Premier Health Closes Over-Subscribed Private Placement
VANCOUVER, British Columbia, September 30, 2019 – Premier Health Group (CSE: PHGI, OTCQB: PHGRF, Frankfurt: 6PH) (the “Company” or “Premier Health”), is pleased to announce that it has closed its previously announced (see news release dated September 24, 2019) non-brokered private placement (the “Offering”).
Upon closing of the over-subscribed Offering, the Company issued 5,250,000 units (each a “Unit”) at a price of $0.40 per Unit for gross proceeds of CAD$2,100,000. Each unit will consist of one (1) common share and one-half (1/2) of a share purchase warrant. Each whole warrant will be exercisable for an additional share at a price of $0.65 for a period of two (2) years from issuance.
The Company paid a total of CAD$136,000 for finder’s fees on subscriptions under the Offering, together with 340,000 share purchase warrants (the “Warrants”). Each warrant entitles the holder to purchase one common share of the Company at CAD$0.65 per common share for a period of two (2) years from issuance. All securities issued pursuant to the offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.
Premier Health intends to use the net proceeds of the offering to fund its ongoing growth strategy in the technology healthcare space and for working capital purposes. With this latest placement, the Company confirms it is now funded through Q4-2020.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD”
Chief Executive Officer
About Premier Health
Premier Health is a Canadian company that is strategically poised to take advantage of business opportunities in the global health care industry. We are focused on innovative health care approaches that combine human skill-based expertise with emerging technologies. Premier Health, in conjunction with its subsidiary Cloud Practice, a cloud-based SAAS Electronic Medical Records software company, is developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence (AI). We currently have a combined ecosystem of 290 clinics, over 3000 licensed practitioners and almost 3 million registered patients. The Premier Health team has deep clinical, operational and financial expertise and a passion for improving healthcare for all patients.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
FOR ADDITIONAL INFORMATION CONTACT:
Premier Health Group Inc.
Renmark Financial Communications Inc.
Bettina Filippone: firstname.lastname@example.org
Tel:(416) 644-2020 or (514) 939-3989