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VANCOUVER, BC, Jan. 31, 2022 /CNW/ - HealthSpace Data Systems Ltd. ("HealthSpace", or the "Company") (CSE: HS) (Frankfurt: 38H) (OTC: HDSLF) is pleased to announce the filing of a prospectus supplement (the "Prospectus Supplement") to the Company's base shelf prospectus dated September 14, 2021 (the "Base Shelf Prospectus") with respect to the Company's overnight marketed public offering (the "Offering") of units of the Company (the "Units"), on terms previously announced in the Company's news release dated January 26, 2022 and filed on SEDAR. The Offering will be conducted on a commercially reasonable agency basis for the issuance of up to 6,666,700 Units at a price of $0.60 per Unit for aggregate gross proceeds of up to $4,000,020. Echelon Wealth Partners Inc. is acting as sole agent and bookrunner for the Offering. Please see the Company's news release dated January 26, 2022 for further details regarding the Offering.
The Company is also pleased to announce that it will be proceeding with a concurrent non-brokered private placement (the "Concurrent Private Placement") of approximately 833,333 Units on the same terms as the Offering for estimated proceeds of approximately $500,000. The Concurrent Private Placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approval. All securities issued in connection with the Concurrent Private Placement will be 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 and Concurrent Private Placement for sales, marketing, research and development, working capital and general corporate purposes. Both the Offering and Concurrent Private Placement are expected to close on or about February 4, 2022.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under 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 any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. "United States" and "U.S. Person" are as defined in Regulation S under the U.S. Securities Act.
About HealthSpace
HealthSpace is an industry leading software as a service company serving the state, provincial and local government market across the United States and Canada. HealthSpace's cutting edge platforms currently provide inspection, information, communication and data management systems that enable government agencies to operate more efficiently. HealthSpace's cloud and mobile based platforms are currently deployed in over 600 state and local government organizations across North America. HealthSpace currently offers the only fully integrated inspection, administration and analytics product suite across all platforms in North America. HealthSpace also delivers its government grade technologies to private businesses through its My Health Department platform, enabling citizens and private businesses to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. As HealthSpace continues to deliver focused service and innovative solutions to government organizations, the Company entered the FinTech space through its HSPay offering which serves as a payment platform that streamlines the intake of government revenue. Further, HealthSpace's GovCall platform offers one of the only teleconferencing and video collaboration platforms tailored exclusively for government agencies.
Forward-Looking Information
This news release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to the closing of the Offering and Concurrent Private Placement and the use of proceeds therefrom. All forward-looking statements in this news release are made as of the date of this news release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions, including the Base Shelf Prospectus and the Prospectus Supplement. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE HealthSpace Data
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