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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters Stock Report

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Patient Home Monitoring Corp Closes $798,244 Financing-Canada Stockwatch

Wednesday, 19 Jun 2013 08:00pm EDT 

Canada Stockwatch reported that Patient Home Monitoring Corp as raised additional capital to fuel growth in the pharmacy channel and secure the rights to a lower cost meter and testing supplies. While PHM's board of directors authorized an equity financing in late May, 2013, of up to $1.5-million to finance these investment opportunities, PHM projects that these opportunities will require only $750,000 to complete. Therefore, PHM announced that it limited the equity issuance to $798,244. The net proceeds of just over $750,000 will be used by PHM to fuel revenue growth, secure rights to a lower cost meter and testing supplies, and for general corporate purposes and working capital. The non-brokered private placement financing was completed by issuing 9,978,050 common share units at a price of $0.08 per unit for gross proceeds of $798,244. Each unit consists of one common share in the capital of PHM and one-half of one common share purchase warrant of PHM. Each whole warrant entitles the holder thereof to acquire one common share at an exercise price of $0.12 per common share up to the date that is the one year anniversary of closing, and at a price of $0.16 per common share from the day after the one-year anniversary of closing until the two-year anniversary of closing. Receiving brokers included Caldwell Securities Ltd., Canaccord Genuity Corp., Leede Financial Markets Inc., Raymond James Ltd., Dundee Securities Ltd. and Navigator Capital Partners Inc. 

Company Quote

-0.0050 -1.33%
21 Aug 2014