Business
Alternate Health Closes First Tranche of Financing Agreement
Alternate Health Closes First Tranche of Financing Agreement.
About this update from Alternate Health Corp
[{"type":"text","content":"\n\n\n\nAlternate Health Closes First Tranche of Financing Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlternate Health Closes First Tranche of Financing Agreement\nCanada NewsWire\nTORONTO, July 5, 2019\n\n\n\nTORONTO, July 5, 2019 /CNW/ - Alternate Health Corp., (\"Alternate Health\" or the \"Company\") (CSE:AHG) (OTCQB:AHGIF), an international leader in CBD extraction, product development and distribution, announced today that the Company closed the first tranche of its financing arrangement with Alpha Blue Ocean as initially announced on June 14, 2019 and June 17, 2019 (the \"Financing\"), pursuant to the terms of an amended and restated subscription agreement dated July 3, 2019 (the \"Subscription Agreement\").\n\n \n \n\n \nPursuant to the terms of the Subscription Agreement, as part of the closing of the first tranche of the Financing, the Company issued to European High Growth Opportunities Securitization Fund (\"EHGO\") a convertible debenture (the \"Debenture\") in the principal amount of $200,000 and share purchase warrants (the \"Warrants\") exercisable to acquire up to 3,121,212 common shares of the Company (the \"Shares\") for a period of three years at a price of $0.33 per Share. The Debenture and Warrants otherwise have the terms described in the June 14, 2019 news release. The Debentures and Warrants are subject to a hold period of four months and one day from issuance.  Further terms of the Financing are set out in the Subscription Agreement as filed on SEDAR and available under the Company's profile at www.sedar.com.\nThe Company paid a cash finders' fee of 6% of the principal amount of the Debenture to an arms' length finder on the closing.\nThe Company expects to close a second tranche of the Financing within approximately one week at which time the Company expects to issue to EHGO a convertible debenture in the principal amount of $500,000 with a term of 12 months, together with accompanying share purchase warrants. Alternate Health intends to use the funds from this financing facility to expand its hemp-derived product line ...