Early Warning Report Issued Pursuant to National Instrument 62-103 Acquisition of Securities of Vitalhub Corp.

/NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES OF AMERICA/

TORONTO, April 22, 2022 /CNW/ - This press release is being disseminated as required by National Instrument 62–103 - The Early Warning System and Related Take Over Bids and Insider Reporting Issuers in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of securities of Vitalhub Corp. (TSX: VHI) (the "Issuer"), with its head office located at 480 University Avenue, Suite 1001, Toronto, Ontario M5G 1V2, by Shen Capital Fund I L.P., by its General Partner, Shen Capital Management Inc. ("Shen Capital"),  with its head office located at 130 Bloor Street West, Suite 905, Toronto, Ontario, M5S 1N5.

Shen Capital purchased 2,269,175 common shares of the Issuer ("Common Shares") pursuant to a bought deal public offering of the Issuer completed on April 21, 2022 conducted by a syndicate of underwriters led by Cormark Securities Inc. and Eight Capital and included Beacon Securities Limited, Canaccord Genuity Corp. and Roth Canada, Inc. (the "Offering") for $3.10 per Common Share, for aggregate proceeds of $7,034,442.50.

Prior to the Offering, Shen Capital held, directly or indirectly, 4,395,375 Common Shares of the Issuer, representing 11.8% of the issued and outstanding Common Shares on a non-diluted basis, and following the Offering, Shen Capital holds, directly and indirectly, an aggregate of 6,664,550 Common Shares, such amount representing 15.5% of the issued and outstanding Common Shares.   

Shen Capital may increase or decrease its beneficial ownership or control depending on market or other conditions.

A copy of the Early Warning Report with additional information in respect of the foregoing matters may be found on www.SEDAR.com.

The TSX does not accept responsibility for the adequacy or accuracy of this release.

SOURCE VitalHub Corp.

Shen Capital Fund I L.P., by its General Partner, Shen Capital Management Inc., Andrew Shen, Vice-President, Tel: [phone], Email: [email protected]