Comprehensive Healthcare Systems Inc. Announces Shares for Debt Settlement
Comprehensive Healthcare Systems (TSXV: CHS), a healthcare benefits administration software and services provider, has announced a significant debt settlement plan. The company aims to settle approximately $832,042 in debt through the issuance of up to 5,546,946 post-consolidation common shares at a deemed price of $0.15 per share.
The plan is contingent upon a 20:1 share consolidation, which requires shareholder approval at the upcoming annual and special general meeting scheduled for February 18, 2025. The meeting will be adjourned to February 25, 2025, to allow shareholders additional time for proxy submissions. Both the consolidation and debt settlement require TSX Venture Exchange approval, and issued securities will have a four-month and one-day statutory hold period.
Comprehensive Healthcare Systems (TSXV: CHS), un fornitore di software e servizi per l'amministrazione dei benefici sanitari, ha annunciato un piano significativo di risoluzione del debito. L'azienda mira a risolvere circa $832,042 in debito attraverso l'emissione di fino a 5,546,946 azioni ordinarie post-consolidamento a un prezzo presunto di $0,15 per azione.
Il piano è subordinato a un consolidamento azionario 20:1, che richiede l'approvazione degli azionisti nell'imminente assemblea generale annuale e straordinaria programmata per il 18 febbraio 2025. L'assemblea sarà rinviata al 25 febbraio 2025, per consentire agli azionisti ulteriore tempo per la presentazione delle deleghe. Sia il consolidamento che la risoluzione del debito richiedono l'approvazione della Borsa di Toronto Venture Exchange e i titoli emessi avranno un periodo di blocco legale di quattro mesi e un giorno.
Comprehensive Healthcare Systems (TSXV: CHS), un proveedor de software y servicios para la administración de beneficios de salud, ha anunciado un plan significativo de liquidación de deuda. La empresa busca liquidar aproximadamente $832,042 en deuda a través de la emisión de hasta 5,546,946 acciones ordinarias post-consolidación a un precio estipulado de $0.15 por acción.
El plan está sujeto a un consolidación de acciones 20:1, que requiere la aprobación de los accionistas en la próxima reunión general anual y especial programada para el 18 de febrero de 2025. La reunión se pospondrá hasta el 25 de febrero de 2025, para permitir a los accionistas un tiempo adicional para la presentación de poderes. Tanto la consolidación como la liquidación de deuda requieren la aprobación de la Bolsa de Valores de Toronto Venture Exchange, y los valores emitidos tendrán un período de bloqueo legal de cuatro meses y un día.
Comprehensive Healthcare Systems (TSXV: CHS), 의료 혜택 관리 소프트웨어 및 서비스 제공업체,는 중요한 부채 해결 계획을 발표했습니다. 이 회사는 대략 $832,042의 부채를 정리하기 위해 최대 5,546,946개의 지분 통합 후 보통주를 주당 $0.15의 가격에 발행할 계획입니다.
이 계획은 20:1 주식 통합에 따라 진행되며, 이는 예정된 2025년 2월 18일의 연례 및 특별 총회에서 주주 승인을 요구합니다. 총회는 주주들이 위임장을 제출할 수 있는 추가 시간을 허용하기 위해 2025년 2월 25일로 연기됩니다. 주식 통합과 부채 해결 모두 TSX 벤처 거래소의 승인이 필요하며, 발행된 증권은 4개월과 1일의 법적 보유 기간이 있습니다.
Comprehensive Healthcare Systems (TSXV: CHS), un fournisseur de logiciels et de services d'administration des prestations de santé, a annoncé un plan important de règlement de dettes. L'entreprise vise à régler environ $832,042 de dettes par l'émission de jusqu'à 5,546,946 actions ordinaires après consolidation à un prix considéré de $0,15 par action.
Ce plan dépend d'une consolidation d'actions 20:1, qui nécessite l'approbation des actionnaires lors de la prochaine assemblée générale annuelle et extraordinaire prévue pour le 18 février 2025. L'assemblée sera reportée au 25 février 2025, afin de donner aux actionnaires un temps supplémentaire pour soumettre leurs procurations. Tant la consolidation que le règlement de la dette nécessitent l'approbation de la Bourse de Toronto Venture Exchange, et les titres émis seront soumis à une période de blocage légale de quatre mois et un jour.
Comprehensive Healthcare Systems (TSXV: CHS), ein Anbieter von Software und Dienstleistungen zur Verwaltung von Gesundheitsleistungen, hat einen bedeutenden Schuldenbereinigungsplan angekündigt. Das Unternehmen beabsichtigt, etwa $832,042 an Schulden durch die Ausgabe von bis zu 5,546,946 nach der Konsolidierung ausgegebenen Stammaktien zu einem festgelegten Preis von $0,15 pro Aktie zu begleichen.
Der Plan hängt von einer 20:1 Aktienkonsolidierung ab, die die Zustimmung der Aktionäre auf der bevorstehenden ordentlichen und besonderen Hauptversammlung, die für den 18. Februar 2025 geplant ist, erfordert. Die Sitzung wird auf den 25. Februar 2025 verschoben, um den Aktionären zusätzliche Zeit für die Einreichung von Vollmachten zu gewähren. Sowohl die Konsolidierung als auch die Schuldenbereinigung erfordern die Genehmigung der TSX Venture Exchange, und die ausgegebenen Wertpapiere unterliegen einer gesetzlichen Haltedauer von vier Monaten und einem Tag.
- Debt reduction of $832,042 through share issuance, improving balance sheet without cash expenditure
- Significant shareholder dilution through issuance of 5,546,946 new shares
- 20:1 share consolidation indicates potential share price concerns
- Large debt settlement suggests financial difficulties
Calgary, Alberta--(Newsfile Corp. - January 23, 2025) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the "Company" or "CHS"), an industry leader in healthcare benefits administration software and services, announces that the Company has agreed with certain creditors to, subject to the completion of a 20 old for 1 new consolidation of the common shares of the Company, settle an aggregate of approximately
Approval for the consolidation, among other matters, will be sought at the Company's annual and special general meeting scheduled to be held on February 18, 2025. The Company plans to immediately adjourn the meeting for an additional seven days, to February 25, 2025, to ensure that shareholders have additional time to receive the meeting materials and submit proxies
The consolidation and the Debt Settlement remain subject to the receipt of all necessary shareholder and TSX Venture Exchange approvals, as the case may be. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction-capable systems. The Company's state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration(HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.
FORWARD-LOOKING INFORMATION:
The press release contains "forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "budget", "believe", "project", "estimate", "expect", "scheduled", "forecast", "strategy", "future", "likely", "may", "to be", "could", "would", "should", "will" and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Additionally, there are known and unknown risk factors that could cause the Company's actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and globally; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
COMPREHENSIVE HEALTHCARE SYSTEMS INC.
Chris Cosgrove, Chief Executive Officer
E-mail: chris.cosgrove@comphealthcare.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238274
FAQ
What is the total debt being settled by CHS through share issuance?
What is the share consolidation ratio proposed by CHS?
How many new shares will CHS issue for the debt settlement?
When is the CHS shareholder meeting for approving the consolidation?
What is the hold period for the new shares issued in the debt settlement?
