Mr. Dan Matlow reports
VITALHUB ANNOUNCES EXERCISE OF WARRANTS LED BY INSTITUTIONAL INVESTORS
Vitalhub Corp. warrants have been exercised for net proceeds of $983,700.
The company announced today the exercise of 5,465,000 warrants, with each such warrant being exercisable for one common share of the company at an exercise price of 18 cents, for net proceeds of $983,700. Postexercise of the warrants, total Vitalhub shares outstanding are 165,362,659.
The warrant exercise was primarily led by institutions, demonstrating the support of the Vitalhub's shareholders, recognizing vision and long-term value the company is creating. Recent Q2 results are an indication of this positive growth, having reported adjusted earnings before interest, taxes, depreciation and amortization for the six months ended June 30, 2019, of $1,209,290, representing 23 per cent of revenues, and ending the quarter with $4,860,083 cash on hand.
"It is great to see such strong support for the company from our investors, especially as our stock is trading relatively close to the value of the warrants," said Dan Matlow, chief executive officer of Vitalhub. "Our investors continue to believe in the strategy of the company and recognize our strong track record of execution."
The company intends to use proceeds from the warrant exercised to advance its strategy, including but not limited to use toward future acquisitions and accretive investments.
About Vitalhub Corp.
Vitalhub develops mission-critical technology solutions for health and human services providers in the mental health (child through adult), long-term care, community health service, home health, social service and acute care sectors.
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