CMDF Amalgamation:
Canadian Medical Discoveries Fund Inc. and Canadian Medical Discoveries Fund II Inc. recently completed amalgamation.

• New Fund Codes
  CMDF – Series I: IPX 201 (original CMDF & CMDF II, closed to new purchases) CMDF – Series II: IPX 202 (new purchases)
• One Fund, Two Series, with One Consolidated Portfolio
  The operations of the CMDF Funds will continue as one fund under the name “Canadian Medical Discoveries Fund Inc.” (“CMDF”). Both Series I and Series II are part of the same Fund with one consolidated investment portfolio.
  Amalgamated Entirely at Manager’s Cost
  The amalgamation involved a significant amount of time, effort and expense - all entirely at the cost of the Fund Manager, Medical Discovery Management Corp.
• Benefits to Shareholders
  The Manager and the Board of Directors of each Fund considers the Amalgamation to be advantageous to the shareholders of each Fund for the following reasons:
  1. CMDF will offer each Fund greater capital resources to make investments as appropriate opportunities arise. CMDF’s larger capital resources will permit it to maximize shareholder value by providing the companies in which it invests with the ability to meet their full growth potential;
  2. CMDF will offer the Funds the opportunity to be part of an LSIF Corporation with greater resources, thereby realizing greater economies of scale and lowering the cost of administration per shareholder;
  3. CMDF will offer the Fund’s shareholders investment objectives which are substantially similar to the investment objectives of each Fund; and
  4. CMDF will provide Canadian Medical Discoveries Fund II Inc. significantly greater portfolio liquidity to fund future redemption requests.
• Refocused on Later Stage Private & Public Companies
  CMDF has changed its investment objective and strategy to refocus on later stage private and public health science companies. With the objective of reducing investment risk and accelerating positive performance, the new management team has been extremely active in the strategic restructuring of the CMDF portfolio.