Mr. Mark Kohler reports
EXELERATE CAPITAL CORP. (FORMERLY EXELERATE HEALTH INC.) CLOSES ADDITIONAL PRIVATE PLACEMENT EQUITY FINANCING
Exelerate Capital Corp. has closed another non-brokered private placement, pursuant to which the company raised gross proceeds of $499,905 through the issuance of 3,703,000 common shares at a price of 13.5 cents per share.
In connection with the private placement, the company agreed to pay finders' fees totalling $5,000 in cash to an unrelated agent in lieu of expenses.
The net proceeds from the private placement will be used for due diligence and acquisition activities, and for general working capital. All issued shares are subject to a statutory hold period under Canadian securities legislation expiring on Feb. 10, 2020.
"I continue to be very pleased with the meaningful support we have received to date, from key strategic family offices and technology investors, as we continue to search for our qualifying transaction," said Mark W. Kohler, chief executive officer of the company. "We're seeing significant potential value in focusing on acquiring health care technology businesses that support the building of a secure 'Information Supply Chain' in the vast market called digital health; and the associated technologies that enable impactful and effective transitions of patients and data in that critical space from a hospital back to the home."
About Exelerate Capital Corp.
The company is a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange.
We seek Safe Harbor.
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