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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (8793)	8/28/2014 9:38:28 AM
From: Goose94	Read Replies (2) \| Respond to of 202685

Patient Home Monitoring (PHM-V) Aug 28, '14 has completed its previously announced brokered private placement of subordinated debentures for gross proceeds of $8,625,000 to be used for acquisition purposes, medical equipment and general working capital. "With our current cash position, we plan to make several impactful acquisitions" said Michael Dalsin, Chairman of PHM. "Given our current balance sheet, and with the free cash flow that we are generating, I believe we can achieve our goal of increasing revenues without any further financings. I would like to thank Mackie Research and Beacon Securities for their efforts in this financing. As the Chairman and a large shareholder, I continue to be focused on significantly increasing Earnings per Share quarter after quarter." PHM announced on August 12, 2014 that it engaged a syndicate of agents, led by Mackie Research Capital Corporation and including Beacon Securities Limited (the "Agents") to complete a best efforts private placement offering of debenture units ("Units") of approximately $7,500,000 (the "Offering"). The Agents were also offered the option to increase the size of the Offering by up to 1,125 additional Units for additional aggregate gross proceeds to the Company of up to $1,125,000. The Agents exercised their option in full, and placed 8,625 Units for gross proceeds to the Company of $8,625,000. This Offering positions PHM to continue to pursue attractive healthcare acquisitions. PHM seeks to continue to make acquisitions in the large and fragmented market of small, profitable businesses providing healthcare products and services to chronically ill patients and for working capital and general corporate purposes. Each Unit consisted of one $1,000 principal amount non-convertible unsecured subordinated debenture and nine hundred transferable common share purchase warrants, with each warrant entitling the holder thereof to acquire one common share in the capital of PHM at a price of $0.45 per share until August 27, 2019, subject to acceleration at any time following 12 months from closing in the event the volume weighted average trading price of the common shares of PHM exceeds $0.55 for a period of twenty consecutive trading days. In connection with the Offering, PHM paid a cash commission of $172,500, and issued broker warrants to purchase 5,744,250 shares of PHM at $0.45 until August 27, 2019, subject to the aforementioned acceleration provisions. The Offering closed on August 27, 2014, subject to final approval of the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period until December 28, 2014 in accordance with applicable securities legislation. On or about December 29, 2014 the debentures are expected to commence trading under a ticker symbol to be announced.