MCI Onehealth Technologies Inc. Files Final Prospectus and Announces Pricing of Initial Public Offering

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, Jan. 4, 2021 /CNW/ - MCI Onehealth Technologies Inc. ("MCI Onehealth" or the "Company"), announced today that it has obtained a receipt for its final prospectus filed with the securities regulatory authorities in each of the provinces of Canada in connection with the initial public offering (the "Offering") of an aggregate of 6,000,000 Class A Subordinate Voting Shares (the "Offered Shares") of MCI Onehealth at a price of $5.00 per Offered Share (the "Offering Price") for aggregate gross proceeds of $30,000,000. A copy of the final prospectus in respect of the Offering is available on SEDAR at www.sedar.com.

The Offering will be made through a syndicate of underwriters led by Canaccord Genuity Corp. and including Echelon Wealth Partners Inc., Stifel Nicolaus Canada Inc., TD Securities Inc., Eight Capital, Haywood Securities Inc. and Clarus Securities Inc.

Fasken Martineau DuMoulin LLP is acting as legal counsel to MCI Onehealth and Borden Ladner Gervais LLP is acting as legal counsel to the underwriters.

MCI Onehealth have granted the underwriters an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase up to an additional 900,000 Offered Shares at the Offering Price of $5.00 per share for additional gross proceeds of $4,500,000, if the Over-Allotment Option is exercised in full.

The closing of the Offering is expected to occur on or about January 6, 2021, subject to customary closing conditions, at which time the Offered Shares are expected to commence trading on the Toronto Stock Exchange (the "TSX") under the symbol "DRDR". The TSX has conditionally approved the listing of the Offered Shares, subject to fulfilling customary TSX requirements.

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Offered Shares have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act). Accordingly, the Offered Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About MCI Onehealth Technologies Inc.

MCI Onehealth is focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce the cost of healthcare. As one of Canada's leading primary care networks with 25 technology enabled clinics, MCI Onehealth serves over 850,000 patients annually and has been a part of the healthcare community for over 30 years. Since the deployment of MCI/Connect, the company's proprietary digital platform, MCI Onehealth continues to develop an ecosystem of digital applications, which will target modernizing and personalizing the primary care experience. MCI Onehealth additionally offers an expanding suite of occupational health service offerings that support a growing list of over 250 corporate customers. Driven by a proven management team of doctors and experienced executives, MCI Onehealth is executing a strategy focused on acquiring technology and health services that complement its technology and data–focused roadmap. Additional information can be found at www.mcionehealth.com.

Forward Looking Statements

This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects MCI Onehealth's current expectations regarding future events. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond MCI Onehealth's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering and related transactions, the ability to execute on our strategy, and the factors discussed under "Risk Factors" in the final prospectus of MCI Onehealth dated December 29, 2020. MCI Onehealth does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE MCI OneHealth Technologies Inc.