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Greenstone Capital RTO Target Announces Completion of Subscription Receipt Financing
Calgary, Alberta--(Newsfile Corp. - May 10, 2021) - Greenstone Capital Corp. (TSXV: GSGS.P) (t...
About this update from Comprehensive Healthcare Systems Inc
[{"type":"text","content":"Greenstone Capital RTO Target Announces Completion of Subscription Receipt FinancingCalgary, Alberta--(Newsfile Corp. - May 10, 2021) - Greenstone Capital Corp. (TSXV: GSGS.P) (the \"Company\" or \"Greenstone\"), a capital pool company (\"CPC\") pursuant to Policy 2.4 (the \"CPC Policy\") of the TSX Venture Exchange (the \"Exchange\"), is pleased to announce that further to its announcement on February 24, 2021, Comprehensive Healthcare Systems Inc. (\"CHS\") has closed a private placement of subscription receipts (the \"Subscription Receipts\") for aggregate gross proceeds of approximately $4.5 million (the \"Subscription Receipt Financing\"). In connection with the Subscription Receipt Financing, CHS entered into an agency agreement with a syndicate of agents led by Richardson Wealth Limited (\"Richardson Wealth\") and including Mackie Research Capital Corp., Echelon Wealth Partners Inc., INFOR Financial Inc. and Eventus Capital Corp. (collectively, the \"Agents\") to sell Subscription Receipts at a price of $0.45 per Subscription Receipt (the \"Brokered Placement\"). A total of 7,082,499 Subscription receipts were placed in the Brokered Placement. In addition, CHS completed a non-brokered financing of 2,894,450 Subscription Receipts at a price of $0.45 per Subscription Receipt (the \"Non-Brokered Placement\"). Florence Wealth Management Inc. acted as a finder on the Non-Brokered Private Placement.The Subscription Receipt Financing was undertaken in connection with the previously announced statutory merger between CHS and Greenstone Capital USA Inc., a wholly-owned subsidiary of the Company (the \"Proposed Transaction\"). The Proposed Transaction is intended to constitute the Company's \"Qualifying Transaction\" (as such term is defined in the CPC Policy).Upon the closing of the Proposed Transaction, the Subscription Receipt Units issued upon the conversion of the Subscription Receipts will be automatically exchanged for one common share (a \"Resulting Issuer Share\") in the capital of the Resulting Issuer (as defined in the CPC Policy) and one-half of one Resulting Issuer Share purchase warrant (each whole Resulting Issuer Share purchase warrant, a \"Resulting Issuer Warrant\"). Each Resulting Issuer Warrant will entitle the holder to acquire one (1) additional Resulting Issuer Share at a price of $0.75 for a period of two ye...