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Comprehensive Healthcare Systems Inc. Announces Shares for Debt Settlement
Calgary, Alberta--(Newsfile Corp. - January 23, 2025) - Comprehensive Healthcare Systems Inc. (TS...
About this update from Comprehensive Healthcare Systems Inc
[{"type":"text","content":"Comprehensive Healthcare Systems Inc. Announces Shares for Debt SettlementCalgary, Alberta--(Newsfile Corp. - January 23, 2025) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the \"Company\" or \"CHS\"), an industry leader in healthcare benefits administration software and services, announces that the Company has agreed with certain creditors to, subject to the completion of a 20 old for 1 new consolidation of the common shares of the Company, settle an aggregate of approximately $832,042 in debt through the issue of up to 5,546,946 post-consolidation common shares at a deemed price of $0.15 per post-consolidated share (the \"Debt Settlement\").Approval for the consolidation, among other matters, will be sought at the Company's annual and special general meeting scheduled to be held on February 18, 2025. The Company plans to immediately adjourn the meeting for an additional seven days, to February 25, 2025, to ensure that shareholders have additional time to receive the meeting materials and submit proxiesThe consolidation and the Debt Settlement remain subject to the receipt of all necessary shareholder and TSX Venture Exchange approvals, as the case may be. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance.About Comprehensive Healthcare Systems Inc.Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company's state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration(HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.FORWARD-LOOKING INFORMATION:The press release contains \"forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: \"anticipate\", \"intend\", \"plan\", \"budget...