GRAND RAPIDS, MICHIGAN--(Marketwired - March 31, 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 rehabilitation services, orthotics and software services that benefit patients, healthcare providers and employers, today announced that it has granted 80,000 incentive stock options to each of Robert Herr, Robert Metcalfe, and Pierre Labbé, the independent directors of the Company. Each option is exercisable at a price of $0.12 and the options will expire five years from the date of grant. The stock options vest in four installments on the last day of each calendar quarter, with the first vesting date being June 30, 2017.
Shares for Services Transaction
In accordance with the financial advisory agreement between the Company and Maxim Group LLC ("Maxim") announced on January 31, 2017, Agility Health will issue a total of 541,666 voting common shares of the Company to an affiliate of Maxim on April 3, 2017 in consideration for CAD$65,000 of services rendered by Maxim to the Company during the period from February 28, 2017 to March 31, 2017. The shares will be issued at $0.12 per share, the closing price of the voting common shares of the Company on the TSX Venture Exchange on March 31, 2017, and will be subject to a four month hold period expiring August 4, 2017.
About Agility Health
Through its U.S. 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 January 1, 2017, Agility Health operates 84 outpatient or onsite rehabilitation locations in 14 states. Agility Health's contract therapy services business provides rehabilitative services to 36 hospitals and inpatient rehabilitation units and 37 nursing homes, long-term care facilities and other service locations in 11 states.
In Canada, Medic Holdings Corp., Agility's primary Canadian subsidiary, operates twelve (12) foot care clinics and manufactures orthotics and prosthetics.
For more information, please visit www.agilityhealth.com.