VitalHub Corp. Announces Proceeds of $3 Million from Exercise of Warrants since January 1, 2021
TORONTO, Jan. 20, 2021 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce that since January 1, 2021, it has received proceeds of $2,990,625 million as a result of the exercise of 1,031,250 previously issued common share purchase warrants. The Company intends to use the proceeds of the warrant exercises for general working capital purposes.
The warrants were issued in connection with the Company’s non-brokered private placement completed on January 18, 2019 and led by the former founders and management team of Aastra, being Francis Shen, board member, Tony Shen, Allen Brett, and John Tobia. Warrants were issued with exercise prices of $0.29, with a two-year expiry, and $0.39, with a three-year expiry. As of the expiry date, 100% of the warrants had been exercised. For further information on the non-brokered private placement please refer to the Company’s press release of January 18, 2019.
“Two years ago we started working with Francis, Tony, Alan and John and they have provided great input as industry experts on an ongoing basis in respect to our M and A strategy. The exercising of the warrants is further validation of our strategy and we look forward to their continued input as we progress forward”, said Dan Matlow, CEO of VitalHub.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT VITALHUB CORP.
Software for Health and Human Services providers designed to simplify the user experience & optimize outcomes. VitalHub provides technology to Health and Human Services providers including; Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination, Patient Flow & Operational Visibility, and DOCit Mobile Apps.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 275+ clients across Canada, USA, UK, Australia, Qatar, and Latvia. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol “VHI”.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release may constitute “forward-looking information” or “financial outlook” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.