TIDMCHT

RNS Number : 6667E

Constellation Healthcare Tech, Inc

20 July 2016

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

20 July 2016

Constellation Healthcare Technologies, Inc.

("Constellation", "CHT" or "the Group")

Repayment of Debt Facility

Constellation Healthcare Technologies, Inc., the US based healthcare services company, announces that it has settled in full its outstanding principal, interest, additional fees and applicable warrants in relation to the Line of Credit facility and Term Loan with its secured lender. The balance of the secured debt facility as at December 31, 2015 was $14,922,349.

Constellation still has approximately $10M of surplus funds available from the most recent equity raise post the acquisition announced earlier this year. These funds are earmarked for future acquisitions and the Company is evaluating a number of acquisition opportunities and will update the market in due course.

Paul Parmar, Chief Executive Officer of Constellation Healthcare Technologies, commented, "Constellation is now debt free as a result of using surplus funds from day to day operations to repay the facility. None of the cash on hand from the most recent equity raise was used to repay debt. Going forward, Constellation will be able to deploy the maximum amount of surplus funds available for strategic and operational initiatives."

Enquiries:

 
Constellation Healthcare Technologies      c/o Redleaf Communications 
 Paul Parmar, Chief Executive                     +44 (0)20 7382 4730 
 Officer 
finnCap - Nominated Adviser 
 and Joint Broker 
 Julian Blunt / Scott Mathieson                   +44 (0)20 7220 0500 
Stifel - Joint Broker 
 Jonathan Senior / Ben Maddison                   +44 (0)20 7710 7600 
 
  Redleaf Communications - PR                     +44 (0)20 7382 4730 
  adviser                                 constellation@redleafpr.com 
  Charlie Geller / Sam Modlin

This information is provided by RNS

The company news service from the London Stock Exchange

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