Toronto, Ontario--(Newsfile Corp. - December 19, 2017) - VITALHUB CORP. (TSXV: VHI) (the "Company" or "Vitalhub"), is pleased to announce that it has completed the previously announced non-brokered private placement (the "Offering") of units (the "Units") at a price of $0.115 per Unit, for total gross proceeds of $2,000,000. Each Unit consisted of one common share (each, a "Common Share") and one half of one Common Share purchase warrant (each a "Warrant"). Each Warrant is exercisable into one Common Share at an exercise price of $0.18 per Common Share, for a period of two (2) years from the date of issuance.
Pursuant to the Offering, the Company issued a total of 17,389,352 Common Shares and 8,694,676 Warrants. In connection with the Offering, the Company paid finder's fees totaling $120,185.77 and issued a total of 1,045,055 finder's warrants (each a "Finder Warrant") to certain persons responsible for facilitating subscribers to the Offering. The Finder's Warrants are non-transferable common share purchase warrants which entitle the holder to exercise into one Common Share at an exercise price of $0.18 per Common Share, for a period of two (2) years from the date of issuance.
The Company intends to use the net proceeds of the Offering for general working capital purposes.
All securities issued in connection with the Offering are subject to a four month hold period expiring April 20, 2018.
About VitalHub
VitalHub delivers an innovate platform for the creation of mobile health applications that increases productivity within healthcare settings. The VitalHub platform provides the ability to integrate existing individual healthcare applications while maintaining the control, security and privacy essential in healthcare. VitalHub's applications are focused on the fast-growing mental health and long term care markets and the company plans to strategically acquire and grow business in these areas. Currently over 50 healthcare institutions across Canada use products from VitalHub and its subsidiaries.
VitalHub is based in Toronto, ON, and publicly traded on the TSX Venture Exchange: VHI.
For further information please contact:
Dan Matlow
Chief Executive Officer, and Director
(416) 727-9061
dan.matlow@vitalhub.com
Cautionary Statements
The TSX Venture Exchange has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
