/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Dec. 17,
2024 /CNW/ - VitalHub Corp. (TSX: VHI) (OTCQX:
VHIBF) (the "Company" or "VitalHub") is pleased to announce that it
has entered into an agreement with Cormark Securities Inc. acting
as lead underwriter, on behalf of a syndicate of underwriters
(collectively, the "Underwriters") pursuant to which the
Underwriters have agreed to purchase 2,752,300 Common Shares (the
"Common Shares") from the treasury of the Company, at a price of
$10.90 per Common Share for total
gross proceeds of approximately $30.0
million (the "Offering").
In addition, the Company has granted the Underwriters an option
(the "Over-Allotment Option") to purchase up to an additional
412,845 Common Shares on the same terms exercisable at any time up
to 30 days following the closing of the Offering, for market
stabilization purposes and to cover over-allotments, if any.
The net proceeds of the Offering shall be used for growth
initiatives including future acquisitions, working capital and
general corporate purposes.
Closing of the Offering is expected to occur on or about
January 9, 2025 and is subject to
regulatory approval including that of the Toronto Stock Exchange
(the "TSX").
The Common Shares to be issued under the Offering will be
offered by way of a short form prospectus to be filed in each of
the Provinces of Canada, except
Quebec, and may be offered in
the United States on a private
placement basis pursuant to an exemption from the registration
requirements of the United States Securities Act of 1933, as
amended, and applicable state securities laws, and certain other
jurisdictions outside of Canada
and the United States.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release
does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
About VitalHub
VitalHub is a leading software company dedicated to empowering
health and human services providers globally. VitalHub's
comprehensive product suite includes electronic health records,
operational intelligence, and workforce automation solutions that
serve over 1,000 clients across the UK, Canada, and other geographies. The Company has
a robust two-pronged growth strategy, targeting organic
opportunities within its product suite and pursuing an aggressive
M&A plan. VitalHub is headquartered in Toronto with over 500 employees globally,
across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub
(TSX:VHI) (OTCQX:VHIBF), please visit www.vitalhub.com and connect
with us on LinkedIn.
Cautionary Statement
Certain statements contained in this news release including
statements relating to use of proceeds, closing of the offering and
receipt of all necessary regulatory approvals 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.
SOURCE VitalHub Corp.
