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CareRx Receives Receipt for Short Form Prospectus
CareRx Receives Receipt for Short Form Prospectus Canada NewsWire TORONTO, Aug. ...
About this update from Carerx Corporation
[{"type":"text","content":"\n\n\n\nCareRx Receives Receipt for Short Form Prospectus\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\n\nCanada NewsWire\nTORONTO, Aug. 11, 2020\n\n\n\nTORONTO, Aug. 11, 2020 /CNW/ - CareRx Corporation (\"CareRx\" or the \"Company\") (TSX: CRRX), Canada's leading provider of specialty pharmacy services to seniors, has now received a receipt (the \"Final Receipt\") for its final short form prospectus dated August 10, 2020 (the \"Prospectus\"). The Prospectus qualifies the distribution of an aggregate of 2,875,000 common shares of the Company (the \"Common Shares\"), which are issuable for no additional consideration upon the deemed exercise of 57,500,000 special warrants of the Company (the \"Special Warrants\") that were issued under a bought deal private placement conducted by a syndicate of underwriters led by Beacon Securities Limited that closed on June 4, 2020 (the \"Offering\"). The Special Warrants were issued at a price of $0.20 per Special Warrant for aggregate gross proceeds of $11,500,000, which included the exercise in full of the underwriters' over-allotment option. \nPursuant to a special warrant indenture dated June 4, 2020 between the Company and TSX Trust Company, the Special Warrants will be automatically exercised into Common Shares, without payment of any additional consideration, on the third business day after the Final Receipt is obtained, being August 13, 2020 (the \"Qualification Date\"). In addition, the 3,450,000 underwriters special warrants that were issued to the underwriters at the closing of the Offering will be converted into 172,500 Common Share purchase warrants (the \"Underwriter Warrants\") on the Qualification Date, with each Underwriter Warrant entitling the underwriters to purchase one Common Share at an exercise price of $4.40 until June 4, 2022.\nFor more information on the Offering, please refer to the Prospectus, as well as the Company's news release dated June 4, 2020, available on the Company's profile on SEDAR at www.sedar.com.\nAbout CareRx Corporation \nCareRx (formerly Centric Health Corporation) is Canada's leadi...