Patient Home Monitoring (PHM) Announces Final Equity Financing Details

SAN FRANCISCO, CALIFORNIA--(Marketwired - Aug. 26, 2013) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on rolling-up annuity-based healthcare service companies in the US and Canada, today announced it has finalized its proposed financing. Accommodating oversubscriptions and US investor participation, the company has again increased its total authorized placement from $2,540,000 to $2,740,000 and will close the entire financing by September 1st, 2013.

Details of the Placement

PHM has authorized a total placement of 20,269,269 common share units ("Units") at a price of $0.135 per Unit for gross proceeds of $2,740,000. Each Unit consists of one common share in the capital of PHM (a "Common Share") and one-half of one common share purchase warrant (a "Warrant") of PHM. Each whole Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.22 per Common Share up to the date that is the one year anniversary of closing, and at a price of $0.28 per Common Share from the day after the one year anniversary of closing until the two year anniversary of closing, subject to acceleration. Compensation to placement agents consists of cash fees of 7% of gross proceeds, plus warrants equal to 7% of the common stock issued at a strike price of $0.135. All securities issued pursuant to the financing are subject to a four-month hold period.

About PHM

PHM is currently a positive cash flow and profitable company servicing patients with chronic heart disease and will act as a platform for acquisitions. PHM is focused on a highly fragmented and developing market of small privately-held companies servicing chronically ill patients with multiple disease states caused mainly by age and obesity. Because of the new and highly fragmented nature of the market, PHM is actively working to identify and evaluate profitable, annuity-based companies to acquire their patient databases and technical expertise at favorable prices. PHM's post acquisition organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient's services and making life easier for the patient. The expected result is growing EPS with each acquisition and growing revenue and profits from the cross selling efforts.