/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
VANCOUVER, Oct. 11, 2019 /CNW/ - WELL Health Technologies
Corp. (TSX.V: WELL) ("WELL" or the
"Company"), a company focused on consolidating and
modernizing clinical and digital assets within the primary
healthcare sector, today announced that the TSX Venture Exchange
has accepted its Notice of an Intention to Make a Normal Course
Issuer Bid which shall commence on October
17, 2019 and terminate on October 16,
2020, or such earlier date if the maximum number of shares
are purchased.
At the opening of the stock market on today's date, the Company
is expected to have 108,324,535 common shares issued and
outstanding following the conversion of the previously announced
special warrants financing of the Company. Under the Normal Course
Issuer Bid, the Company may acquire up to an aggregate of 5,416,226
common shares over the next 12-month period, representing
approximately 5% of the issued and outstanding common shares of the
Company.
WELL believes that share purchases pursuant to the Normal Course
Issuer Bid will contribute to the facilitation of an orderly market
and be in the best interests of the Company and its shareholders.
In the event that WELL believes that its common shares begin
trading in a price range that does not adequately reflect their
underlying value based on WELL's business prospects and strong
financial position, WELL may purchase shares pursuant to the Normal
Course Issuer Bid. Depending upon future price movements and other
factors, WELL believes that its outstanding common shares represent
an attractive investment and a desirable use of a portion of its
corporate funds.
Purchases subject to this Normal Course Issuer Bid will be
carried out pursuant to open market transactions through the
facilities of the TSX Venture Exchange and any other available
markets and alternative trading systems in Canada by GMP Securities LP on behalf of the
Company in accordance with applicable regulatory requirements. All
common shares purchased by the Company under the Normal Course
Issuer Bid will be returned to treasury and cancelled.
To the knowledge of the Company, no director, senior officer or
other insider of the Company currently intends to sell any common
shares under this bid. However, sales by such persons through the
facilities of the TSX-V or any other available market or
alternative trading system in Canada may occur if the personal circumstances
of any such person change or if any such person makes a decision
unrelated to these normal course purchases. The benefits to any
such person whose shares are purchased would be the same as the
benefits available to all other holders whose shares are
purchased
US Disclaimer
This new release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"),
or any state securities laws and may not be offered or sold within
the United States or to or for the
account or benefit of a U.S. person (as defined in Regulation S
under the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL
WELL is a unique company that operates Primary Healthcare
Facilities as well as a significant EMR or Electronic Medical
Records business that supports the digitization of such clinics.
WELL wholly owns and operates 19 medical clinics and provides
digital Electronic Medical Records (EMR) software and services to
852 medical clinics across Canada.
WELL's overarching objective is to empower doctors to provide the
best and most advanced care possible leveraging the latest trends
in digital health. WELL is publicly traded on the TSX Venture
Exchange under the symbol WELL.V. WELL was recognized as a TSX
Venture 50 Company in 2018 and 2019.
Forward-Looking Statements
This news release may contain "forward-looking statements"
within the meaning of applicable Canadian securities laws,
including, without limitation, the expectation that the Company
will conduct a Normal Course Issuer Bid and purchase the maximum
number of common shares permissible thereunder as described in this
news release. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable by management, are inherently subject to significant
business, economic and competitive uncertainties, and
contingencies. These statements generally can be identified by the
use of forward-looking words such as "may", "should", "will",
"could", "intend", "estimate", "plan", "anticipate", "expect",
"believe" or "continue", or the negative thereof or similar
variations. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause future
results, performance or achievements to be materially different
from the estimated future results, performance or achievements
expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future
performance. WELL's statements expressed or implied by these
forward-looking statements are subject to a number of risks,
uncertainties, and conditions, many of which are outside of WELL 's
control, and undue reliance should not be placed on such
statements. Forward-looking statements are qualified in their
entirety by the inherent risks and uncertainties surrounding the
Transaction, including: that WELL's assumptions in making
forward-looking statements may prove to be incorrect; adverse
market conditions; risks inherent in the primary healthcare sector
in general; that future results may vary from historical results;
and that market competition may affect the outcome of the business,
results and financial condition of WELL. Except as required by
securities law, WELL does not assume any obligation to update or
revise any forward-looking statements, whether as a result of new
information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE WELL Health Technologies Corp.