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China Health Labs & Diagnostics closes qualifying transaction and equity financing

Fasken
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Client

Canaccord Genuity Corp.

On October 22, 2010, China Health Labs & Diagnostics Ltd. (formerly known as CCS Capital Inc.) announced that it had completed its Qualifying Transaction with Whole Vision Limited, which includes Biochem Hengye Science & Technology Development Co., Ltd., and other related and associated companies. The TSX Venture Exchange has confirmed the listing of China Health as a Tier 1 Issuer. China Health resumed trading on the Exchange on October 25, 2010 with the stock symbol "CHO". Concurrent with the completion of the Qualifying Transaction, China Health completed a brokered private placement financing of 6,107,834 shares of China Health at a price of $0.60 per share for gross proceeds of $3,664,700. The net proceeds from the financing will be used by China Health to further its business objectives of developing of its rural "total lab solution" business, as well as for R&D and general working capital purposes. China Health's business goal is to provide high quality medical diagnostic equipment and medical reagents in China. Canaccord Genuity Corp. acted as financial advisor and agent in connection with both the Qualifying Transaction and the financing. Canaccord Genuity was advised in these transactions by Rubin Rapuch of Fasken Martineau.

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