Tickers: XCNQ:OSH
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Toronto, Ontario, Canada / TheNewswire / December 14, 2017 - Open Source Health Inc. (CSE:OSH), (Frankfurt:0OS), a cloud based precision health platform that puts control into the hands of women to educate, advocate and collaborate on their own healthcare is pleased to announce that it intends to complete a non-brokered private placement of units ("Units") at a price of $0.02 per Unit for gross proceeds of up to $1,300,000 (the "Offering"). Each Unit is comprised of one common share of the Company (each a "Common Share") and one common share purchase warrant of the Company (each a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share for a period of two (2) years after the closing date of the Offering at a price of $0.05 per Common Share.
A portion or all of the Offering may be completed pursuant to Multilateral CSA Notice 45-318 - Prospectus Exemption for Certain Distributions through an Investment Dealer ("CSA 45-318") and the corresponding blanket orders and rule implementing CSA 45- 318 in the participating jurisdictions in respect thereof (collectively with CSA 45-318, the "Investment Dealer Exemption"). As at the date hereof, the Investment Dealer Exemption is available in each of British Columbia, Alberta, Saskatchewan, Manitoba and New Brunswick. Pursuant to CSA 45-318, each subscriber relying on the Investment Dealer Exemption must obtain advice regarding the suitability of the investment from a registered investment dealer. In accordance with the requirements of CSA 45-318, there is no material fact or material change of the Company that has not been disclosed.
In addition to conducting the Offering pursuant to the Investment Dealer Exemption, the Offering will also be conducted pursuant to other available prospectus exemptions.
The Company is also pleased to announce the appointment of Mr. George Tsafalas to the board of directors of the Company. Mr. Tsafalas has been a Senior Executive, Chief Financial Officer, Executive Member of the Board of Director's and Chair of the Audit Committee of several companies.
About Open Source Health Inc.:
Open Source Health takes a truly patient-centered approach and is in the business of providing a cloud based, real-time precision medicine platform to Clinics and Practices that focus on Women's Health. Open Source Health Inc. is leading the digital transformation of healthcare by leveraging the latest trends in digital health, precision medicine, molecular medicine, integrated and personalized health, social health and participatory medicine. This is medicine for the 21st century.
For more information, visit www.opensourcehealth.com
Contact:
For further information, please contact Investor Relations at Open Source Health Inc.
http://www.opensourcehealth.com/contact-new/
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Open Source Health Inc. ("OSH"), including, but not limited to, the impact of general economic conditions, industry conditions and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and OSH does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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