HealthSpace Announces Closing of Second Tranche VANCOUVER, BC / TheNewswire / November 14, 2017 – HealthSpace Data Systems Ltd. (“HealthSpace”) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement of 15,150,000 units at a price of $0.05 per unit for gross proceeds of $757,500 (both tranches combined had gross proceeds of $850,000).
Each unit consists of one common share and one transferable share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share exercisable for a period of twenty-four months following the closing of the private placement at a price of CAD $0.05 per warrant share. The securities will be subject to a four month and one day hold period under securities laws.
Finder’s fees totaling $23,450 were paid on the financing and 469,000 broker warrants, at a price of $0.05 for a period of two years were issued.
The Company intends to use the net proceeds from the private placement for general working capital, to support marketing efforts for new commercial enterprise markets, such as restaurants, hospitality, hotels and cannabis production & distribution, product development including programing, testing and rollout, integrating and adapting the company’s existing technology to include a modular blockchain platform and implementing transactional level blockchain technology inside the company's existing mobile inspection platform.
Ali Hakimzadeh, Chairman, commented: “We are pleased to complete this oversubscribed financing. HealthSpace is well positioned for significant growth in the coming year. We are very excited to commence the expansion of our existing technology by integrating and adapting our product suite to include blockchain technologies which the company believes will significantly expand the current market opportunities.”