Protech Home Med­i­cal boosts fi­nanc­ing to $3-mil­lion

Stockwatch Daily - - HEALTH CARE - Mr. Hardik Mehta re­ports

PROTECH HOME Med­i­cal Corp. has amended the terms of its pre­vi­ously an­nounced bought deal of­fer­ing of com­mon shares of the com­pany. Un­der the amended terms of the of­fer­ing,

Bea­con Se­cu­ri­ties Ltd. has agreed to pur­chase, on a bought deal ba­sis, 25 mil­lion of­fered shares of the com­pany at a price of 12 cents per of­fered share for ag­gre­gate gross pro­ceeds to the com­pany of $3-mil­lion. In ad­di­tion, the com­pany has granted the un­der­writer an op­tion, ex­er­cis­able, in whole or in part, giv­ing no­tice to the com­pany at any time up to 48 hours prior to the clos­ing date (as de­fined be­low), to pur­chase up to an ad­di­tional 3.75 mil­lion of­fered shares at the is­sue price for ad­di­tional gross pro­ceeds of up to $450,000. In the event the

un­der­writer’s op­tion is ex­er­cised in full, the gross pro­ceeds to the com­pany will be $3.45-mil­lion.

The net pro­ceeds from the of­fer­ing will be used for work­ing cap­i­tal and gen­eral cor­po­rate pur­poses.

The com­ple­tion of the of­fer­ing is ex­pected to oc­cur on or about Oct. 31, 2018, and is sub­ject to the com­ple­tion of for­mal doc­u­men­ta­tion and re­ceipt of ap­pli­ca­ble reg­u­la­tory ap­provals, in­clud­ing the ap­proval of the TSX Ven­ture Ex­change. All se­cu­ri­ties is­sued in con­nec­tion with the of­fer­ing will be sub­ject to a four-month hold pe­riod from the clos­ing date in ac­cor­dance with ap­pli­ca­ble Cana­dian se­cu­ri­ties laws.

About Protech Home Med­i­cal Corp.

The com­pany pro­vides in-home mon­i­tor­ing and disease man­age­ment ser­vices for pa­tients in the United States health care mar­ket. The pri­mary busi­ness ob­jec­tive of the com­pany is to cre­ate share­holder value by of­fer­ing a broader range of ser­vices to pa­tients in need of in-home mon­i­tor­ing and chronic disease man­age­ment. The com­pany’s or­ganic growth strat­egy is to in­crease an­nual rev­enue per pa­tient by of­fer-

ing mul­ti­ple ser­vices to the same pa­tient, con­sol­i­dat­ing the pa­tient’s ser­vices and mak­ing life eas­ier for the pa­tient.

We seek Safe Har­bor.

Greg Craw­ford, Mark Green­berg

(PHM) Shares: 379,096,396

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