VANCOUVER, Dec. 5, 2017 /CNW/ - HealthSpace Data Systems Ltd. (the "Company" or "HealthSpace") (CSE:HS) (Frankfurt:38H) is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with Vanbex Capital ("Vanbex") to assist with HealthSpace's continued efforts in blockchain development. Vanbex Capital, an integrated venture studio that invests in high growth blockchain ventures, will make a strategic investment of $1 million into HealthSpace, by way of a private placement. In exchange for the investment, HealthSpace will issue Vanbex Capital, sister company of Vanbex Group, 10,000,000 shares of the Company at a price of $0.10 per share. An additional 600,000 shares will also be issued in the private placement for a total issuance of 10,600,000 shares.
The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four month and one day hold period under securities laws.
HealthSpace intends to use the net proceeds from the private placement for general working capital and to support sales marketing efforts for new commercial enterprise markets, such as restaurants, hospitality, hotels, and cannabis production & distribution as well as development of our blockchain technology.
"We are confident that this investment is the start of a long-term partnership. A partnership that was an easy decision for us because HealthSpace is a leader in their field." said Kevin Hobbs, CEO at Vanbex Capital.
"Vanbex Group has an extensive track record of incubating successful blockchain companies with over 60 blockchain companies in their portfolio some of which are the top companies in the industry globally, and have been able to help their clients raise over $100 Million in ICO's for their clients this partnership will help bring blockchain technology to the masses." said Kevin Hobbs, CEO at Vanbex Capital.
"As we progress towards creating our blockchain platform for audit trails, it's imperative we pick the right partners. Vanbex has the all right track record and experience and brings immense value.", says CTO Silas Garrison. "We couldn't be happier to work with not only them, but are also excited about the opportunity to work with their other portfolio companies. We are sure that together, we can create an unparalleled approach in the blockchain."
HealthSpace will also collaborate with Etherparty, a company in the Vanbex group of companies that is focused on providing an easy-to-use smart contract creation tool and, in particular, running Initial Coin Offerings (ICO). The company believes that this is part of the implementation of blockchain technology. This would allow for the additional generation of revenue through the new technology by extracting value at the transaction level.Etherparty's suite of services and smart contract technology will help accelerate the development and production of the blockchain technology for HealthSpace's specifc use cases which they are already leaders in.
About HealthSpace
HealthSpace is an industry leading technology company currently providing inspection, information, communication and data management systems for federal, state, county and municipal governments. Over the last decade, HealthSpace has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. HealthSpace currently offers the only integrated inspection, administration and analytics product suite across all platforms in North America. Further, HealthSpace now delivers its government grade technologies to private businesses enabling them to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. HealthSpace continues to deliver focused service and innovative solutions to government organizations, while expanding into commercial enterprise verticals to enable new customers with proactive environmental health best practices and policies.
About Etherparty
Etherparty is a contract wizard that removes the complexity of creating, managing, and executing smart contracts on multiple blockchains. The platform allows users with zero knowledge of smart contract programming to create an enforceable, self-executing digital agreement for all types of transactions.
Vanbex Capital
Vanbex Capital is an integrated venture studio and fund that enables public equity investment in a portfolio of seed-stage blockchain ventures that we identify, define and grow.
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE HealthSpace Data
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Media Contact: Vanbex Capital Contact: Todd Hauptman, PR Manager, Vanbex Capital , 604-376-2252, todd@vanbex.com; HealthSpace Data Systems Ltd. Contact: Ali Hakimzadeh, Chairman, HealthSpace Data Systems Ltd., 604-306-5720, ali@sequoiapartners.ca