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VANCOUVER, BC, Sept. 14, 2022 /CNW/ – CareSpan Health, Inc. (TSXV: CSPN) (“Company” or “CareSpan”), is pleased to announce that it has closed the first tranche of a non-brokered private placement (the “Private Placement“) of up to 7,821,000 units of the Company (the “Units“) for gross proceeds of up to USD$1,500,000. Under the first tranche, the Company sold 2,740,899 Units at a price of CAD$0.25 per Unit, for gross proceeds of CAD$685,224.75.
Each Unit consists of one common share in the capital of the Company (each, a “Share“) and one common share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder to purchase one additional Share (each, a “Warrant Share“) for a period of 60 months from the date of issue of the Warrants at an exercise price of CAD $0.40 per Warrant Share.
No finder’s fee was payable in connection with the closing of the first tranche of the Private Placement. The Company may pay a finder’s fee in the form of a cash payment and/or the issue of common share purchase warrants in connection with future tranches of the Private Placement within the maximum amount permitted by the policies of the TSX Venture Exchange (the “TSXV“). The Company will complete multiple closings of the Private Placement as subscriptions are received. Each closing is subject to a number of conditions, including, without limitation, approval of the TSXV, and receipt of all…
