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Jolt Health Inc
Symbol JOLT
Shares Issued 77,289,723
Close 2024-03-27 C$ 0.005
Market Cap C$ 386,449
Recent Sedar Documents

Jolt Health closes $500,000 private placement

2024-03-27 16:54 ET - News Release

An anonymous director reports

JOLT HEALTH INC. ANNOUNCES CLOSING OF FINANCING

Jolt Health Inc. has closed its previously announced non-brokered private placement. The company accepted subscriptions for 50 million units at a price of one cent per unit for gross proceeds of $500,000.

One insider of the company subscribed for an aggregate of 1.5 million units of the company. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

Pursuant to the terms of the financing, each unit consists of one common share in the equity of the company and one-half common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of five cents per share for a period of two years from the closing of the financing, subject to the option of the company to accelerate the expiry date in the event that its shares trade at 15 cents or more for 10 consecutive days.

Securities issued are subject to trading restrictions until July 28, 2024.

Proceeds will be used for general working capital and repayment of debt, except accrued salaries to officers or directors or payment for investor relations.

About Jolt Health Inc.

Jolt Health is a leading life sciences company focused on health care, biotechnology and artificial intelligence. The company currently holds exclusive licences for innovative therapeutic and pharmaceutical products throughout Europe, the United Kingdom and North America. The company is committed to transforming the industry through research, collaboration and technological advancement, shaping the future of health care worldwide.

We seek Safe Harbor.

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