NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Hydreight Technologies Inc. (TSXV: NURS) ("Hydreight" or the "Company"), a North American, fully integrated, mobile clinical network of nurses, doctors, and pharmacy distribution, is pleased to announce that it has received commitments of over $4 million for its brokered private placement previously announced on February 10, 2025 (the "Offering"). The Offering remains subject to approval from the TSX Venture Exchange.
Shane Madden, the Chief Executive Officer of the Company, said "we have closed the order books after a successful marketing period. We look forward to welcoming new investors that support our long-term objectives."
The Offering is being conducted by Beacon Securities Limited (the "Agent") and will consist of up to 2,581,000 units of the Company (each, a "Unit") at a price of $1.55 per Unit (the "Offering Price") for aggregate gross proceeds of up to $4,000,550. Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant (each, a "Warrant") of the Company. Each Warrant will entitle the holder thereof to acquire one common share of the Company (each, a "Warrant Share") at a price of $2.00 per Warrant Share for a period of 36 months from the Closing Date (as defined herein). The Units will be issued under the listed issuer financing exemption pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions.
In addition, the Company has granted the Agent an option to arrange for the purchase and sale of up to an additional 3,710,000 Units at the Offering Price, exercisable in whole or in part, by the Agent giving notice to the Company at any time until 48 hours prior to the closing of the Offering.
There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.hydreight.com. Prospective investors should read the Offering Document before making an investment decision.
The Offering is expected to close on or about February 26, 2025 (the "Closing Date"), or such other date as may be determined by the Company the Agent and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. persons or any persons within the United States absent registration or available exemptions from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 'United States' and 'U.S. person' are as defined in Regulation S under the U.S. Securities Act.
Neither 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 release.
About Hydreight Technologies Inc. Hydreight Technologies Inc is building one of the largest mobile clinic networks in the United States. Its proprietary, fully integrated platform hosts a network of over 2500 nurses, over 100 doctors and a pharmacy network across 50 states. The platform includes a built-in, easy-to-use suite of fully integrated tools for accounting, documentation, sales, inventory, booking, and managing patient data, which enables licensed healthcare professionals to provide services directly to patients at home, office or hotel. Hydreight is bridging the gap between provider compliance and patient convenience, empowering nurses, med spa technicians, and other licensed healthcare professionals. The Hydreight platform allows healthcare professionals to deliver services independently, on their own terms, or to add mobile services to existing location-based operations. Hydreight has a 503B pharmacy network servicing all 50 states and is closely affiliated with a U.S. certified e-script and telemedicine provider network.
About VSDHOne - Direct to Consumer Platform Developed in partnership with Victory Square Technologies (CSE: VST) (OTC: VSQTF) (FWB: 6F6), Hydreight launched the VSDHOne (Read as VSDH-One) platform. VSDHOne simplifies the entry challenges for companies and medi-spa businesses to enter the online healthcare space compliantly. This platform will help all businesses to launch a direct-to-consumer healthcare brand in a matter of days in all 50 states. Compliant offerings include: GLP-1s (semaglutide, tirzepatide), peptides, personalized healthcare treatments, sermorelin, testosterone replacement therapy (TRT), hair loss, skincare, sexual health and more. Hydreight invested in technology, legal and infrastructure to launch this platform. The VSDHOne platform offers a complete, end-to-end solution for businesses looking to launch direct-to-consumer healthcare brands. From compliance and telemedicine technology to nationwide doctor and pharmacy networks, VSDHOne provides all the tools needed for a seamless entry into the online healthcare space. The platform is designed to significantly reduce the time and costs associated with launching such services, making it possible for businesses to go live in days instead of months.
Cautionary Note Regarding Forward-Looking Information Certain statements made and information contained in this news release, including statements regarding the terms, amounts, timing, closing and use of proceeds raised under the Offering and receipt of all required approvals relating to the Offering, is "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements, including but not limited to the timing of the closing of the Offering and the intended use of net proceeds raised from the Offering, are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to the Offering and the issuance of the Units, including the amounts expected to be raised, the timeline of certain events in respect thereof, including the applicable exemptions, satisfaction of closing conditions, the receipt of TSX Venture Exchange approvals in respect of the Offering, sufficiency of proceeds, conditions of financial markets, economic conditions including any governmental regulations with respect thereto including tariffs, protective governmental regulations, consumer responses to such actions and other related effects, management's discretion with respect to the use of proceeds and the use of the available funds following completion of the Offering, including the timing and cost of planned corporate projects and developments and the use of funds in connection therewith, and the other risk factors described in our securities filings available at www.sedarplus.ca. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company.
Although the Company believes that the assumptions and factors used in preparing these forward- looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements and no assurance can be given that such events will occur in the disclosed times frames or at all. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are therefore cautioned not to place undue reliance on forward-looking statements and forward-looking information. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, changing circumstances, or otherwise.
