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Exelerate Capital Corp. (formerly Exelerate Health Inc.) Closes Additional Private Placement Equity Financing
Exelerate Capital Corp. (formerly Exelerate Health Inc.) Closes Additional Private Placeme...
About this update from Exelerate Capital Corp.
[{"type":"text","content":"\n\n\n\nExelerate Capital Corp. (formerly Exelerate Health Inc.) Closes Additional Private Placement Equity Financing\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\nVANCOUVER, Oct. 9, 2019\n\n\n\nTSX-V: XCAP\n VANCOUVER, Oct. 9, 2019 /CNW/ - EXELERATE CAPITAL CORP. (TSX-V: XCAP) (the \"Company\"), is pleased to announce that it has closed another non-brokered private placement, pursuant to which the Company raised gross proceeds of $499,905 through the issuance of 3,703,000 common shares (the \"Shares\") at a price of $0.135 per Share. \nIn connection with the private placement, the Company agreed to pay finders' fees totalling $5,000 in cash, to an unrelated agent, in lieu of expenses. \nThe net proceeds from the private placement will be used for due diligence and acquisition activities, and for general working capital. All issued Shares are subject to a statutory hold period under Canadian securities legislation expiring on February 10, 2020. \n\"I continue to be very pleased with the meaningful support we have received to date, from key strategic family offices and technology investors, as we continue to search for our Qualifying Transaction,\" said Mark W. Kohler, CEO of the Company. \"We're seeing significant potential value in focusing on acquiring healthcare technology businesses that support the building of a secure 'Information Supply Chain™' in the vast market called digital health; and the associated technologies that enable impactful and effective transitions of patients and data in that critical space from a hospital back to the home.\"\nAbout the Company\nThe Company is a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the \"CPC Policy\"). Except as specifically contemplated in the CPC Policy, until the completion of its \"Qualifying Transaction\" (as defined in the CPC Policy), the Company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed Qualifying Transaction. \nFor further information, please contact: \nNot fo...