Deal arranged as part of qualifying transaction with Heltheo
By Devika Patel
Knoxville, Tenn., Jan. 17 - mHealth Capital Corp. said it plans a private placement of units to raise between C$1.5 million and C$4 million. The deal is being conducted in connection with the company's anticipated qualifying transaction with Heltheo, Inc.
The company will sell units of 1,250 common shares and one C$2,250 12% convertible debenture at C$2,500.00 per unit. The debenture converts to common stock at C$0.20 per share, which is a 53.85% premium to the Jan. 16 closing share price of C$0.13.
Proceeds will be used for working capital, product development and product marketing.
The capital pool company is based in Calgary, Alta.
| Issuer: | mHealth Capital Corp.
|
| Issue: | Units of 1,250 common shares and one C$2,250 12% convertible debenture
|
| Amount: | C$1.5 million (minimum), C$4 million (maximum)
|
| Price: | C$2,500.00
|
| Coupon: | 12%
|
| Conversion price: | C$0.20
|
| Warrants: | No
|
| Agent: | Macquarie Private Wealth Inc., non-brokered
|
| Pricing date: | Jan. 17
|
| Stock symbol: | TSX Venture: DOC.P
|
| Stock price: | C$0.13 at close Jan. 17
|
| Market capitalization: | C$1.17 million
|
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