The TSX Venture Exchange has accepted for filing documentation pertaining to the arm's-length acquisition of four diagnostic imaging clinics located in Alberta, pursuant to purchase agreements between the company and arm's-length parties.

Pursuant to the terms of the agreements, the company will pay the following consideration to the vendors for the acquisition: (i) aggregate cash consideration of $4,631,500; and (ii) issuance of 1.13 million units of the company, comprising:

• One common share at an issue price of 10 cents per common share;
• One 12 per cent cumulative redeemable convertible Class A Series 1 preferred share at an issue price of 90 cents per preferred share. Each preferred share is non-voting, carries a cumulative annual dividend of 12 per cent payable quarterly, along with a top-up dividend of 25 per cent of the portion of the company's EBITDA (earnings before interest, taxes, depreciation and amortization) that is above $2-million per year. The maximum number of common shares issuable on conversion of the preferred shares is up to 5.65 million common shares.

For further details, please refer to the company's news releases dated Nov. 21, 2022, March 6, 2023, Sept. 14, 2023, and Oct. 11, 2023.