John Kupice reports
H-SOURCE ANNOUNCES CLOSING OF $1.15 MILLION BROKERED PRIVATE PLACEMENT
Further to its news release of June 25, 2018, H-Source Holdings Ltd. has completed its private placement offering of common shares of the company pursuant to an agency agreement dated July 12, 2018, between H-Source, Mackie Research Capital Corp. as lead agent and sole bookrunner, and Bayfront Capital Partners Ltd. Pursuant to the offering, H-Source sold an aggregate 7,666,667 common shares at a price of 15 cents per common share for aggregate gross proceeds of $1,150,000.05, which includes one million common shares sold pursuant an overallotment option granted to the agents, which was exercised in full.
In consideration of the services rendered by the agents in connection with the offering, the agents received from the company a commission equal to 7.5 per cent of the gross proceeds arising from the offering. As additional compensation, the agents were issued non-transferable options to acquire common shares from treasury in an amount equal to 7.5 per cent of the common shares issued pursuant to the offering. The compensation options are exercisable at a price of 15 cents per compensation option until Jan. 12, 2020.
The net proceeds of the offering will be used for general working capital purposes.
All of the securities of the company issued under the offering are subject to a hold period that will expire on Nov. 13, 2018, in accordance with applicable Canadian securities laws.
About H-Source Holdings Ltd.
H-Source Holdings is a technology company operating within the health care industry through its wholly owned subsidiary, H-Source Inc. The company has developed a transaction platform that provides a private, secure and trusted marketplace for member hospitals to buy, sell and transfer excess inventory supplies and capital equipment with each other.
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