LDIC Inc.

Healthcare Special Opportunities Fund
TSX : MDS.UN

July 15, 2015 09:26 ET

Healthcare Special Opportunities Fund Raises Approximately $62 Million

TORONTO, ONTARIO--(Marketwired - July 15, 2015) -

NOT FOR DISTRIBUTION IN THE UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

LDIC Inc. ("LDIC" or the "Manager") is pleased to announce that the Healthcare Special Opportunities Fund (the "Fund") (TSX:MDS.UN) has completed an initial public offering (the "Offering") of 3,500,000 Class A units ("Class A Units") at a price of $10.00 per Class A Unit and 196,500 Class U units ("Class U Units") at a price of U.S.$10.00 per Class U Unit, for aggregate gross proceeds of approximately $37 million. The Fund also completed a concurrent private placement of Class A Units for gross proceeds of approximately $24.5 million. A second closing of the private placement in respect of 851,301 Class U Units yielding further proceeds of US$8,066,077 is expected to be completed in the coming days. The Class A Units of the Fund are listed and posted for trading on the Toronto Stock Exchange under the symbol "MDS.UN." Class U Units will not be listed on a stock exchange but will be convertible into Class A Units on a weekly basis.

The Fund has granted the Agents (as defined below) an over-allotment option, exercisable for a period of 30 days from today's date, to purchase up to an additional 15% of the Class A Units issued today.

The Fund's investment objective is to provide Unitholders with long-term total return through distributions and capital appreciation of the Fund's investment portfolio. The Fund has been created to invest in an actively managed portfolio comprised primarily of publicly traded issuers and private issuers that derive a significant portion of their revenue or earnings from medical and healthcare products and/or services. The Fund may invest up to 20% of the Fund's total assets in private equity investments to provide investors with exposure to a limited number of investments that the Manager believes have potential for significant upside.

LDIC will be responsible for the execution of the Fund's overall investment strategy, including managing the composition of the Portfolio. Canons Park Advisors, Inc., carrying on business as Dalsin Greene Advisors, will provide LDIC with ongoing analysis regarding the global healthcare sector, including private equity investments.

The syndicate of agents for the Offering is being co-led by BMO Capital Markets and Scotiabank, and includes Canaccord Genuity Corp., GMP Securities L.P., Mackie Research Capital Corporation, Salman Partners Inc., Desjardins Securities Inc., Dundee Securities Ltd., Global Securities Corporation, Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., and PI Financial Corp. (collectively, the "Agents").

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will", and similar expressions to the extent they relate to the Fund and/or the Manager. The forward-looking statements are not historical facts but reflect the Fund's and/or the Manager's 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. Although the Fund and/or the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund and/or the Manager undertake no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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