PLANO, TX, March 9, 2017 /CNW/ - Alternate Health Corp. (CSE:AHG, OTC:ATEHF) (the "Company") is pleased to announce that it closed on March 6, 2017, a non-brokered private placement with gross proceeds of CAD$7,569,055 less finder's fees of CAD$259,330.50.
The Company issued 2,328,940 common shares at a price of CAD$3.25 (USD$2.50) per share. All common shares issuable under the private placement have a four-month hold period in accordance with securities laws, expiring on July 7, 2017. Finder's fees will be paid as permitted by CSE policies and applicable securities laws.
Alternate Health Corp. intends to use the proceeds of the private placement for general working capital purposes and continued acquisition and investment activities in the growing medical cannabis industry and as it leverages its expertise in technology to revolutionize patient care and service delivery.
About Alternate Health Corp.
Alternate Health Corp. is a diversified healthcare company that uses its expertise in technology to revolutionize patient care and service delivery in both traditional and complementary medical fields. With investments in research, education and cutting edge technology, Alternate Health is a leader in software applications and processing systems for the medical industry using proprietary technology platforms. Through its subsidiaries, Alternate Health offers services ranging from medical practice and controlled substance management software to blood analysis and toxicology labs, to clinical research and continuing education programs. Alternate Health's goal is to continue to lead the medical industry with data-driven results in patient care and product development.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations, business prospects and financing plans, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements.
SOURCE Alternate Health Corp.
For further information: Jim Griffiths, Director of Investor Relations, 416-607-5757