Continuum Health Care Inc. announces private placement

    TSX-V: CCF

    CALGARY, March 28 /CNW/ - Continuum Health Care Inc. (the "Corporation")
announces that at the close of business on March 27, 2007, it closed its
previously announced non-brokered private placement (the "Offering") of units
at a price of $0.12 per unit for gross proceeds of up to $400,000. Each unit
consists of one common share ("Common Share") and one common share purchase
warrant ("Warrant"). Each whole Warrant shall entitle the holders thereof to
purchase an additional Common Share for a period of two years from the closing
date at a price of $0.20 per Common Share. The units and the underlying
securities will be subject to a four month hold period.
    The Corporation received subscriptions for an aggregate subscription
amount of $400,000. Insiders subscribed for an aggregate of $213,000. The
Corporation has determined that an exemption from the valuation and minority
approval requirements of the Ontario Securities Commission Rule 61-501 is
available as the units offered pursuant to the private placement and the
consideration received by the Corporation from insiders and related parties
does not exceed 25% of the Corporation's market capitalization. Post-closing,
the directors and officers who participated in this private placement will
hold in aggregate 5,859,389 Common Shares, representing in aggregate 40% of
the issued and outstanding common shares of the Corporation.
    The gross proceeds of the private placement are intended to be used by
the Corporation to repay short term debt and for working capital.
    The securities will not be registered with the US Securities and Exchange
Commission and may not be offered or sold within the United States without
registration or an applicable exemption from the registration requirements of
the United States Securities Act of 1933 and any applicable state securities
    Parties intended in obtaining further information or receiving news
releases and corporate documents from the Corporation may e-mail such request
to or review the Corporation's documentation filed on SEDAR

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Mr. Patrick Hovan, President, Tel: (403)
556-1971, Fax: (403) 556-1997

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