VitalHub Corp. announced that it has received CAD 3.3 million in funding
January 17, 2019
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VitalHub Corp. (TSXV:VHI) announced a non-brokered private placement of 20,625,000 units at a price of CAD 0.16 per unit for gross proceeds of CAD 3.3 million, on January 18, 2019. Each unit consists of one common share, one half of one common share purchase warrant exercisable at CAD 0.29 per share for two years from date of issuance, and one half of one common share purchase warrant exercisable at CAD 0.39 per share for three years from date of issuance. The transaction included participation from former founders and management team of Aastra Technologies Limited, new investors Connection 25 Inc. and TMWE Inc., and new individual investors Allan Brett and John Tobia. All the securities issued in the transaction are subject to a hold period of four months expiring on May 20, 2019. As a part of the transaction, Connection 25 Inc. purchased 12,812,500 units and now holds 8.27% of the total common shares of the company (undiluted), and 15.28% of the company (fully-diluted), and TMWE Inc. purchased 6,250,000 units and now holds 4.03% of the total common shares of the company (undiluted), and 7.76% of the company (fully-diluted). As a part of the transaction, Francis Shen from Connection 25 Inc. will join the company's board of directors. The company has also agreed to an additional board nominee for Francis Shen should all of the two-year warrants be exercised in full. TSX accepted he filing of the document in relation to the transaction.
VitalHub Corp. is a Canada-based software company. The Company offers software for health and human service providers designed to simplify the user experience and optimize outcomes. It offers a comprehensive suite of software-as-a-service (SaaS) solutions, which include electronic health record (EHR), case management, care coordination, and optimization; patient flow, operational visibility, and patient journey optimization, and workforce automation. Its solutions include Alamac, Beautiful Information, Hicom, Intouch with Health, MCAP, Oculys, SHREWD, Synopsis, B Care, CaseWORKS, Pirouette, S12 Solutions and TREAT. Its clients include hospitals, regional health authorities, mental health and addictions services providers for children and adults, long-term care facilities, home health agencies, correctional services, and community and social services providers. It serves clients across Canada, the United States, the United Kingdom, Australia, the Middle East, and Europe.