ALTERNATE HEALTH ANNOUNCES CLOSING FINAL TRANCHE OF PRIVATE PLACEMENT AND CHANGE IN OFFICER POSITIONS
SAN ANTONIO, TX. October 12, 2018 – Alternate Health Corp. (“Alternate Health” or the “Company”) (CSE:AHG) (OTCQB:AHGIF), an international leader in software solutions for the medical cannabis industry, is pleased to announce that it has closed the final tranche of a non-brokered private placement of 909,091 common shares at a price of CAD$0.43 (USD$0.33) per common share for aggregate gross proceeds of US$300,000. The first tranche in the amount of US$585,000 (1,772,726 shares) closed on August 28, 2018. The common shares are subject to a four month and one day hold period in accordance with Canadian securities laws.
“We are extremely pleased to have completed this private placement which will facilitate important expansion opportunities in our product distribution and CBD marketing businesses supported by our blockchain enabled payment software”, says Dr. Murphy, CEO of Alternate Health.
In addition to funding expansion opportunities in product distribution and CBD marketing, private placement proceeds will be used in Alternate Health’s CanaPass marketing and for general working capital purposes.
APPOINTMENT OF OFFICER
The Company wishes to announce the appointment of Stephen Bugbee as SVP, Technology. Stephen Bugbee is a technology consultant who specializes in sales, marketing, business development, management and operations in the technology sector. His proven track record in taking companies to profitability is second to none. Stephen initially worked with many large brands in the entertainment space at the inception of the Internet assisting companies like Carsey Werner, King World and the Coca Cola Company to embrace early rich media technologies. This was followed by helping Digital Island acquire Software, Sandpiper Networks and Exodus prior to preparing the company for the Cable and Wireless acquisition. For the past 15+ years Stephen has helped many companies reach heightened profitability by utilizing his experience and skill-set to Director manage and drive revenue.
CESSATION OF OFFICER ROLE
The Company also wishes to announce that due to increasing commitments in other activities Ms. Jade Green is no longer serving in role of VP, Sales and Marketing of the Company. The Company would like to thank Jade for her assistance while serving as an Officer and looks forward to working with her in the future on a consultancy basis.
For more information about Alternate Health, visit www.alternatehealth.com.
