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European High Growth Opportunities Securitization Fund Closes Second Tranche of Financing Arrangement with Alternate Health Corp.
European High Growth Opportunities Securitization Fund Closes Second Tranche of Financing Arrangement with Alternate Health Corp..
About this update from Alternate Health Corp
[{"type":"text","content":"\nTORONTO, July 17, 2019 (GLOBE NEWSWIRE) -- European High Growth Opportunities Securitization Fund (the “Fund”) announced today that the Fund closed the second tranche of its financing arrangement with Alternate Health Corp. (\"Alternate Health\" or the \"Company\") (CSE:AHG) (OTCQB:AHGIF), an international leader in CBD extraction, product development and distribution,  as initially announced by Alternate Health 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 Pursuant to the terms of the Subscription Agreement, as part of the closing of the second tranche of the Financing, the Company issued to the Fund a convertible debenture (the “Debenture”) in the principal amount of $500,000 and share purchase warrants (the “Warrants”) exercisable to acquire up to 227,272 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 Company’s press release dated June 14, 2019. 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. Immediately following the Closing, the Fund, directly or indirectly, beneficially owns or exercises control over (i) an aggregate principal amount of $700,000 Debentures; (ii) 3,348,484 Warrants; and (iii) 3,100,000 Shares. Based on the foregoing, the Fund, directly or indirectly, beneficially owns or exercises control or direction over 3,100,000 Shares, representing approximately 4.58% of the currently issued and outstanding Shares on a non-diluted basis, and 8,948,483 Shares, representing approximately 12.16% of the issued and outstanding Shares on a partially-diluted basis, assuming the conversion of the aggregate principal amount of $700,000 Debentures and the exercise of 3,348,484 Warrants. Debentures and Warrants were acquired by the Fund for investment purposes. Depending on market and other conditions, the Fund may, directly or indirectly, acquire ownership or control over addi...