Patient Home Monitoring Corp.
TSX VENTURE : PHM

July 10, 2013 08:30 ET

Patient Home Monitoring (PHM) Announces Non-Brokered Private Placement

SAN FRANCISCO, CALIFORNIA--(Marketwired - July 10, 2013) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Patient Home Monitoring Corp. ("PHM") (TSX VENTURE:PHM) today announced that it is undertaking a non-brokered private placement (the "Offering") to raise up to $2,000,000 through the sale of units ("Units") of PHM. Each Unit is comprised of 1) one common share, and 2) one-half of one transferable warrant (the "Warrants"). All securities issued pursuant to the Offering will be subject to a four-month hold period. The closing (the "Closing") is expected to be on or about July 23, 2013.

PHM will pay a cash finders' fee to eligible finders for an aggregate amount of 7% of the gross proceeds in cash and compensation options entitling such eligible finder to purchase that number of common shares as is equal to 7% of the aggregate price. Each compensation option shall be exercisable for common shares of PHM at an exercise price of $0.22 per share for a period of 12 months from closing.

The Units will be issued to "accredited investors" as defined pursuant to National Instrument 45-106 by way of private placement exemption from the prospectus requirements and without the use of an offering memorandum or other form of offering document.

The proceeds of the Offering will be used for a reserve for asset acquisition investigations and general working capital purposes. The closing of the Offering remains subject to the approval of the Exchange.

About PHM

The explosive growth in elderly patients in the US healthcare market is creating pressure to decrease service costs. Healthcare providers, such as hospitals, physicians and pharmacies, cannot efficiently offer a full range of services with budgets being scaled back by insurance companies and Medicare. This cost pressure to healthcare providers is creating a gap in patient services.

PHM fills this gap by linking patients to their healthcare providers through a range of unique healthcare services and products.

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of PHM and anticipated events or results, are assumptions based on beliefs of PHM's senior management as well as information currently available to it. While these assumptions were considered reasonable by PHM at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue operations, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of PHM. The securities of PHM have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.

Contact Information

  • Patient Home Monitoring Corp.
    Michael Dalsin
    Chairman
    (323) 253-3055