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Centric Health Closes Previously Announced Bought Deal Private Placement of Special Warrants
Centric Health Closes Previously Announced Bought Deal Private Placement of Special Warran...
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[{"type":"text","content":"\n\n\n\nCentric Health Closes Previously Announced 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.prnml40{\nMARGIN-LEFT:3.33em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 4, 2020\n\n\n\nTORONTO, June 4, 2020 /CNW/ - Centric Health Corporation (\"Centric Health\" or the \"Company\") (TSX: CHH) announced today that it has closed its previously announced bought deal private placement (the \"Offering\"). Pursuant to the Offering, Centric Health issued 57,500,000 special warrants (the \"Special Warrants\") at a price per Special Warrant of $0.20 for aggregate gross proceeds of $11,500,000, which included the exercise in full of the underwriters' over-allotment option. \nEach Special Warrant will entitle its holder to receive, for no additional consideration, one (1) common share of the Company (an \"Underlying Share\") and may be exercised by the holder thereof at any time after the closing date of the Offering (the \"Closing Date\"), with all unexercised Special Warrants being deemed exercised, without required action on the part of the holders, on the date (the \"Deemed Exercise Date\") that is the earlier of:\nI.   the date on which a final receipt is obtained for the filing of a final short form prospectus (the \"Final Prospectus\") qualifying the distribution of the Underlying Shares (the \"Qualifying Date\"); and \nII.   4:59 p.m. (Toronto time) on the date that is four months and a day following the Closing Date.\nThe Company has agreed to use its commercially reasonable efforts to obtain a receipt for the Final Prospectus (the \"Qualifying Condition\") on or before 5:00 p.m. (Toronto time) on the date that is 70 days following the Closing Date (the \"Qualification Deadline\"). If the Qualifying Condition is not met before the Qualification Deadline, each Special Warrant shall thereafter entitle the holder to receive upon exercise, for no additional consideration, 1.1 Underlying Shares per Special Warrant.\nThe Corporation plans to use the net proceeds from the Offering for working capital and genera...