/NOT FOR DISTRIBUTION TO THE
Each Unit will consist of one common share (a "Common Share") and one-half of one Common Share purchase warrant (each full warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of
The Agent will have an option to offer for sale up to an additional 15% of the Units sold pursuant to the Offering on the same terms as the Offering for market stabilization purposes and to cover overallotments, exercisable in whole or in part within 30 days of the date of closing of the Offering (the "Over-Allotment Option"), for additional gross proceeds of up to
In connection with the Offering, the Agent will receive consideration comprised of: (i) a cash fee equal to 8% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option; (ii) such number of share purchase warrants (the "Agent's Warrants") as is equal to 8% of the number of Units sold in the Offering (including any additional Units issued upon the Agent's exercise of the Over-Allotment Option) exercisable to purchase one Common Share at an exercise price of
The Company will use the net proceeds of the Offering for sales, marketing, research and development, working capital and general corporate purposes.
The Offering will be completed by way of a prospectus supplement to the short form base shelf prospectus of the Company dated
Closing of the Offering is subject to a number of conditions, including without limitation, the execution of an agency agreement and receipt of all regulatory approvals. The Offering is expected to close on or about
A copy of the Base Shelf Prospectus and the Prospectus Supplement will be available on SEDAR at www.sedar.com.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in
About HealthSpace
HealthSpace is an industry leading software as a service company serving the state, provincial and local government market across
Forward-Looking Information
This news release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to the Offering and the use of proceeds therefrom. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement and the "Cautionary Statement regarding Forward-Looking Information" section contained in the Base Shelf Prospectus. All forward-looking statements in this news release are made as of the date of this news release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions, including the Base Shelf Prospectus and the Prospectus Supplement. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE
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