Helius Medical Technologies Announces Closing of CAD $330,738 Non-Brokered Private Placement
NEWTOWN, PA – July 17, 2015 – Helius Medical Technologies, Inc. (CSE: HSM; OTCQB: HSDT) (“Helius”, or the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “Financing”) raising gross proceeds of CAD $330,738 (approximately USD $270,375) by the issuance of 125,756 units (each a “Unit”) at a price of CAD $2.63 per Unit (USD $2.15 per Unit). Each Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of approximately CAD $3.67 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing.
The Company has agreed to pay a cash finder’s fee of CAD $19,844 (USD $16,223) in connection with this Financing, as well as issued 7,545 finder’s warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of CAD $2.63 per share (USD $2.15 per share) for a period of sixty (60) months from the closing date of the Financing.
All securities issued in this Financing are subject to a statutory hold period expiring on November 18, 2015.
The Financing will provide further funding for the development of the PoNSTM technology and for general corporate purposes.
About Helius Medical Technologies (HMT)
Helius Medical Technologies is a medical technology company focused on neurological wellness. The company’s mission is to develop, license and acquire non-invasive treatments designed to help patients affected by neurological symptoms caused by disease or trauma. For more information, please visit www.heliusmedical.com.
Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include risks detailed from time to time in the filings made by the Company with securities regulators
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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