Centric Health Closes $21,528,000 Private Placement Financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, March 3 /CNW/ - Centric Health Corporation ("Centric Health") (TSX: CHH), announced today that it has completed its previously announced private placement of 17,940,000 common shares ("Common Shares") at a price of $1.20 per Common Share for gross proceeds of $21,528,000. This includes 2,340,000 Common Shares issued pursuant to the exercise of an over-allotment option granted to the Underwriters (as defined below). Centric Health previously announced that it had agreed to sell the Common Shares on a "bought-deal" private placement basis to GMP Securities L.P. and Versant Partners Inc. (the "Underwriters"). Centric Health intends to use the net proceeds from the private placement for strategic acquisitions from time to time and general corporate purposes.
About Centric Health
Centric Health's vision is to be Canada's premier healthcare company, providing innovative solutions centered on patients and healthcare professionals. As a diversified healthcare company with investments in several niche service areas, Centric Health currently has operations in medical assessments, disability and rehabilitation management, physiotherapy and surgical centres, homecare, specialty pharmacy and wellness and prevention. With knowledge and experience of healthcare delivery in international markets and extensive and trusted relationships with payers, physicians, and government agencies, Centric Health is pursuing expansion opportunities into other healthcare sectors to create value for all stakeholders with an unwavering commitment to the highest quality of care. Centric Health is listed on the TSX under the symbol CHH. For further information, please visit www.centrichealth.ca. Centric Health's strategic advisor is Global Healthcare Investments & Solutions, Inc. ("GHIS") (www.ghis.us). GHIS and entities controlled by shareholders of GHIS are currently the largest shareholders of Centric Health.
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Centric Health and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Centric Health will derive there-from.
For further information:
|Peter Walkey |
Chief Financial Officer
416-496-6166 ext. 329
416-815-0700 ext. 266