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Centric Health Announces $10 Million Bought Deal Private Placement of Special Warrants
Centric Health Announces $10 Million Bought Deal Private Placement of Special Warrants ...
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[{"type":"text","content":"\n\n\n\nCentric Health Announces $10 Million Bought Deal Private Placement of Special Warrants\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 14, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO, May 14, 2020 /CNW/ - Centric Health Corporation (\"Centric Health\" or the \"Company\") (TSX: CHH) is pleased to announce that it has entered into an agreement with Beacon Securities Limited (\"Beacon\"), on its own behalf and on behalf of syndicate of underwriters (together with Beacon, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 50,000,000 special warrants of the Company (the \"Special Warrants\") at a price per Special Warrant of $0.20 (the \"Issue Price\") for aggregate gross proceeds of $10,000,000 (the \"Offering\"). \nThe Company has granted the Underwriters an option, exercisable by Beacon on behalf of the Underwriters, in whole or in part at any time up to 48 hours prior to the closing date of the Offering, to purchase up to an additional 7,500,000 Special Warrants at the Issue Price for additional gross proceeds of up to $1,500,000.\nClosing of the Offering is expected to occur on or about June 4, 2020 or such date as the Underwriters and the Company may agree (the \"Closing Date\"). The net proceeds of the Offering are expected to be used for working capital and general corporate purposes.\nEach Special Warrant will entitle its holder to receive one (1) common share of the Company (an \"Underlying Share\").\nAll Special Warrants shall be deemed exercised on behalf of, and without required action on the part of, the holders on the earlier of:\n  I.  the date on which a final receipt is obtained from the Ontario Securities Commission, on behalf of the securities regulatory authorities in each of the Provinces of Canada, for the filling of the final short form prospectus (the \"Final Prospectus\") pursuant to National Instrument 44-10...