Business
WELL Health Announces Closing of $23M Private Placement with Group of Investors Led by Mr. Li Ka-shing
WELL Health Announces Closing of $23M Private Placement with Group of Investors Led by Mr...
About this update from Well Health Technologies Corp.
[{"type":"text","content":"WELLHealth-Offering\n \n \n \n WELL Health Announces Closing of $23M Private Placement with Group of Investors Led by Mr. Li Ka-shing\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Sept. 30, 2020\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n VANCOUVER, BC\n \n ,\n \n Sept. 30, 2020\n \n /CNW/ -\n \n WELL Health Technologies Corp.\n \n (TSX: WELL) (the \"\n \n Company\n \n \" or \"\n \n WELL\n \n \"), a company focused on consolidating and modernizing clinical and digital assets within the primary healthcare sector, is pleased to announce that it has closed its non-brokered private placement (the \"\n \n Offering\n \n \") of 4,821,803 common shares (each, a \"\n \n Share\n \n \") in the capital of the Company, at a price per share of\n \n $4.77\n \n , for aggregate gross proceeds of\n \n $23,000,000\n \n , as previously announced in the Company's news release dated\n \n September 1, 2020\n \n .  The subscribers to the Offering were a group of investors led by\n \n Hong Kong\n \n business leader Mr.\n \n Li Ka\n \n -shing.\n \n \n \n \n \n \n \n \n \n The net proceeds of the Offering are expected to be primarily used to fund and support the proposed acquisition of a majority of the issued and outstanding shares of Circle Medical Technologies, Inc. (\"\n \n Circle Medical\n \n \") as well as general working capital.  Circle Medical is a US technology leader and innovator in the delivery of quality telehealth and in-person healthcare experiences.\n \n \n \"We sincerely appreciate the continued support of Mr.\n \n Li Ka\n \n -shing and other investors that participated in this round,\" said\n \n Hamed Shahbazi\n \n , Founder and CEO of WELL Health Technologies. \"These funds will go to great use in not only acquiring a majority stake in Circle Medical but also helping fund a compelling pipeline of other highly accretive acquisitions that further WELL's efforts to empower doctors and patients with ...