In This Article:
Calgary, Alberta--(Newsfile Corp. - February 4, 2025) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the "Company" or "CHS"), an industry leader in healthcare benefits administration software and services, announces that it has received Exchange approval to extend the deadline for its non-brokered private placement (the "Offering") of up to 124 million shares at a price of $0.01 per share for gross proceeds of $1.24 million (see news release dated December 23, 2024) from February 6, 2025 to March 7, 2025.
The extension will allow the Company to seek, at its annual shareholder meeting (the "Meeting") to be adjourned to and held on February 25, 2025, disinterested shareholder approval for the creation of a Control Person pursuant to the policies of the Exchange. To the extent that insider participation in either the Offering and/or the shares for debt settlements (the "SFD") announced January 23, 2025, is a "related party transaction" within the meaning of MI 61-101, the Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(b), (c) and (g), and sections 5.7(b) and (e), respectively, of MI 61-101. For further information, please see the Company's information circular for the Meeting dated January 13, 2025, available on the SEDAR+ website at sedarplus.ca, under the Company's profile.
The creation of a Control Person, as well as completion of the Offering and the SFD, remain subject to, as applicable, all requisite shareholder and Exchange approvals.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company's state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.
FORWARD-LOOKING INFORMATION:
The press release contains "forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "budget", "believe", "project", "estimate", "expect", "scheduled", "forecast", "strategy", "future", "likely", "may", "to be", "could", "would", "should", "will" and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.