VitalHub Announces Exercise of Warrants Led by Institutional Investors
September 16 2019 - 7:30AM
VitalHub Corp. (the “Company”) (TSXV: VHI) is pleased to announce
the exercise of warrants for net proceeds of $983,700.
The Company announced today the exercise of 5,465,000 warrants,
with each such warrant being exercisable for one common share of
the Company at an exercise price of $0.18, for net proceeds of
$983,700. Post-exercise of the warrants, total VitalHub shares
outstanding are 165,362,659.
The warrant exercise was primarily led by institutions,
demonstrating the support of the VitalHub’s shareholders,
recognizing vision and long-term value the Company is creating.
Recent Q2 results are an indication of this positive growth, having
reported Adjusted EBITDA for the six months ended June 30, 2019 of
$1,209,290, representing 23% of revenues; and ending the quarter
with $4,860,083 cash on hand.
“It is great to see such strong support for the Company from our
investors, especially as our stock is trading relatively close to
the value of the warrants,” said Dan Matlow, CEO of VitalHub Corp.
“Our investors continue to believe in the strategy of the Company,
and recognize our strong track record of execution.”
The Company intends to use proceeds from the warrant exercised
to advance its strategy, including but not limited to use toward
future acquisitions and accretive investments.
ABOUT VITALHUB:
VitalHub develops mission-critical technology
solutions for Health and Human Services providers in
the Mental Health (Child through Adult), Long Term
Care, Community Health Service, Home Health, Social Service
and Acute Care sectors. VitalHub technologies
include Blockchain, Mobile, Patient Flow, Web-Based
Assessment and Electronic Health Record solutions. 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 200+ clients across
North America. 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”.
CAUTIONARY STATEMENT:
This press release includes forward-looking statements regarding
the Corporation and its business, which may include, but is not
limited to, statements with respect to the appointment of a new
directors. 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. The forward-looking events and circumstances
discussed in this release, including the share consolidation
proposal, may not occur by certain specified dates or at all and
could differ materially as a result of known and unknown risk
factors and uncertainties affecting the companies, including risks
regarding the technology industry, failure to obtain regulatory or
shareholder approvals, market conditions, economic factors, the
equity markets generally and risks associated with growth and
competition. Although the Corporation 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 Corporation undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events, or otherwise.
CONTACT INFORMATION
Dan MatlowChief Executive Officer, Director(416)
727-9061dan.matlow@vitalhub.com
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