Dehaier Medical Announces Formation of Independent Special Committee to Consider Investment Proposal

BEIJING, Dec. 3, 2015 /PRNewswire/ -- Dehaier Medical Systems Ltd. (Nasdaq: DHRM) ("Dehaier Medical" or the "Company"), which develops, markets and sells medical devices and wearable sleep respiratory products in China and international markets, today announced that its board of directors (the "Board") has formed a special committee (the "Special Committee") to consider the previously filed non-binding investment proposal letter that the Board received from Hangzhou Liaison Interactive Information Technology Co. Ltd. ("Liaison Interactive"), a publicly listed company on the Shenzhen Stock Exchange (Trading Ticker: 002280) on December 1, 2015. In that proposal, the Liaison Interactive stated that it proposes to make an equity investment in Dehaier Medical in an aggregate amount of US$20 million, subscribing for 10 million newly issued common shares of the Company for $2.00 per share.

No member of the Board has an interest in the proposal. Moreover, the Special Committee consists of three independent directors of the Company, Mr. Mingwei Zhang, Dr. Genghui Chen and Mr. Xiaoguang Shen with Mr. Mingwei Zhang acting as the chair of the Special Committee. The Special Committee intends to retain independent legal and financial advisors to assist it in its process.

The Board cautions the Company's stockholders and others considering trading in its securities that the Board just received the non-binding proposal letter from Liaison Interactive and no decisions have been made with respect to the transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable laws.

About Dehaier Medical Systems Ltd.

Dehaier Medical is an emerging leader in the development, marketing and sale of medical products, including medical devices and wearable sleep respiratory products. The company develops and assembles its self-branded medical devices and sleep respiratory products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), HEYER (Germany) and Timesco (UK). Dehaier Medical's technology is based on six patents and eleven software copyrights. More information may be found at http://www.dehaier.com.cn.

Forward-looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, fulfillment of bids and contracts, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Dehaier Medical Systems Limited
Janice Wang
+86 10-5166-0080 ext. 211
[email protected] 

SOURCE Dehaier Medical Systems Ltd.

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