WELL Health Announces Time-Based Earn Out Payment in Connection with Acquisition of Private HealthCare Clinics Completed in November 2018
Vancouver, B.C., August 6, 2019 – WELL Health Technologies Corp. (TSX.V: WELL) (the “Company” or “WELL”), a company focused on consolidating and modernizing clinical and digital assets within the primary healthcare sector, announces, further to its news release dated November 1st, 2018, the Company paid $96,789 in cash and intends to issue an aggregate of 14,933 shares in accordance with the acquisition agreements whereby the Company acquired all of the issued and outstanding shares of 13 target companies operating an aggregate of 13 Healthcare Clinics in British Columbia.
The issuance of the shares is subject to the approval of the TSX Venture Exchange (the “TSXV”). The shares will be subject to a statutory hold period expiring on the date that is 4 months and one day after the Payment Date.
WELL HEALTH TECHNOLOGIES CORP.
Per: “Hamed Shahbazi”
Chief Executive Officer, Chairman and Director
For further information:
Pardeep S. Sangha
Vice President Corporate Strategy and Investor Relations
WELL is a unique company that operates Primary Healthcare Facilities as well as a significant EMR or Electronic Medical Records business that supports the digitization of such clinics. WELL’s overarching objective is to empower doctors to provide the best and most advanced care possible leveraging the latest trends in digital health. In the last 12 months, WELL physicians served approximately 600,000 patient visits through its network of 19 medical clinics. WELL is publicly traded on the TSX Venture Exchange under the symbol WELL.V. WELL was recognized as a TSX Venture 50 Company in 2018 and 2019.
This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of WELL, such as statements that WELL intends to make the Shares for Debt filing. There are numerous risks and uncertainties that could cause actual results and WELL’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; or (ii) the TSXV not approving the Shares for Debt filing. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, WELL does not intend to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.