TORONTO, ONTARIO--(Marketwired - July 17, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

LDIC Inc. (the "Manager") is pleased to announce that Healthcare Special Opportunities Fund (the "Fund") (TSX:MDS.UN) has completed the first tranche of a private placement (the "Private Placement") of Class U Units of the Fund (the "Class U Units"). The Fund issued 655,472 Class U Units at a price of U.S.$9.475 per Class U Unit for aggregate gross proceeds of U.S.$6,210,597. The Class U Units will not be listed on the Toronto Stock Exchange (the "TSX"), but are convertible into Class A units of the Fund, which are listed on the TSX, on a weekly basis.

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

Purchasers of the Class U Units acquired units through an exchange of freely tradeable securities of Patient Home Monitoring Corp. (TSX VENTURE:PHM) ("PHM") and Convalo Health International Corp. (TSX VENTURE:CXV) ("Convalo"). The number of Class U Units issuable for each share of PHM was determined by an exchange price of CDN$1.40 per PHM share and for each share of Convalo by an exchange price of CDN$0.465 per Convalo share, as adjusted for the U.S.$/C$ exchange rate using the WM/Reuters closing spot rate on July 13, 2015.

The Fund expects to close a second tranche of the Private Placement in the coming days for additional gross proceeds of approximately U.S.$1,760,313.

The Units sold pursuant to the Private Placement will be subject to resale restrictions under applicable securities laws expiring on November 18, 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.