/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
VANCOUVER, July 29, 2019
/CNW/ - WELL Health Technologies Corp. (TSX-V: WELL) ("WELL" or the
"Company") is pleased to announce that it has amended the terms of
its previously announced bought deal of approximately $12.0 million with an increase to 9,000,000
special warrants of the Company (the "Special Warrants") at a price
per Special Warrant of $1.45 for
aggregate gross proceeds of approximately $13.0 million (the "Offering"). The Underwriters
will also have the option, exercisable up to two business days
prior to the closing date of the Offering, to arrange for the
purchase of up to an additional 1,350,000 special warrants at the
Offering Price for additional gross proceeds of approximately
$2.0 million. In the event that the
option is exercised in its entirety, the aggregate gross proceeds
would increase to approximately $15.0
million.
The Offering is being underwritten by GMP Securities L.P. (the
"Lead Underwriter" and, collectively with the syndicate, the
"Underwriters").
The Offering is also expected to include subscriptions of
$500,000 from Sir Li Ka-shing, and $380,000 from management of the Company which
includes participation from CEO, CFO and, the SVP of Strategic
Partnerships & Marketing.
The terms of the financing and use of proceeds remain as
previously disclosed in all other respects.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL
WELL is a unique company that operates Primary Healthcare
Facilities as well as a significant EMR or Electronic Medical
Records business that supports the digitization of such
clinics. WELL's overarching objective is to empower doctors
to provide the best and most advanced care possible leveraging the
latest trends in digital health. In the last 12 months, WELL
physicians served approximately 600,000 patient visits through its
network of 19 medical clinics. WELL is publicly traded on the
TSX Venture Exchange under the symbol WELL.V. WELL was
recognized as a TSX Venture 50 Company in 2018 and 2019.
Notice Regarding Forward Looking Statements
Certain statements in this news release related to the Company
are forward-looking statements and are prospective in nature.
Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as "may", "should", "could", "intend",
"estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-looking statements in this news release include statements
regarding the closing of the Offering, the intended use of proceeds
of the Offering and meeting the Qualification Condition. There are
numerous risks and uncertainties that could cause actual results
and WELL's plans and objectives to differ materially from those
expressed in the forward-looking information, including: (i)
adverse market conditions; (ii) risks inherent in the primary
healthcare sector in general; (iii) that the proceeds of the
Offering may need to be used for purposes other than as set out in
this news release and other factors beyond the control of the
Company. Actual results and future events could differ materially
from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based
on estimates and opinions of management on the dates they are made
and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Neither the 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.
SOURCE WELL Health Technologies Corp.
