P2P Health Systems Inc.
NEX BOARD : PTP.H

September 01, 2009 09:41 ET

P2P Increases Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

P2P Health Systems Inc. (NEX:PTP.H) (the "Company") is pleased to announce that, subject to regulatory approval, it has increased its previously announced (June 3, 2009) non-brokered private placement (the "Private Placement") by an additional 3,750,000 subscription receipts from up to 15,000,000 subscription receipts to up to 18,750,000 subscription receipts for additional gross proceeds of up to $300,000 (aggregate proceeds of up to CAN$1,500,000). All other terms of the Private Placement, as previously announced on June 3, 2009, remain the same.

The gross proceeds from the Private Placement will be held in escrow and will be released to the Company upon completion of the Company's change of business as described in the June 3, 2009 news release. If the change of business does not occur, the proceeds from the Private Placement will be returned to purchasers and the subscription receipts will be cancelled. The Company anticipates that the Private Placement will close on or about September 10, 2009.

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 release.

Contact Information

  • P2P Health Systems Inc.
    Todd Hilditch
    President and CEO
    (604) 443-3831