11:28:40 EDT Sat 19 Sep 2020
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Vitalhub Corp (2)
Symbol VHI
Shares Issued 18,017,916
Close 2020-02-21 C$ 1.90
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Vitalhub increases bought deal to $13.5-million

2020-02-21 14:01 ET - News Release

Mr. Dan Matlow reports


In connection with Vitalhub Corp.'s previously announced bought deal public offering, the company and a syndicate of underwriters led by Cormark Securities Inc. have agreed to increase the size of the offering. The company will now issue 7.5 million common shares from the treasury of the company at a price of $1.80 per common share for total gross proceeds of approximately $13.5-million.

In addition, the company and the underwriters have also agreed to increase the option granted to the underwriters to purchase up to an additional 15 per cent of the common shares of the offering on the same terms, exercisable, at any time, up to 30 days following the closing of the offering, for market stabilization purposes and to cover overallotments, if any.

The net proceeds of the offering shall be used for growth initiatives, working capital and general corporate purposes.

Closing of the offering is expected to occur on or about March 12, 2020, and is subject to regulatory approval, including that of the TSX Venture Exchange.

The common shares to be issued under the offering will be offered by way of a short form prospectus to be filed in each of the provinces of Canada, except Quebec, and may be offered in the United States on a private placement basis, pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.

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.

The company has a robust, two-pronged growth strategy, targeting organic growth opportunities within its product suite and pursuing an aggressive M&A (mergers and acquisitions) plan. Currently, Vitalhub serves more than 200 clients across North America.

We seek Safe Harbor.

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