VitalHub Corp. Announces Closing of Private Placement

October 24, 2017 5:07 PM EDT | Source: VitalHub Corp.

Toronto, Ontario--(Newsfile Corp. - October 24, 2017) - VITALHUB CORP. (TSXV: VHI) (the "Company" or "Vitalhub"), is pleased to announce that it has completed the previously announced private placement (the "Offering") of units (the "Units") at a price of $0.10 per Unit, for total gross proceeds of $85,000. Each Unit consisted of one common share (each, a "Common Share") and one Common Share purchase warrant (each a "Warrant").

Pursuant to the Offering, the Company issued a total of 850,000 Common Shares and 850,000 Warrants. Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.18 per share until October 24, 2019.

The Company intends to use the net proceeds of the Offering for general working capital purposes.

All securities issued in connection with the Offering are subject to a four month hold period expiring February 25, 2018.

About VitalHub

VitalHub delivers an innovate platform for the creation of mobile health applications that increases productivity within healthcare settings.  The VitalHub platform provides the ability to integrate existing individual healthcare applications while maintaining the control, security and privacy essential in healthcare.  VitalHub's applications are focused on the fast-growing mental health and long term care markets and the company plans to strategically acquire and grow business in these areas.  Currently over 50 healthcare institutions across Canada use products from VitalHub and its subsidiaries. 

VitalHub is based in Toronto, ON, and publicly traded on the TSX Venture Exchange: VHI.

For further information please contact:

Dan Matlow
Chief Executive Officer, and Director

(416) 727-9061
dan.matlow@vitalhub.com

Cautionary Statements

The TSX Venture Exchange has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this press release. Neither the 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 press release.

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