Dehaier Medical Receives US$20 Million Investment

Dehaier Medical Receives US$20 Million Investment
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Dehaier Medical Systems Ltd. (NASDAQ: DHRM) receives US$20 million to expand their wearable medical device business and to launch other new smart wearable devices and mobile medical solutions over the next few years. The Company entered into a definitive securities purchase agreement with Hangzhou Liaison Interactive Information Technology Co. Ltd., a publicly listed company on the Shenzhen Stock Exchange (Symbol: 002280). Hangzhou Liaison Interactive agreed to purchase 11,111,111 restricted common shares of the Company for an aggregate of US$20,000,000 at US$1.80 per share, which represents a 35% premium to Dehaier Medical’s closing price of $1.33 on April 27, 2016.

Dehaier stock peaked at $2.88 before settling at $1.89 at market close, up $0.56 cents or 42% on volume of over 2,800,000 shares traded, way above its 3 month average of 15K.

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