Medivolve closes previously announced C $ 1.2 million convertible note financing


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2021-09-01

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TORONTO, August 31, 2021 / CNW / – Medivolve Inc. (“Medivolve“or the”Society“) (NEO: MEDV) (FRA: 4NC) is pleased to announce that the Company has closed the previously announced secured convertible note (the”Remarks“) Funding for total gross proceeds to the CAN Company $ 1.2 million (the “Offer“). The Notes have a term of 24 months and are convertible into a total of up to 17,142,857 Units (the”Units“) at a price per Unit of $ 0.07.

Each unit consists of one common share of the Company (a “Ordinary share“) and a common share purchase warrant (a”To guarantee“). Each warrant grants its holder the right to purchase one common share at an exercise price of $ 0.08 for a period of five years from the date hereof. No intermediation commission or commission was paid in connection with the Offer.

The Company plans to use the net proceeds of the offering to expand its operating activities, improve regulatory capital, marketing and general corporate purposes.

The securities issued under the Offer are subject to a legal holding period of four months and one day following the closing date, expiring December 31, 2021.

The securities to be offered under the Offer have not been and will not be registered under the US Securities Act of 1933, as amended (the “”U.S. Securities Law“) or any US state securities law, and may not be offered or sold in United States or to, or on behalf of or for the benefit of, United States persons absent from registration or any applicable exemptions from the registration requirements of the US Securities Act and applicable US securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in United States, nor will there be any sale of such securities in any jurisdiction in which such offering, solicitation or sale would be illegal.

About Medivolve, Inc.

Medivolve, Inc. (NEO: MEDV; OTC: COPRF; FRA: 4NC) is a healthcare technology company that seeks to reinvent the U.S. healthcare system by leveraging a bespoke telehealth platform, a clinical diagnostic network and data-driven AI framework to improve patient care.

The company was born out of the health crisis; to rethink, relearn and, ultimately, reinvent a better functioning of the health system. Our network of retail collection sites play an important role in recovery by giving all Americans access to fast, accurate, and inexpensive clinical services when and where they need it. These centers will also play a central role in diagnostic tests, vaccinations and other point-of-care services. We develop disruptive technologies to make it easier and faster to identify, treat and prevent medical problems. In doing so, we strive to give patients a holistic and empowered view of their personal health.

Our long-term mission is to permanently solve systemic problems in the country’s fragmented, overly complex and costly healthcare system. Medivolve’s next phase of growth is to rotate the model and put the pieces together to create a profitable SaaS-based healthcare technology business. We bring data-driven clinical diagnostics, physician referrals, and prescription drugs directly to people, all powered by a single, streamlined technology network. Our team is united by a powerful and singular goal: to harness the transformative power of technology to create healthier lives.

Backed by a bespoke AI-driven platform, we are developing a stealth system that constantly gets smarter, takes the guesswork out of diagnoses, and immediately reports critical health issues to deliver an unmatched level of personalization for every patient. We are committed to pushing the boundaries of what is possible, not only for our company and our shareholders, but for physicians and patients, and for the future of healthcare. We strive to achieve never-before-seen continuity of care, a game changer for our business and for the patients in the communities we serve.

Caution regarding forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding the offering, and in particular the intended use of the proceeds from the offering. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “planned”, “Estimates”, “anticipates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results ” could ”,“ could ”,“ could ”,“ could ”or“ will be taken ”,“ occur ”or“ be reached ”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially. different from those expressed or implied by this forward-looking information. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information, except in accordance with applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities law and may not be offered. or sold in United States or to US Persons, unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

NEO THE NEO EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

SOURCE Medivolve Inc.


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