Medivolve Announces Private Placement Financing of up to $4 Million
20 January 2023 - 11:00AM
Medivolve Inc. (“Medivolve” or the “Company”)
(NEO:MEDV; FRA:4NC) is pleased to announce a non-brokered private
placement offering of common shares (“Common Shares”) at a price of
$0.15 per Common Share for aggregate gross proceeds of up to $4
million (the “Offering”).
All securities issued in connection with the
Offering will be subject to a statutory hold period of four-months
and one day. Completion of the Offering is subject to a number of
conditions, including final approval of the Neo Stock Exchange.
The Company intends to use the net proceeds of
the Offering to advance Medivolve’s business, marketing, repayment
of outstanding debt and payables and for general corporate
purposes. The Offering is expected to close on or about January 31,
2023 and may close in tranches.
No finder fees are anticipated to be paid as
part of the Offering.
About Medivolve, Inc.
Medivolve, Inc. (NEO: MEDV; OTC:
MEDVF; FRA: 4NC) is a healthcare technology company that seeks to
reinvent the US healthcare system by leveraging a bespoke
telehealth platform, a clinical diagnostic network, and a
data-driven AI framework to improve patient care.
The Company was born out of the healthcare
crisis; to rethink, relearn and ultimately, reimagine a better way
for the healthcare system to operate. Our network of retail
collection sites play an important role in recovery by giving
Americans access to fast, accurate, and inexpensive clinical
services when and where they need it. These centers will also play
a pivotal role in diagnostic testing, vaccinations, and other
point-of-care services. We are building disruptive technologies to
make it easier and faster to identify, treat, and prevent medical
issues. In doing so, we are working to give patients a holistic and
empowered view of their personal health.
Our long-term mission is to address systemic
issues in the nation’s fragmented, overly complex, and expensive
healthcare system. Medivolve’s next phase of growth is about
pivoting the model and putting the pieces together to build a
profitable health-tech company. We are developing a singular,
streamlined technology network to provide data-driven physician
consultations, clinical diagnostics, and prescription services. Our
team is united by a powerful, singular purpose: harnessing the
transformative power of technology to create healthier lives.
Underpinned by a bespoke, AI-driven platform,
we’re developing a system that constantly gets smarter, takes the
guesswork out of diagnostics, and flags critical health issues to
help physicians, delivering a high level of personalization for
each patient.
For investing inquiries, please
contact: David Preiner, CEO, info@medivolve.ca,
702-990-3737.
Cautionary Note Regarding
Forward-looking Information
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the Offering, and in
particular the expected use of proceeds of the Offering, and the
Company’s future plans. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or 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". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company, as the case may be, to be materially different from
those expressed or implied by such forward-looking information,
including but not limited to: general business, economic,
competitive, political and social uncertainties; accidents, labour
disputes and shortages and other risks of the healthcare industry.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. The securities offered in the Offering and
in any subsequent conversions have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
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