WELL Health Technologies Corp. Announces Increase in Previously Announced Bought Deal Financing
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, June 4, 2019 /CNW/ - WELL Health Technologies Corp. (TSX-V: WELL) ("WELL" or the "Company") is pleased to announce that it has amended the terms of its previously announced bought deal with an increase to the Underwriter's Option from $1,500,000 to $2,500,000. The Offering is being underwritten by GMP Securities L.P. (the "Lead Underwriter" and, collectively with the syndicate, the "Underwriters").
If the Underwriters' Option is exercised in full, the aggregate gross proceeds of the Offering will be $10,500,000.
The Offering is expected to include aggregate subscriptions of $500,000 from Mr. Li Ka-shing, and $350,000 from management of the Company.
The terms of the financing and use of proceeds remain as previously disclosed in all other respects.
Contact:
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
For further information
Pardeep S. Sangha
VP Corporate Strategy and Investor Relations
[email protected]
www.WELL.company
604-628-7266
About WELL Health Technologies Corp.
WELL is a unique company that operates Primary Healthcare Facilities as well as a significant EMR or Electronic Medical Records business that supports the digitization of such clinics. WELL's overarching objective is to empower doctors to provide the best and most advanced care possible leveraging the latest trends in digital health. In the last 12 months, WELL physicians served approximately 600,000 patient visits through its network of 19 medical clinics. WELL is publicly traded on the TSX Venture Exchange under the symbol WELL.V. WELL was recognized as a TSX Venture 50 Company in 2018 and 2019.
Notice Regarding Forward Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, the intended use of proceeds of the Offering and WELL's opportunity to consolidate and modernize primary healthcare facilities. There are numerous risks and uncertainties that could cause actual results and WELL's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the primary healthcare sector in general; (iii) that the proceeds of the Offering may be used other than as set out in this news release and other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE WELL Health Technologies Corp.
Pardeep S. Sangha, VP Corporate Strategy and Investor Relations, [email protected], www.WELL.company, 604-628-7266
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