Klinik Health Ventures Corp. Completes Initial Public Offering as a Capital Pool Company

TORONTO, Dec. 3, 2019 /CNW Telbec/ - Klinik Health Ventures Corp. (the "Corporation"), a capital pool company, is pleased to announce that on December 3, 2019 it successfully completed its initial public offering (the "Offering") of 15,000,000 common shares (the "Shares") at a price of $0.20 per Share, for gross proceeds of $3,000,000 through its agent, Bloom Burton Securities Inc. (the "Agent"). Following the closing of the Offering, a total of 19,347,500 Shares are issued and outstanding, of which 4,347,500 are currently held in escrow pursuant to the policies of the TSX Venture Exchange (the "Exchange").

The net proceeds of the Offering, together with the proceeds from prior sales of common shares, will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the Exchange's capital pool company program.

In connection with the Offering, the Agent received a cash commission and the Corporation granted to the Agent (and sub-agents) non-transferable options to purchase up to 1,500,000 Shares at a price of $0.20 per Share and which may be exercised until December 3, 2021.

The board of directors of the Corporation consists of Eva Koci, N. Nicole Rusaw, Dan Legault and Walt Macnee.

An aggregate of 1,395,000 stock options have also been granted to all the directors and officers of the Corporation to acquire Shares of the Corporation at an exercise price of $0.20 per Share with an expiry date of December 3, 2024.

The common shares are expected to commence trading on the Exchange on or around December 6, 2019 under the trading symbol "KHV.P".

For further information please see the Corporation's prospectus dated November 22, 2019, available under the Corporation's profile on SEDAR at www.sedar.com

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Corporation's plans and intentions, listing of the Shares on the Exchange, use of proceeds of the Offering and completion of a Qualifying Transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Klinik Health Ventures Corp.

Klinik Health Ventures Corp., N. Nicole Rusaw, Chief Financial Officer, [email protected]