Healthcare Special Opportunities Fund Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwired - June 22, 2017) -

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LDIC Inc., as manager of Healthcare Special Opportunities Fund (TSX:MDS.UN) (the "Fund"), a closed-end investment fund, announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Notice of Intention filed by the Fund to make a Normal Course Issuer Bid (the "NCIB"). 

LDIC Inc. believes that purchases of Class A units ("Units") of the Fund pursuant to the NCIB are a constructive use of the Fund's resources and are in the best interests of the Fund. In addition, the purchases by the Fund may increase liquidity to unitholders wishing to sell their Units. Pursuant to the NCIB, the Fund proposes to purchase, from time to time, if it is considered advisable, up to 623,418 Units, representing approximately 10% of the public float. The Fund has issued and outstanding 6,234,182 Units as of June 21, 2017. The Fund will not purchase in any given 30-day period, in the aggregate, more than 124,684 Units, being 2% of the issued and outstanding Units as of the date hereof. Purchases of Units under the NCIB may commence on July 28, 2017. The prices at which Units will be purchased may not exceed the net asset value of such Units as at the prior valuation date for such Units. All purchases will be made through the facilities of the TSX and alternative trading systems in Canada and in accordance with each platform's respective rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on July 27, 2018.