VitalHub Corp. Announces Effective Date of Share Consolidation
January 03 2020 - 11:26AM
VITALHUB CORP. (TSXV: VHI) (the “Company” or “VitalHub”), today
announces implementation of the consolidation of its share capital
on a 10 for 1 basis, consolidating its currently issued and
outstanding shares to 18,017,916 (the "Consolidation"). Shareholder
authorization to effect the share consolidation was approved
pursuant to a special resolution passed by shareholders on June 27,
2019. In accordance with the constating documents of the Company
and the aforementioned shareholder approval, the board of directors
of the Company passed a resolution authorizing the Consolidation.
The Company's shares will continue to be traded
on the TSX Venture Exchange (the "Exchange") under the symbol "VHI"
on a post-consolidation basis and under a new CUSIP number —
92847V501 / ISIN number — CA92847V5018.
The Company's common shares are scheduled to
begin trading on a post-consolidation basis on the Exchange at
market open on January 6, 2020. A letter of transmittal will be
mailed to all registered shareholders with instructions on how to
exchange existing share certificate(s) for new share
certificate(s). Until surrendered, each certificate formerly
representing common shares of the Company will be deemed for all
purposes to represent the number of common shares to which the
holder thereof is entitled as a result of the Consolidation.
No fractional post-consolidation common shares
will be issued. Where the consolidation will result in a fractional
share that is less than one half of a post-consolidation common
share, such fractional share will be cancelled, without further
compensation. Where the consolidation will result in a fractional
share that is one-half of a post-consolidation common share or
more, such share will be rounded up to one whole post-consolidation
common share.
Further details with respect to the
Consolidation are contained in the Company's management information
circular dated June 27, 2019, a copy of which is available on SEDAR
at www.sedar.com.
The exercise price and number of shares of the
Company issuable upon the exercise of any outstanding stock
options, warrants or other convertible securities will be
proportionately adjusted to reflect the Consolidation.
ABOUT VITALHUB
VitalHub develops and supports mission-critical
information systems in the Social Service, Mental Health (Child,
Youth and Adult), Long Term Care, Community Health Service, Home
Health and Hospital sectors. VitalHub technologies include
Blockchain, Mobile, and Web-Based Assessment, Client Management and
Electronic Health Record solutions.
The Company has a robust two-pronged growth
strategy, targeting organic growth opportunities within its product
suite, and pursuing an aggressive M&A plan. Currently, VitalHub
serves 200+ clients across North America. VitalHub is based in
Toronto, Canada, with an offshore innovation hub in Sri Lanka. The
Company is publicly traded on the TSX Venture Exchange under the
symbol "VHI".
CAUTIONARY STATEMENT
The TSX Venture Exchange has in no way passed
upon the merits of the transactions and has neither approved nor
disapproved the contents of this press release. Neither the 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 press
release.
CONTACT INFORMATION
VitalHubDan Matlow Chief Executive Officer,
Director (416) 727-9061 dan.matlow@vitalhub.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release contains "forward-looking
information" within the meaning of Canadian securities legislation.
Forward-looking information generally refers to information about
an issuer's business, capital, or operations that is prospective in
nature, and includes future-oriented financial information about
the issuer's prospective financial performance or financial
position.
The forward-looking information in this news
release includes reference to disclosure about the terms of the
Acquisition and about Oculys. VitalHub made certain material
assumptions, including but not limited to: prevailing market
conditions; general business, economic, competitive, political and
social uncertainties; delay or failure to receive board,
shareholder or regulatory approvals; and the ability of VitalHub
and Oculys to execute and achieve its business objectives, to
develop the forward-looking information in this news release. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking
information in this news release due to certain material risk
factors. These risk factors include, but are not limited to:
adverse market conditions; the inability of VitalHub and Oculys to
successfully integrate operations; reliance on key and qualified
personnel; and regulatory and other risks associated with the
medical and technology industries in general. The foregoing list of
material risk factors and assumptions is not exhaustive.
VitalHub assumes no obligation to update or
revise the forward-looking information in this news release, unless
it is required to do so under Canadian securities
legislation.
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