Business
Vitalhub Corp. Announces Revised Pricing for Private Placement Offering and Update on First Two Acquisitions
Toronto, Ontario--(Newsfile Corp. - June 12, 2017) - VITALHUB CORP. (TSXV: VHI) (the "Company"...
About this update from Vitalhub Corp.
[{"type":"text","content":"Vitalhub Corp. Announces Revised Pricing for Private Placement Offering and Update on First Two AcquisitionsToronto, Ontario--(Newsfile Corp. - June 12, 2017) - VITALHUB CORP. (TSXV: VHI) (the \"Company\" or \"Vitalhub\"), has agreed to revised pricing for its previously announced financing (the \"Offering\") conducted through a syndicate of agents (the \"Agents\") co-led by Echelon Wealth Partners Inc. (\"Echelon\") and Paradigm Capital Inc. (\"Paradigm\") and including Canaccord Genuity Corp., Industrial Alliance Securities Inc. and Mackie Research Capital Corporation.The Company is pleased to announce that Valsef Capital, a private investment company, as well as institutional investors, have committed to an investment in the Offering and Chief Strategist of Valsef Capital, Mohan Plakkot, has agreed to join the Company's board of directors.Commenting on the commitment from Valsef Capital and the proposed appointment of Mr. Plakkot as a director of the Company, Dan Matlow, Chief Executive Officer of the Company stated \"by joining Vitalhub's board of directors, Mohan, as a representative of Valsef Capital, is bringing experience in mergers and acquisitions within the software and internet industries. He and Valsef Capital will be of tremendous value as we move forward with our acquisition strategies.\" It is expected that Mr. Plakkot will be appointed to the Company's board of directors subsequent to the successful closing of the Offering and receipt of applicable regulatory approvals (including approval of the TSX Venture Exchange (\"TSXV\").Revised Pricing for the Private PlacementSubject to adjustment in accordance with the Consolidation (as further described and defined below), the Company will now offer up to 50,000,000 units of Vitalhub (\"Units\"), at $0.10 per Unit (the \"Offering Price\"), for gross proceeds of a minimum of $2,800,000 and a maximum of $5,000,000. Each Unit shall consist of one common share of the Company (\"Common Share\") and one Common Share purchase warrant (the \"Warrants\"). Each whole Warrant will entitle the holder to purchase one Common Share for a period of twenty-four (24) months from the date of issuance at a price of $0.18 (the \"Exercise Price\") per Common Share. The Warrants will be converted automatically by the Company if, at any time after the four month statutory hold period expires,...