Vancouver, British Columbia--(Newsfile Corp. - July 18, 2022) - Bloom Health Partners Inc. (CSE: BLMH) (OTCQB: BLMHF) (FSE: D840) ("Bloom" or the "Company"), a leading provider of operational health and health technology, announces that it has closed the second tranche of its previously announced non-brokered private placement offering (the "Offering") and has issued 2,770,000 units (the "Units") at $0.20 per Unit for gross proceeds of C$554,000. Combined with the first tranche of the Offering, the Company has sold 7,920,000 Units of the Company for aggregate gross proceeds of C$1,584,000. The Units are comprised of (i) one (1) common share in the capital of the Company ("Common Shares"); and (ii) one-half (1/2) of a transferable common share purchase warrant (each whole warrant, a "Warrant" and collectively, the "Warrants"). Each Warrant entitles the holder thereof to acquire one (1) additional Common Share (each, a "Warrant Share") in the capital of the Company at a price of $0.30 per Warrant Share until July 18, 2023. The net proceeds of the Offering will be used by the Company for ongoing working capital and corporate development.
In connection with closing the second tranche of the Offering, the Company paid C$32,640 and issued 163,200 Warrants, exercisable at a price of $0.30 per Warrant Share until July 18, 2023 to an arms-length party who assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering are subject to a statutory hold period until November 19, 2022 in accordance with applicable securities laws.
Investor Relations Engagement
The Company also announces that its board of directors has approved a change in the duties of an existing consultant to the Company, Spiro Kletas, to include advising the Company on shareholder communications and financing strategy. Mr. Kletas is presently compensated at a rate of $6,000 per month, and will continue at this rate. In consideration for his additional duties, Mr. Kletas has also been granted 150,000 incentive stock options, vesting over a twelve-month period and exercisable at a price of $0.40 until July 5, 2025.
About Bloom Health Partners Inc.
Bloom Health Partners Inc. is a global platform for healthcare security, diagnostic testing and occupational health-tech. Our mission is to ensure that "unstoppable is possible" for businesses and their employees through innovative, customized healthcare models. Bloom offers a system for businesses and organizations that helps engage employees and creates strategies to manage health and safety. Our stable, scalable system is an integrated health-tech platform that securely manages data while delivering comprehensive workplace health and safety outcomes.
For more information on the Company, please email investors@bloomhealthpartners.com
On behalf of the board of directors,
Bloom Health Partners Inc.
Andrew Morton, Chief Executive Officer
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the Company's forward-looking statements include the potential that milestones may not be satisfied, acquisitions may not achieve expected benefits, financing requirements, and the other risk factors described in the Company's filings with Canadian securities regulators on www.sedar.com. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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