LDIC Inc. undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no assurance that the Fund will be able to achieve its distribution and capital preservation objectives or that the full amount of a unitholders investment in the Fund will be returned.

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