Toronto, Canada, November 10, 2022 – ScreenPro Security Inc. (CSE: SCRN, OTCQB: SCRSF) (“ScreenPro” or the “Company”) is pleased to announce a non-brokered private placement financing of up to 20 million units of the Company (“Units”) at a price of $0.05 per Unit (the “Private Placement”).
Each Unit will consist of one (1) common share of the Company (“Share”) and one (1) common share purchase warrant (“Warrant”). Each warrant will entitle the holder thereof to acquire one Share of the Company at a price of $0.05 per Share for a period of eighteen (18) months from the date of issuance.
The gross proceeds of the Private Placement will be used for general working capital, growth, expansion, and general corporate purposes.
Connection with the Private Placement, the Corporation may pay finders’ fees equal to up 4% cash of the aggregate proceeds raised in the Private Placement.
The Private Placement is expected to close on or about November 17, 2022.
The closing of the Private Placement is subject to certain conditions including, but not limited to, the approval of the Canadian Securities Exchange (the “CSE”).
All securities that are issued pursuant to the Private Placement will be subject to a hold period of four (4) months and one (1) day in accordance with applicable Canadian Securities laws.
Founded in 2020, ScreenPro Security is a health and wellness management company that delivers professional health and medical solutions to Canadians. With a focus on concierge medical services, ScreenPro Security offers personalized health care services such as IV vitamin therapy, personal home care, nurse care, on-call urgent medical care, nutrition, and health screening services, such as COVID-19 testing. Our team of board-certified physicians and health care professionals bring years of expertise to provide knowledgeable and trustworthy solutions to improve patients’ overall health outcomes.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: (416) 901-5611 x 204
Andrew Ryu, Chief Executive Officer and Chairman
Tel: 416-901-5611 x 201
Forward Looking Statements:
Certain statements contained in this news release may constitute forward looking information, including statements relating to the future development of ScreenPro's business. Forward looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward looking information should not be unduly relied upon. Any forward looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.