TORONTO, Feb. 24, 2017 /CNW/ - NexJ Health Holdings Inc. ("NexJ Health Holdings" or the "Company"), a provider of patient engagement solutions for chronic disease management with its head office at 10 York Mills Road, Suite 700, Toronto, Ontario M2P 2G4, today announced that they have secured $2,794,875 in financing by way of an initial private placement of 11,179,500 common shares of the Company (the "Common Shares") at a price of $0.25 per Share (the "Initial Private Placement"). As of February 23, 2017, including the Initial Private Placement, the Company has 32,446,853 issued and outstanding Common Shares. The securities issued are subject to a hold period of 4 months plus one day in Canada.
Pursuant to the Initial Private Placement 2,000,000 Common Shares were purchased by Eastwood Capital Corporation, a holding company incorporated in Ontario and controlled by William Holland with its head office at 2 Queen Street East, 20th floor, Toronto, Ontario, M5C 3G7 on February 17, 2017 representing 7.29% of the 27,446,853 issued and outstanding Common Shares as of that date (and an increase of 4.81% over the previous number of Common Shares owned and controlled prior to the initial private placement) and 4,000,000 Common Shares were purchased by Tatham Family Holdings II Ltd., a holding company incorporated in Ontario and controlled by William Tatham, with its head office at 10 York Mills Road, Suite 700, Toronto, Ontario M2P 2G4 on February 23, 2017 representing 12.33% of the 32,446,853 issued and outstanding Common Shares as of that date (and an increase of 3.32% over the previous number of Common Shares owned and controlled prior to the initial private placement). After giving effect to the Initial Private Placement, William Tatham, the Executive Chairman of NexJ Health Holdings and President of Tatham Family Holdings II Ltd. owns and controls an aggregate of 9,560,503 Common Shares, representing approximately 29.47% of the currently issued and outstanding Common Shares and William Holland, the President of Eastwood Capital Corporation owns and controls an aggregate of 4,336,300 Common Shares, representing approximately 13.36% of the currently issued and outstanding Common Shares.
Mr. Tatham and Mr. Holland each acquired the Common Shares for investment purposes, and may, in the future depending on market and other conditions, increase or decrease their ownership, control or direction over Common Shares in the capital of NexJ Health Holdings in accordance with applicable securities laws.
Mr. Tatham and Mr. Holland acquired beneficial ownership and control of an aggregate of 5,560,503 and 2,336,300 Common Shares, respectively, on January 25, 2016, representing 26.15% and 10.99%, respectively, at that time, in connection with the spin out of the Company by NexJ Systems Inc., in exchange for each common share of NexJ Systems Inc. held at the time of completion of the spin-out.
A copy of the early warning report filed in connection with this initial private placement by Mr. Tatham and Mr. Holland will be made available on SEDAR (www.sedar.com). A copy of the early warning report may also be obtained by calling Errol Singer at 416-222-5611.
About NexJ Health Holdings Inc.
NexJ Health Holdings Inc. is a provider of patient-facing population health management solutions that deliver patient engagement for chronic disease management. At NexJ Health, we believe that the most efficient and cost-effective way to offset the rise in chronic disease is to empower patients, with the support of their families, friends, and healthcare professionals, to actively participate in managing their own chronic condition(s). By engaging patients through NexJ Connected Wellness, patients are more likely to achieve their health goals, payers can lower costs, providers can improve care to patients, and pharmaceutical manufacturers and pharmacies can improve medication adherence. For more information about NexJ Health visit www.nexjhealth.com, e-mail firstname.lastname@example.org, or call 416-227-3700.
NexJ Health Holdings Forward-looking Statement
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ Health Holdings' current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company's assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company's actual results could differ materially from the expectations set out herein.
For additional information with respect to risks and other factors which could occur, see NexJ Health Holdings securities filings with the OSC and other securities regulators available on www.sedar.com. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE NexJ Health Holdings Inc.
For further information: Media Contact: Matthew Bogart, 416-227-3708, email@example.com