MONTRÉAL, June 04, 2021 (GLOBE NEWSWIRE) -- Premier Health of America Inc. (TSXV: PHA) (“Premier Health” or the “Corporation”) announces today that it has implemented changes to its CPC escrow agreement dated December 15, 2017 and amended on October 21, 2018 (the “Escrow Agreement”) to reflect the updates to Policy 2.4 – Capital Pool Companies (“Policy 2.4”) in the Corporate Finance Manual of the TSX Venture Exchange (the “Exchange”) which became effective January 1, 2021 (the “Updated CPC Policy”), as further described below.
Under the Updated CPC Policy effective as at January 1, 2021, the Corporation’s escrowed securities will be subject to only an 18 month escrow release schedule, whereby 25% of the escrowed securities will be released from escrow on the date the Exchange issues a final bulletin for the Corporation’s Qualifying Transaction, as this term is defined in the Updated CPC Policy, and 25% of the escrowed securities will be released from escrow on each of the 6, 12 and 18 months following such date.
In addition, the Corporation amended its Escrow Agreement as follows to also reflect the Updated CPC Policy: (i) all options granted prior to the date the Exchange issues a final bulletin for the Corporation’s Qualifying Transaction and all common shares that were issued upon exercise of such options prior to such date will be released from escrow on such date, other than options that (a) were granted prior to the Corporation’s IPO with an exercise price that is less than the issue price of the common shares issued in the IPO and (b) any common shares that were issued pursuant to the exercise of such options, which will be released from escrow in accordance with the schedule set out above.
About Premier Health
Premier Health is a leading Canadian Healthtech company that provides a comprehensive range of outsourced services solutions for healthcare needs to governments, corporations, and individuals. Premier Health uses its proprietary PSweb software platform to lead the healthcare services sector digital transformation to provide patients with faster, cheaper and more accessible care services.
For Further Information Please Contact:
Mr. Jean-Robert Pronovost
Vice-President, Corporate Development
Premier Health of America Inc.
jrpronovost@premierhealth.ca / 1 800 231 9916
Neither 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Corporation’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Corporation assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. These factors and others are more fully discussed in the filings of the Corporation with Canadian securities regulatory authorities available at www.sedar.com.