Attached files

file filename
S-1/A - AMENDMENT #4 - Dehaier Medical Systems Ltdds1a.htm
EX-10.23 - EXHIBIT 10.23 - Dehaier Medical Systems Ltddex1023.htm
EX-8.2 - EXHIBIT 8.2 - Dehaier Medical Systems Ltddex82.htm
EX-23.1 - EXHIBIT 23.1 - Dehaier Medical Systems Ltddex231.htm
EX-10.22 - EXHIBIT 10.22 - Dehaier Medical Systems Ltddex1022.htm
EX-8.3 - EXHIBIT 8.3 - Dehaier Medical Systems Ltddex83.htm
EX-8.1 - EXHIBIT 8.1 - Dehaier Medical Systems Ltddex81.htm
EX-10.21 - EXHIBIT 10.21 - Dehaier Medical Systems Ltddex1021.htm
EX-5.1 - EXHIBIT 5.1 - Dehaier Medical Systems Ltddex51.htm
EX-10.24 - EXHIBIT 10.24 - Dehaier Medical Systems Ltddex1024.htm

Exhibit 5.2

 

LOGO  

Kaufman & Canoles, P.C.

Three James Center, 12th Floor

1051 East Cary Street

Richmond, VA 23219

 

Mailing Address

Post Office Box 27828

Richmond, VA 23261

 

T (804) 771.5700

F (804) 771.5777

 

kaufCAN.com

                        , 2010

Dehaier Medical Systems Limited

1223 Epoch Center

No. 31 Zi Zhu Yuan Road

Haidian District

Beijing 100089

People’s Republic of China

 

  Re: Dehaier Medical Systems Limited

Dear Sir:

We have acted as British Virgin Islands counsel for Dehaier Medical Systems Limited, a British Virgin Islands corporation (the “Company”), in connection with the preparation and filing of the Company’s registration statement on Form S-1 (Registration No. 333-163041) and all amendments thereto (as amended, the “Registration Statement”), as originally filed with the Securities and Exchange Commission (the “Commission”) on November 11, 2009. The Registration Statement relates to the offering (the “Offering”) of (i) up to 1,650,000 of the Company’s common shares, $0.002731 par value per share (the “Shares”) (including up to 150,000 Shares underlying placement agent warrants issued to the placement agent in connection with the offering (the “Placement Agent Warrants”)), and (ii) up to 150,000 Placement Agent Warrants exercisable to purchase one Share each.

In connection with this opinion, we have examined the Registration Statement and the prospectus contained therein (the “Prospectus”), the Company’s Articles and Memorandum of Association, as amended to date, and the originals, or copies certified to our satisfaction, of such records, documents, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinions expressed below (collectively, the “Documents”). We are relying (without any independent investigation thereof) upon an Officer’s Certificate from an Officer of the Company, certifying to the truth and accuracy of the statements, covenants, representations and warranties set forth in the Documents. In addition, for all purposes of this opinion, as to questions of fact material to this opinion, we have, to the extent deemed appropriate, relied upon certain representations of certain officers of the Company.

The following opinion is given only as to matters of British Virgin Islands law and we express no opinion with respect to any matters governed by or construed in accordance with the laws of any jurisdiction other than the British Virgin Islands. We have assumed that there is nothing under any law (other than the laws of the British Virgin Islands) which would affect or vary the following opinion. Specifically, we have made no independent investigation of the laws of the United States of America and we offer no opinion in relation thereto. We offer no opinion in relation to any representation or


warranty given by any party to the Registration Statement or exhibits thereto save as specifically hereinafter set forth. This opinion is strictly limited to the matters stated in it, does not apply by implication to other matters, and only relates to (1) those circumstances or facts specifically stated herein and (2) the laws of the British Virgin Islands, as they respectively exist at the date hereof.

In giving this opinion we have assumed, without independent verification:

1. the genuineness of all signatures and seals, the authenticity of all documents submitted to us as originals, the conformity of all copy documents or the forms of documents provided to us to their originals or, as the case may be, to the final form of the originals and that any markings showing revisions or amendments to documents are correct and complete;

2. that the copies produced to us of minutes of meetings and/or of resolutions are true copies and correctly record the proceedings of such meetings and/or the subject matter which they propose to record and that all factual statements therein contained are true and correct and that any meetings referred to in such copies were duly convened and held and that all resolutions set out in such copy minutes or resolutions were duly passed and are in full force and effect and that all factual statements made in such resolutions, and any other certificates and documents on which we have relied are true and correct (and continue to be true and correct);

3. that the statutory registers of directors and officers, members, mortgages and charges and the minute book of the Company are true, complete, accurate and up to date;

4. the accuracy of all representations, warranties and covenants as to factual matters made by the parties to the Registration Statement and exhibits thereto; and

5. that there is no contractual or other prohibition (other than as may arise by virtue of the laws of the British Virgin Islands) binding on the Company or on any other party prohibiting it from entering into and performing its obligations.

Based upon the foregoing and in reliance thereon, it is our opinion that the common shares of the Company, including any common shares underlying the placement agent warrants, will, upon the receipt of full payment, issuance and delivery in accordance with the terms of the offering described in the Registration Statement and registration in the register of members (shareholders) of the Company, be fully and validly authorized, legally issued, fully paid and non-assessable.

The foregoing opinion is subject to the following reservation and qualification:

In the event that the Registration Statement or exhibits thereto are executed in or brought within the jurisdiction of the British Virgin Islands (e.g., for the purposes of enforcement or obtaining payment), stamp duty may be payable.


We hereby consent to the use of this opinion as an exhibit to the Registration Statement and to the use of our name under the caption “Legal Matters” in the Prospectus constituting a part thereof. In giving such consent, we do not thereby admit that we come within the category of persons whose consent is required under section 7 of the U.S. Securities Act of 1933, as amended, or the Rules and Regulations of the Commission thereunder.

Sincerely,

Kaufman & Canoles, P.C.

[GRAPHIC APPEARS HERE]