/NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES OF
AMERICA/
TORONTO, April 22,
2022 /CNW/ - This press release is being disseminated
as required by National Instrument 62–103 - The Early Warning
System and Related Take Over Bids and Insider Reporting Issuers
in connection with the filing of an early warning report (the
"Early Warning Report") regarding the acquisition of
securities of Vitalhub Corp. (TSX: VHI) (the "Issuer"), with
its head office located at 480 University Avenue, Suite 1001,
Toronto, Ontario M5G 1V2, by Shen
Capital Fund I L.P., by its General Partner, Shen Capital
Management Inc. ("Shen Capital"), with its head office
located at 130 Bloor Street West, Suite 905, Toronto, Ontario, M5S 1N5.
Shen Capital purchased 2,269,175 common shares of the
Issuer ("Common Shares") pursuant to a bought deal
public offering of the Issuer completed on April 21, 2022 conducted by a syndicate of
underwriters led by Cormark Securities Inc. and Eight Capital and
included Beacon Securities Limited, Canaccord Genuity Corp. and
Roth Canada, Inc. (the "Offering") for $3.10 per Common Share, for aggregate proceeds of
$7,034,442.50.
Prior to the Offering, Shen Capital held, directly or
indirectly, 4,395,375 Common Shares of the Issuer, representing
11.8% of the issued and outstanding Common Shares on a non-diluted
basis, and following the Offering, Shen Capital holds, directly and
indirectly, an aggregate of 6,664,550 Common Shares, such amount
representing 15.5% of the issued and outstanding Common
Shares.
Shen Capital may increase or decrease its beneficial ownership
or control depending on market or other conditions.
A copy of the Early Warning Report with additional information
in respect of the foregoing matters may be found on
www.SEDAR.com.
The TSX does not accept responsibility for the adequacy or
accuracy of this release.
SOURCE VitalHub Corp.
