NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
VANCOUVER, BC / ACCESSWIRE / June 16, 2020 / EGF THERAMED HEALTH CORP. (TMED) (EVAHF) (AUHP.F) (the "Company") reports that it has closed an initial tranche of its financing previously announced May 22, 2020 and amended June 10, 2020.
The Company has closed on 1,673,258 units of a non-brokered private placement at a price of $0.75 per unit for total consideration of $1,254,943.50. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share of the Company at a price of $1.50 for a period of 24 months from the closing of the offering. All securities issued in the offering are subject to a hold period expiring on October 17, 2020.
The Company intends to complete further tranches of the private placement to raise up to a total of CAD$2,000,000. The Company reserves the right to raise up to an additional $2,000,000 on the same terms. The proceeds of the private placement will be used primarily to continue the development of the Company's business, including its recently announced joint ventures with Pharmadelic Labs Corp. and Green Parrot Labs Corp., for marketing and investor relations activity, and for general working capital purposes.
ABOUT EGF THERAMED HEALTH CORP.
(CSE:TMED / OTC:EVAHF / FRANKFURT: AUHP)
EGF Theramed is a consumer technology company engaged in the provision of biomedical online services for monitoring and treating common health problems. The Company, through its subsidiaries, has assets and technologies used in the extraction and purification of botanical extracts and the creation of extract formulations, as well as medical monitoring device technology. The Company is working to collaborate with other companies for medical technology, equipment protocols and laboratory standard operating procedures. Through the Company's recent joint venture acquisitions, it has begun to research psilocybin and psychedelic extraction and processing for commercialization.
FOR MORE INFORMATION PLEASE CONTACT:
EGF THERAMED HEALTH CORP.
Telephone: (778) 331 8505
CSE Micro-site: http://thecse.com/en/listings/technology/Theramed-Health-Corporation
US OTC Markets (OTCQB): http://www.otcmarkets.com/stock/EVAHF/news
Frankfurt Borse: https://www.boerse-frankfurt.de/equity/egf-theramed-health-corp
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the Company's intent to complete further tranches of the non-brokered private placement to raise up to CAD$2,000,000 on the same terms. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
SOURCE: EGF Theramed Health Corp
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