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Vancouver, British Columbia / TheNewswire / September 20, 2018: Radiant Health Care Inc. (the "Company" or "Radiant") announces that it has closed a non-brokered private placement (the "Offering"). A total of 4,390,000 common shares in the capital of the Company (each, a "Share") were issued under the Offering at a price of $0.10 per Share for gross proceeds of $439,000. The proceeds of the Offering will be used for general corporate and working capital purposes.
All Shares issued pursuant to the Offering were issued under applicable prospectus and registration exemptions and are subject to a hold period in Canada of four months and one day from the closing of the Offering.
A director of the Company, and a company controlled by a director of the Company, (the "Related Parties") invested an aggregate of $170,000 in the Offering pursuant to the terms described above. This constituted a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on Sections 5.5(b) and 5.7(1)(b) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, of MI 61-101, as at the time the transaction was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Offering, insofar as it involved the Related Parties, exceeded $2,500,000.
Radiant is a British Columbia based company focused on the healthcare sector. Currently, the principal business of the Company is the identification, evaluation, and acquisition of interests in healthcare assets and businesses, with a focus on the Canadian and emerging global medical cannabis sector.
On Behalf of the Board of Directors
Brett Walker
President & Chief Executive Officer
For further information, please contact:
Brett Walker
President & Chief Executive Officer (604) 366-7460
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans and expectations regarding the future, including, the intended use of proceeds from the Offering, and anticipated business plans and timing of future business activities of the Company. Often, but not always, forward-looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "schedules", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors including risks and uncertainties relating to the ability of the Company to, among other things, obtain any required governmental or regulatory approvals, permits, consents or authorizations required, including acceptance by a securities exchange of any planned future activities, complete its listing on a securities exchange as planned, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the cannabis or healthcare industry, may also adversely affect the future results or performance of the Company. Although the Company believes that the statements, beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations or intentions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company's Canadian continuous disclosure filings are available at www.sedar.com.
Readers are cautioned not to put undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
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