Post by
freedom45 on Feb 15, 2022 4:51pm
News
HealthSpace offering agent Echelon exercises greenshoe 2022-02-15 16:16 ET - News Release Mr. Silas Garrison reports HEALTHSPACE DATA SYSTEMS LTD. ANNOUNCES EXERCISE AND CLOSING OF OVER-ALLOTMENT OPTION AND SECOND AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT Further to the overnight marketed public offering of 6,666,700 units of HealthSpace Data Systems Ltd., which closed on Feb. 4, 2022, Echelon Wealth Partners Inc. has exercised its overallotment option in full to purchase an additional 1,000,004 units at a price of 60 cents for gross proceeds of approximately $600,003. Including those issued pursuant to the Over-Allotment Option, a total of 7,666,704 Units were issued under the Offering for aggregate gross proceeds of approximately $4,600,022. Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire, subject to adjustment in certain circumstances, one Common Share at an exercise price of $0.90 for a period of 24 months from the date of issuance. The Warrants are listed for trading on the Canadian Securities Exchange under the symbol HS.WT. In connection with the closing of the Over-Allotment Option, the Company issued the Agent (i) 80,000 compensation warrants, each of which is exercisable into one Common Share at an exercise price of $0.60 for a period of 24 months from the date of issuance, and (ii) 30,000 Common Shares as a corporate finance fee. The Units were offered and sold pursuant to Company's prospectus supplement dated January 28, 2022 (the "Prospectus Supplement"), to the Company's base shelf prospectus dated September 14, 2021 (the "Base Shelf Prospectus"). Copies of the Prospectus Supplement and accompanying Base Shelf Prospectus can be obtained on SEDAR at www.sedar.com. The Company is also pleased to announce that it has closed the second and final tranche of its non-brokered private placement on the same terms as the Offering (the "Concurrent Private Placement"). The Company completed the second tranche of the Concurrent Private Placement by distributing 269,916 Units for gross proceeds of $161,949.60. Together with the first tranche of the Concurrent Private Placement, the Company issued an aggregate of 1,131,349 Units for aggregate gross proceeds of $678,809.40. All securities issued in connection with the Concurrent Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws. The Company will use the net proceeds of the Offering (including the Over-Allotment Option) and Concurrent Private Placement for sales, marketing, research and development, working capital and general corporate purposes.