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Dehaier Medical Systems completes $20m strategic financing with Hangzhou Liaison Interactive Information Technology

Dehaier Medical Systems, which develops, markets and sells medical devices and wearable sleep respiratory products in China and international markets, announced that the company has completed its final closing under $20m strategic financing with Hangzhou Liaison Interactive Information Technology, a publicly listed company on the Shenzhen Stock Exchange (Trading Ticker: 002280).

Pursuant to the Share Purchase Agreement (the "Agreement"), the Company sold 11,111,111 restricted common shares for a purchase price of US$1.80 per share for an aggregate of US$20,000,000 to Liaison Interactive.

Liaison Interactive and its designees will also receive warrants to purchase 1,000,000 restricted common shares of the Company at a purchase price of US$2.20 per share. Dehaier Medical previously announced the sale of 620,414 shares on June 6, 2016. The final closing involved the sale of 10,490,697 shares.

The investment funds after deducting fees and expenses (including expenses associated with the repurchase of certain outstanding warrants held by third parties) will be used for the development and marketing of Dehaier Medical wearable sleep apnea products business, and potential mergers and acquisitions.

The Liaison Interactive investment will dramatically improve the Company's ability to expand wearable medical device business and to launch other new smart wearable devices and mobile medical solutions over the next few years. It is an important step in the strategic transformation of the Company.

After this investment, the company expects a more interactive and solid relationship with Liaison Interactive that will leverage Liaison's resources, promote the development of Dehaier Medical's intelligent medical business, accelerate the Company's industrial layout on intelligence medical market, and further optimize Dehaier's overall business strategies to increase market penetration and acceptance.

Through this investment, Liaison Interactive will benefit from Dehaier Medical's access to the medical intelligent hardware market, expanding its intelligent hardware expertise.

Dehaier Medical develops, markets and sells medical products, including medical devices and wearable sleep respiratory products in China and international markets.

The company develops and assembles its self-branded medical devices and sleep respiratory products from third-party components. Dehaier is committed to becoming the solution provider of medical smart wearable devices and professional services.

Dehaier is transforming from a traditional medical equipment supplier to a high-tech enterprise in the field of mobile medical and smart wearable devices. The main business of Dehaier is providing overall solutions including accurate screening, efficient treatment and treatment evaluation for obstructive sleep apnea syndrome ("OSAS") patients.

With the cutting-edge photoplethysomography analysis technology and state-of-the-art sleep diagnosis device, Dehaier made the first application of cloud technology in sleep medicine by managing to upload patients' records, patient information management, and analysis to the cloud.

Dehaier Medical provides sleep diagnostic products and services for inpatients and outpatients in Chinese medical institutions including chronic diseases therapy departments in public hospitals, patients in private physical examination centers and VIP customers of life insurance companies. Dehaier Medical's technology is based on six patents and eleven software copyrights.