GRAND RAPIDS, MICHIGAN--(Marketwired - Jan. 27, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Agility Health, Inc. (TSX VENTURE:AHI) ("Agility Health" or, the "Company"), a leading provider of physical rehabilitation and software services that benefit patients, healthcare providers and employers, is pleased to announce that it has closed the previously announced non-brokered private placement offering (the "Private Placement") of 4,424,780 Units at a purchase price of CAD$0.113 per Unit for total gross proceeds of CAD$500,000. Each Unit is comprised of one voting common share in the capital of Agility ("Voting Common Share") and one tenth of one Voting Common Share purchase warrant (the "Warrants"). Each whole Warrant will entitle the holder to acquire one Voting Common Share at a price of CAD$0.15 for a two year period from the date of the closing of the Private Placement.
The net proceeds of the Private Placement will be used to provide operational and working capital. The Voting Common Shares issuable pursuant to the Private Placement and upon exercise of the Warrants will be subject to a hold period expiring four months and one day after the date of issuance.
In addition, Agility Health, LLC and Alaris USA, Inc. continue to cooperate with respect to pursuing options that could result in the repurchase of the units held by Alaris USA, Inc. in Agility Health, LLC. In this regard, the parties have agreed to further extend by 30 days the period referred to in our press release of November 7, 2016
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
About Agility Health
Through its subsidiary and principal operating entity, Agility Health, LLC, Agility Health operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility Health provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. As of June 30, 2016, Agility Health operated 88 outpatient or onsite rehabilitation locations in 14 states. Agility Health's contract therapy services business provides rehabilitative services to 34 hospitals and inpatient rehabilitation units and 27 nursing homes, long-term care facilities and other service locations in 8 states. For more information, please visit investors.agilityhealth.com.
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.