Certive Solutions Inc.
CSE : CBP
OTCQB : CTVEF

Certive Solutions Inc.

September 14, 2016 09:00 ET

Certive Solutions Inc. Announces Closure of US$630,456 Private Placement and US$252,714 in Options Exercised

VANCOUVER, BRITISH COLUMBIA and SCOTTSDALE, ARIZONA--(Marketwired - Sept. 14, 2016) - Certive Solutions Inc. (CSE:CBP)(OTCQB:CTVEF) ("Certive" or the "Company"), announces that effective September 12, 2016, the Company has closed a private placement for gross proceeds of US$630,456, in exchange for the issuance of 2,101,523 units (the "Units") in its capital stock. The Units were sold at a price of US$0.30 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for two years commencing from September 12, 2016 at a price of US$0.35 per share. The Company also announces its intention to pay a finder's fee of 8% with respect to the private placement funds secured.

The Company also announces that effective September 12, 2016, a total of 1,263,570 incentive stock options were exercised for total proceeds of US$252,714. The Company has, and will continue to utilize, the funds for general working capital purposes and for investment in sales and marketing initiatives.

The Company also announces the granting of 2,100,000 stock options to directors of the Company, exercisable into 2,100,000 common shares at a price of US$0.22 per share for a period of five years.

Van Potter, CEO of the Company, and Brian Cameron, CFO of the Company, welcome the commitment of Certive's investors to continuing the growth of Certive, noting that members of the Advisory Council and management were contributors to the overall capital raised in the combined offerings. In addition, they noted that the price at which the Units were sold exceeded the current market value of Certive.

For more information, please visit our website at www.certive.com, or contact Certive directly at 480-922-5327.

About Certive Solutions Inc.

Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to the U.S. healthcare market. Certive's claim audit and recovery services, billing services, and software solutions help providers work with payers to efficiently manage the reimbursement process and improve financial performance. Certive's highly skilled and experienced management team, combined with proprietary workflow and analytics, audit and identify, and bill and collect, underpayments in accordance with contractual obligations between the public or commercial insurance carrier and the designated provider. The healthcare market is changing. Certive works with clients to provide efficient and effective solutions aligned with reform initiatives to improve healthcare and reduce costs.

FORWARD-LOOKING AND OTHER STATEMENTS

This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as "may", "would", "could", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts.

A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward looking statements.

Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:

  • the effect of continuing operating losses on our ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;

  • the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;

  • the risks associated with the development of our technology;

  • the risks associated with the increase in operating costs from additional development costs and increased staff;

  • the timing and nature of feedback from customers; and

  • our ability to successfully compete in our targeted markets.

Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.

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