Meta Health Services Inc. announces $250,000 Financing

MISSISSAUGA, ON, Sept. 25 /CNW/ - Meta Health Services Inc. (TSX-V: MHS.H) is pleased to announce that, subject to regulatory and shareholder approval, it will conduct a non-brokered private placement of up to 50,000,000 units at a price of $0.005 per unit, for gross proceeds of up to $250,000. Each unit will consist of one common share in the Company (a "Common Share") and one Common Share purchase warrant. Each warrant will entitle the holder to purchase an additional Common Share at a price of $0.05 per share for a period of one year. All securities will be subject to a four month hold period.

If the private placement is fully subscribed, there will be 63,122,040 Common Shares issued and outstanding on closing (or 113,122,040 Common Shares, assuming the exercise of the warrants).

The Company expects that a single investor will subscribe for all of the units available under the private placement, and that this will create a new control person under the policies of the TSX Venture Exchange. As a result the Company will seek the written consent of more than 50% of the shareholders of the Company to the private placement in accordance with the policies of the TSX Venture Exchange.

The proceeds from the sale of the units will be used by the Company for general working capital.

This document may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. We seek safe harbour.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.


For further information: For further information: Robert Taylor, Director and Chief Executive Officer, at (905) 564-5009

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