CALGARY, AB / ACCESSWIRE / March 6, 2019 / Prevent Health Care International Corp. (the "Corporation" or "Prevent") today announced that it is has completed the sale of 8,810,000 units of the Corporation ("Units") at a price of $0.25 per Unit for aggregate gross proceeds of $2,202,500. Each Unit consists of one common share in the capital of the Corporation ("Common Share") and one-half of one share purchase warrant, with each whole warrant ("Warrant") entitling the holder thereof to purchase an additional Common Share at an exercise price of $0.40 per share for a period of two years from the date of its issuance.
The Corporation issued finders fees of an aggregate of $218,750 and 875,000 finders' warrants ("Finder's Warrants") to persons who introduced the Corporation to subscribers who purchased Units under the Offering. Each Finder's Warrant entitles the holder thereof to purchase a Common Share at an exercise price of $0.40 for a period of one year.
All of the Common Shares, Warrants and Finder's Warrants are subject to a four month hold period.
Prevent is a Canadian based healthcare management company established to provide a business model based on key innovations that intends to provide a decisive advantage over the competitors with products and businesses for physicians, cardiologists and providers in healthcare markets worldwide. Prevent is the owner, through its wholly-owned subsidiary My-Cardia (USA) Inc., of a proprietary U.S. Food and Drug Administration 510(k) approved and "CE" certified cardiac monitoring device, the "my-CAM" event recorder, and software system platform, the "my-CARDIA" software and monitoring service (collectively the "my-CARDIA service"). Its initial strategy is focused on developing the cardiovascular health monitoring business in the second largest US market through its wholly-owned subsidiary, My-Cardia (USA) Inc. based in Palm Desert, California. To provide near term future growth and expansion, Prevent is also entering the world's largest cardiac healthcare market in China, and the Asia Pacific through its subsidiaries in China and Hong Kong, to provide the proprietary my-CARDIA service upon receiving regulatory approvals in those countries.
FOR FURTHER INFORMATION, PLEASE CONTACT:
President and Chief Executive Officer
eMail: [email protected]
SOURCE: Prevent Health Care International Corp.