VANCOUVER BC—(Marketwired – October 11, 2017) – Premier Health Group Inc (the “Company“) is pleased to announce the closing of the rights offering issued to shareholders April 17, 2017, resulting in the issuance of 207,000 shares at an exercise price of $1.00 per share for total consideration of $207,000. Proceeds will be used for working capital purposes. The Company is pleased to announce its multidisciplinary rehabilitation facility in Santiago Dominican Republic was unscathed by hurricane Irma and Maria and management expansion of the clinics is now in the planning stage. The Company has resolved issues with accounting delays and is proceeding to update its application to seek a listing.
The Company's prospectus was receipted February 10, 2017, and the rights offering was undertaken to add to working capital and broaden participation by current shareholders. The Company was experiencing delays in completing the audit of its Dominican Republic subsidiary for the year ended December 31, 2016, and was cease traded on May 5, 2017, three days before the May 8, 2017 expiry of the rights offering. The Company accepted rights exercised prior to the cease trade order, and subsequent to the rescission of the cease trade order on July 25, 2017, completed issuance of the shares for rights exercised. Management is satisfied after filing the quarter ended June 30, 2017, that statements will be prepared without delay to avoid deficiencies in its reporting and listing application requirements.
The Company's subsidiary, Premier Clinicas de Rehabilitacion, is a multidisciplinary rehabilitation facility based on the most current North American practices and methods. The clinic provides physiotherapy, massage therapy, return to work treatment and conditioning under the direct supervision of orthopedic surgeons, physiatrists and licensed rehabilitation specialists.
In 2016 the Clinica de Rehabilitation was awarded a 5 year certification from the Dominican Republic Dept. of Health on renewal of the previous 2 year certificate. This the highest health certification level given to a health clinic by the government.
With Premier's template fully proven, expansion of the clinics is now in the planning stage, which targets the opening of new clinics in 2018. PHG intends to be the first national private rehabilitation company in the Dominican Republic.
ON BEHALF OF THE BOARD OF DIRECTORS
Statements in this news release may be viewed as forward–looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward–looking statements and the company undertakes no obligation to update such statements. Such forward–looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control.