Revitalist Announces Closing of Private Placement
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM, OTCQB: RVLWF) has successfully closed a non-brokered private placement, issuing 11,900,000 units at $0.05 each. This funding will expand its telemedicine platform across 28 states, aiming to assist over 50 million individuals with mental health issues, treatment-resistant pain, and palliative care needs. Of the total units, 9,500,000 were issued to settle debts totaling $475,000. The company plans to utilize $120,000 for general working capital and launching its physician-led telemedicine services.
CEO Kathryn Walker emphasizes the urgency in addressing the escalating mental health crisis through increased access to necessary care.
- Successful closing of a non-brokered private placement, raising funds for expansion.
- Aims to serve over 50 million individuals with mental health and pain conditions.
- Plans to roll out its telemedicine platform across 28 states.
- 9,500,000 units issued to settle debts indicating financial strain.
Pursuant to the private placement, the Company has issued 11,900,000 units (the “Units”) at a subscription price of
Of the 11,900,000 Units issued, 9,500,000 Units were issued in settlement of debt in the aggregate amount of
Revitalist CEO,
The Revitalist Telemedicine platform allows clients to receive monthly appointments at a cost of
States receiving access to this program are expected to include
Appointments may be scheduled online through
Revitalist.com/HomeTherapy.
Certain individuals participating in the private placement are insiders of Revitalist and therefore the private placement may be considered to be a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Revitalist did not file a material change report for the private placement more than 21 days before the expected closing date of the private placement as the details of the insider participation were not settled until shortly prior to the closing. Revitalist is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. Revitalist is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the securities issued to insiders under the private placement is not more than the
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On Behalf of the Board
Chief Executive Officer
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. In particular, this news release contains forward looking statements pertaining to the expected use of proceeds from the private placement and Revitalist’s plans and expectations for its telemedicine platform, including the pricing, coverage and anticipated benefits of the platform. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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For further information:
Email: Info@Revitalist.com
Tel: (865) 585-8414
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