ALTERNATE HEALTH ANNOUNCES PRIVATE PLACEMENT OFFERING
AND WARRANT ISSUE
SAN ANTONIO, TX. October 31, 2018 – Alternate Health Corp. (“Alternate Health” or the “Company”) (CSE:AHG) (OTCQB:AHGIF), an international leader in software solutions for the medical cannabis industry, wishes to announce that it is undertaking a non-brokered private placement of Common Shares (“Shares") under prospectus exemptions available under applicable securities legislation and signing a financial advisory service agreement for warrant consideration.
Private Placement of Common Shares
The non-brokered private placement of Shares is for up to 13,750,000 common shares at a price of CAD$0.40 per Share for aggregate gross proceeds of up to CAD$5,500,000. The Company may pay finder’s fees as permitted by applicable securities laws and the policies of the CSE. The common shares will be subject to a four month and one day hold period in accordance with Canadian securities laws.
“We are very pleased to have the use of proceeds to facilitate important expansion opportunities in our product distribution and CBD marketing businesses supported by our blockchain-enabled payment software,” says Dr. Michael Murphy, Chairman and CEO of Alternate Health.
In addition to funding expansion opportunities in product distribution and CBD marketing, private placement proceeds will be used in expanding Alternate Health’s CanaPass/StatePass and for general working capital purposes.
Warrant issue
As of Oct 30, 2018, the Company is granting 1,000,000 common share purchase warrants (“Warrants”) to an independent arm’s length consultant for financial advisory services. Each warrant is exercisable at a price of $0.42 in four tranches of 250,000 warrants. The Warrants are exercisable for a period of 3 years from the date of issuance of each tranche. The first tranche Warrants will be issued on October 30, 2018, with the subsequent three tranches every 30 days. The warrants are subject to applicable hold periods under securities laws and the Company’s filings with the Canadian Securities Exchange and securities regulatory authorities.
