CALGARY, AB, May 27, 2022 /CNW/ - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the "Company" or "CHS"), is pleased to announce that it has received conditional TSX Venture Exchange (the "TSXV") approval to issue common shares of the Company to Lion Park Capital ("Lion Park Capital") for services rendered pursuant to a corporate services agreement between the Company and Lion Park (the "Corporate Services Agreement"). Lion Park is a Non-Arms Length Party (as defined in the TSXV Policy 1.1 - Interpretation) to the Company. Mohammad Fazil, a director of the Company, is the president, founder and sole owner of Lion Park. Lion Park provided certain services including but not limited to administrative, accounting and marketing services (the "Services") to the Company in connection with the reverse takeover transaction that closed on September 29, 2021 between the Company (formerly, Greenstone Capital Corp.), Comprehensive Healthcare Systems Inc., and Greenstone Capital USA Inc (the "Reverse Takeover Transaction").
The Company will issue 1,200,000 common shares for the Services provided pursuant to the Corporate Services Agreement at a deemed price of $0.15. The share issuance to Lion Park received disinterested shareholder approval on May 2, 2022. The common share issuance was previously disclosed in the Company's Filing Statement regarding the Reverse Takeover Transaction dated September 28, 2021, a copy of which is available on the Company's SEDAR profile. The issuance of the common shares for the Services provided does not result in the dilution or change in shares currently issued and outstanding of the Company.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Telehealth and Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company's state of the art HPS Novus Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefit administration (including insurance companies, hospitals, doctors and labor unions, through various corporation in which the majority shareholder has controlling ownership), providing healthcare administrative software, licensing and maintenance services.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Comprehensive Healthcare Systems Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2022/27/c8745.html