HealthSpace Closes Private Placement with Blockchain Firm Vanbex Capital

VANCOUVER, Dec. 7, 2017 /CNW/ - HealthSpace Data Systems Ltd. ("HealthSpace") is pleased to announce that it has closed its previously announced private placement for gross proceeds of $1,060,000.  As mentioned in the Company's December 5, 2017 news release, Vanbex Capital, sister company of Vanbex Group was issued 10,000,000 shares of the Company at a price of $0.10 per share.  An additional 600,000 shares were also issued for a total issuance of 10,600,000 shares.

The Company intends to use the net proceeds from the private placement for general working capital and to support sales marketing efforts for new commercial enterprise markets, such as restaurants, hospitality, hotels, and cannabis production & distribution as well as development of our blockchain technology.

HealthSpace Data Systems Ltd.

HealthSpace is an industry leading technology company currently providing inspection, information, communication and data management systems for federal, state, county and municipal governments. Over the last decade, HealthSpace has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. HealthSpace currently offers the only integrated inspection, administration and analytics product suite across all platforms in North America. Further, HealthSpace now delivers its government grade technologies to private businesses enabling them to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. HealthSpace continues to deliver focused service and innovative solutions to government organizations, while expanding into commercial enterprise verticals to enable new customers with proactive environmental health best practices and policies.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE HealthSpace Data

Ali Hakimzadeh, Chairman, 604-306-5720, [email protected]