CALGARY, AB, Dec. 2, 2021 /CNW/ - Comprehensive Healthcare
Systems Inc. (TSXV: CHS) (the "Company" or "CHS")
announces that subject to the approval of the TSX Venture Exchange
(the "TSX-V"), it has engaged the services of Independent
Trading Group (ITG), Inc., ("ITG") to provide services as a
market maker in accordance with the policies of the TSX-V. ITG will
trade common shares in the capital of CHS (the "CHS Shares")
on the TSX-V with the primary objective of maintaining an orderly
market and to provide liquidity of CHS Shares. CHS's market making
activity will seek to correct temporary imbalances in the supply
and demand of the CHS Shares.
Pursuant to the Services Agreement entered into between CHS and
ITG (the "Agreement"), CHS shall pay ITG a fee
of C$5,000, per month. The Agreement between the
Company and ITG is for an initial term of 3 months and shall be
automatically renewed for subsequent one-month periods
(collectively, the "Term"), unless the Company provides
written notice of termination to ITG at least 30 days prior to the
end of the Term or ITG provides a written notice of termination to
the Company. There are no performance factors contained in the
Agreement. Additionally, ITG will not receive CHS Shares, options,
or any other form of equity-based compensation as payment. ITG will
be responsible for the costs it incurs in buying and selling the
CHS Shares, and no third party will be providing funds or
securities for the market making activities.
ITG is an arm's length party to the Company. Neither ITG nor its
affiliates or associates have any interest directly or indirectly
in the Company or its securities, or any right or intent to acquire
such an interest.
About ITG
Independent Trading Group (ITG) is Canada's only brokerage firm dedicated
exclusively to professional trading. As Canada's foremost market making firm,
Independent Trading Group provides liquidity services to issuers,
focused on results and founded on integrity. Independent Trading
Group is a member of the Investment Industry Regulatory
Organization of Canada (IIROC),
Canadian Investor Protection Fund (CIPF), Toronto Stock Exchange
and the Canadian Securities Exchange.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation
incorporated under the laws of the Province of Alberta and is the parent company of
Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically
integrated software as a services (SaaS) company focused on
digitizing healthcare with Telehealth and Healthcare Benefits
Administration solutions, providing reliable and high-volume
transaction capable systems. The Company's state of the art HPS
Novus Healthcare Welfare and Benefits Administration (HWBA) SaaS
platform is used by clients for all aspects of healthcare benefit
administration (including insurance companies, hospitals, doctors
and labor unions, through various corporation in which the majority
shareholder has controlling ownership), providing healthcare
administrative software, licensing and maintenance services.
Forward-Looking Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. The Company cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Company's control. Such factors include,
among other things: the market making activities of CHS Shares by
ITG and the approval of the TSX-V of the Agreement. Accordingly,
actual and future events, conditions and results may differ
materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as
required under applicable securities legislation, CHS undertakes no
obligation to publicly update or revise forward-looking
information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Comprehensive Healthcare Systems Inc.
