Mr. Chris Cosgrove reports
COMPREHENSIVE HEALTHCARE SYSTEMS INC. ANNOUNCES PRIVATE PLACEMENT EXTENSION
Comprehensive Healthcare Systems Inc. has received exchange approval to extend the deadline for its non-brokered private placement of up to 124 million shares at a price of one cent per share for gross proceeds of $1.24-million (see news release dated Dec. 23, 2024) from Feb. 6, 2025, to March 7, 2025.
The extension will allow the company to seek, at its annual shareholder meeting to be adjourned to and held on Feb. 25, 2025, disinterested shareholder approval for the creation of a control person pursuant to the policies of the exchange. To the extent that insider participation in either the offering and/or the shares for debt settlements announced Jan. 23, 2025, is a related party transaction within the meaning of MI 61-101, the company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(b), (c) and (g) and sections 5.7(b) and (e), respectively, of MI 61-101. For further information, please see the company's information circular for the meeting dated Jan. 13, 2025, available on SEDAR+ under the company's profile.
The creation of a control person as well as completion of the offering and the SFD remain subject to, as applicable, all requisite shareholder and exchange approvals.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The company is a vertically integrated software-as-a-service (SaaS) company focused on digitizing health care with health care benefit administration solutions, providing reliable and high-volume-transaction-capable systems. The company's state-of-the-art Novus 360 health care welfare and benefits administration (HWBA) SaaS platform is used by clients for all aspects of health care benefits administration (including self-financed employers, providers and labour unions), providing health care administrative software and technology-enabled services.
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