Business
Quinsam Opportunities I Inc. and Vitalhub Corp. Announce Signing of Definitive Agreement, Receipt of TSXV Conditional Approval, and Filing of Filing Statement
TORONTO, ON / ACCESSWIRE / November 11, 2016 / Quinsam Opportunities I Inc. (TSXV: QOP.P) ("...
About this update from Vitalhub Corp.
[{"type":"text","content":"Quinsam Opportunities I Inc. and Vitalhub Corp. Announce Signing of Definitive Agreement, Receipt of TSXV Conditional Approval, and Filing of Filing StatementTORONTO, ON / ACCESSWIRE / November 11, 2016 / Quinsam Opportunities I Inc. (TSXV: QOP.P) (\"QOP\") and Vitalhub Corp. (\"Vitalhub\"), are pleased to announce that they have received conditional approval from the TSX Venture Exchange (the \"Exchange\") for their Qualifying Transaction (as such term is defined in Policy 2.4 of the Corporate Finance Manual of the Exchange) previously announced on July 4, 2016 and as updated by press release dated September 8, 2016 (the \"Qualifying Transaction\"). As previously disclosed, QOP will complete its Qualifying Transaction by completing a share exchange with Vitalhub whereby QOP will acquire all of the issued and outstanding common shares of Vitalhub by issuing an aggregate of between 20,424,035 and 32,969,473 QOP common shares in exchange for each common share of Vitalhub issued and outstanding (including those Vitalhub common shares issuable pursuant to the brokered private placement announced by press release on September 8, 2016 (the \"Offering\"), and the non-brokered private placement of Vitalhub announced on July 4, 2016), at a deemed issuance price of $0.11 per share. In addition, each convertible, exchangeable, or exercisable security of Vitalhub shall be exchanged for a convertible, exchangeable or exercisable security, as applicable, for QOP on substantially the same economic terms and conditions as the original convertible, exchangeable, or exercisable security of Vitalhub resulting in the issuance of between 3,272,723 and 9,545,442 warrants in respect of outstanding Vitalhub warrants (including warrants issued pursuant to the Offering), 957,741 options in respect of certain outstanding warrants of Vitalhub, and between 340,909 and 681,818 broker compensation warrants in respect of the Offering. \nFiling Statement\nQOP filed its filing statement dated November 11, 2016 (the \"Filing Statement\"), which provides further details with respect to the Qualifying Transaction under QOP's profile on SEDAR at www.sedar.com. \nDefinitive Agreement \nQOP entered into its definitive agreement with Vitalhub and 2514987 Ontario Inc. (the controlling shareholder of Vitalhub) dated November 11, 2016 (the \"Definitive Agreement\"). The D...