VANCOUVER, BC / TheNewswire / November 14, 2017 – HealthSpace Data Systems Ltd. (“HealthSpace”) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement of 15,150,000 units at a price of $0.05 per unit for gross proceeds of $757,500 (both tranches combined had gross proceeds of $850,000).

 

Each unit consists of one common share and one transferable share purchase warrant.  Each whole warrant will entitle the holder to acquire one additional common share exercisable for a period of twenty-four months following the closing of the private placement at a price of CAD $0.05 per warrant share.  The securities will be subject to a four month and one day hold period under securities laws.

 

Finder’s fees totaling $23,450 were paid on the financing and 469,000 broker warrants, at a price of $0.05 for a period of two years were issued.

 

The Company intends to use the net proceeds from the private placement for general working capital, to support marketing efforts for new commercial enterprise markets, such as restaurants, hospitality, hotels and cannabis production & distribution, product development including programing, testing and rollout, integrating and adapting the company’s existing technology to include a modular blockchain platform and implementing transactional level blockchain technology inside the company's existing mobile inspection platform.

 

Ali Hakimzadeh, Chairman, commented: “We are pleased to complete this oversubscribed financing. HealthSpace is well positioned for significant growth in the coming year. We are very excited to commence the expansion of our existing technology by integrating and adapting our product suite to include blockchain technologies which the company believes will significantly expand the current market opportunities.”

 

HealthSpace Data Systems Ltd.

 

HealthSpace is an industry leading technology company currently providing inspection, information, communication and data management systems for federal, state, county and municipal governments. Over the last decade, HealthSpace has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. HealthSpace currently offers the only integrated inspection, administration and analytics product suite across all platforms in North America. Further, HealthSpace now delivers its government grade technologies to private businesses enabling them to gain visibility and predictability into their own organizations and move from a reactive to a proactive operational status. HealthSpace continues to deliver focused service and innovative solutions to government organizations, while expanding into commercial enterprise verticals to enable new customers with proactive environmental health best practices and policies.

    

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

For more information please contact:

 

Ali Hakimzadeh

Chairman

604-306-5720

ali@sequoiapartners.ca