/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, Oct. 7, 2019 /CNW/ - WELL Health
Technologies Corp. (TSX.V: WELL) ("WELL" or the
"Company"), a company focused on consolidating and
modernizing clinical and digital assets within the primary
healthcare sector, is pleased to announce that, further to its news
release dated August 15, 2019, on
October 4, 2019, the Company received
a receipt (the "Final Receipt") for its final short form
prospectus dated October 4, 2019 (the
"Prospectus"). The Prospectus qualifies the distribution of
an aggregate of 10,350,000 common shares of the Company (the
"Shares"), which are issuable for no additional
consideration upon the exercise or deemed exercise of 10,350,000
special warrants (the "Special Warrants") sold in an
underwritten private placement offering completed by the Company on
August 15, 2019 (the
"Offering"). The Special Warrants were sold at a price of
$1.45 per Special Warrant for
aggregate gross proceeds of $15,007,500.
Pursuant to a special warrant indenture dated August 15, 2019 between the Company and
Computershare Trust Company of Canada, the Special Warrants will be
automatically exercised into Shares, without payment of any
additional consideration, on the fifth business day after the date
on which the Final Receipt is received by the Company. As the Final
Receipt was received by the Company on October 4, 2019, the Company expects that the
deemed exercise of the Special Warrants will occur on October 11, 2019.
For more information on the Offering, please refer to the
Prospectus, as well as the Company's news release dated
August 15, 2019, available on the
Company's profile on SEDAR at www.sedar.com.
US Disclaimer
This new release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
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 a U.S. person (as defined in Regulation S
under the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
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 wholly owns and operates 19 medical clinics and provides
digital Electronic Medical Records (EMR) software and services to
852 medical clinics across Canada.
WELL's overarching objective is to empower doctors to provide the
best and most advanced care possible leveraging the latest trends
in digital health. 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.
Forward-Looking Statements
This news release may contain "forward-looking statements"
within the meaning of applicable Canadian securities laws,
including, without limitation, the expectation that the Special
Warrants will automatically be exercised on October 11, 2019. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties,
and contingencies. These statements generally can be identified by
the use of forward-looking words such as "may", "should", "will",
"could", "intend", "estimate", "plan", "anticipate", "expect",
"believe" or "continue", or the negative thereof or similar
variations. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause future
results, performance or achievements to be materially different
from the estimated future results, performance or achievements
expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future
performance. WELL's statements expressed or implied by these
forward-looking statements are subject to a number of risks,
uncertainties, and conditions, many of which are outside of WELL 's
control, and undue reliance should not be placed on such
statements. Forward-looking statements are qualified in their
entirety by the inherent risks and uncertainties surrounding the
Transaction, including: that WELL's assumptions in making
forward-looking statements may prove to be incorrect; adverse
market conditions; risks inherent in the primary healthcare sector
in general; that future results may vary from historical results;
and that market competition may affect the outcome of the business,
results and financial condition of WELL. Except as required by
securities law, WELL does not assume any obligation to update or
revise any forward-looking statements, whether as a result of new
information, events or otherwise.
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.