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Vitalhub Corp (2)
Symbol VHI
Shares Issued 18,017,916
Close 2020-03-17 C$ 1.40
Recent Sedar Documents

Vitalhub closes $15.3M bought-deal offering

2020-03-17 09:22 ET - News Release

Mr. Dan Matlow reports

VITALHUB CORP. ANNOUNCES CLOSING OF BOUGHT DEAL OFFERING

Vitalhub Corp. has closed its previously announced bought-deal offering pursuant to a press release dated Feb. 21, 2020. A total of 8,506,300 common shares of Vitalhub were sold at a price of $1.80 per common share for total gross proceeds of approximately $15.3-million. The offering was conducted by a syndicate of underwriters led by Cormark Securities Inc. and including Beacon Securities Ltd. and Canaccord Genuity Corp. The offering included 1,006,300 common shares issued pursuant to the exercise of a portion of the overallotment option granted to the underwriters. The common shares were qualified for distribution by a short-form prospectus in the provinces of Ontario, British Columbia and Alberta.

In connection with the offering, the company paid the underwriters a cash commission of $839,363.40 and issued to the underwriters 228,750 broker warrants. Each broker warrant entitles the underwriters to purchase a common share at an exercise price of $2.10 until March 17, 2022.

The net proceeds of the offering will be used for growth initiatives, working capital and general corporate purposes. The company's growth initiative is focused on the acquisition of third party enterprises in the health care industry which provide synergistic opportunities for the company.

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.

We seek Safe Harbor.

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