International Health Partners Inc.
TSX VENTURE : IHP

International Health Partners Inc.

August 09, 2005 13:33 ET

International Health Partners Inc. Completes Private Placement

CALGARY, ALBERTA--(CCNMatthews - Aug. 9, 2005) - International Health Partners Inc. (TSX VENTURE:IHP) ("IHP or the "Company") is pleased to announce that it has completed a previously announced Non-Brokered Private Placement of 2,760,000 Units of the Company at a price of $0.05 per Unit for gross proceeds of $138,000. Each Unit consists of one common share ("Common Share") and one non-transferable common share purchase warrant of IHP (the "Warrant"), each Warrant entitling the holder to purchase one additional Common Share at a price of $0.10 for a period of two years from the date of issue. All of the securities issued under the private placement are subject to a four-month hold period.

The proceeds from the private placement will be used for payment of ongoing business expenses.

The Company also announces that it has granted 24,000 stock options to a director under terms of an Incentive Stock Option Plan approved by shareholders at the Company's Annual and Special meeting of Shareholders on December 9, 2004. The stock options have a term of 5 years and are exercisable at a price of $0.10.

International Health Partners Inc. (www.ihp.ca) is a medical and dental "Practice Management Company" ("PMC") in the business of evaluating and consolidating medical & dental facilities. The Company operates a chain of modern health facilities that provide primary medical and dental services in the Province of Alberta.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Health Partners Inc.
    Kevin Blanchette
    President and CEO
    (403) 264-7664
    (403) 264-7640 (FAX)
    Email : investor@ihp.ca
    Website: www.ihp.ca