DENVER, Nov.26, 2021 (GLOBE NEWSWIRE) – Assure Holdings Corp. (the “Society” Where “To assure”) (NASDAQ: IONM; TSXV: IOM), a provider of intraoperative neuromonitoring services, is pleased to announce that the Company intends to complete a non-middleman private placement, with the participation of the management of Assure, of the Board of Directors and certain employees and consultants, a maximum of 70,300 ordinary shares of the Company (“Ordinary actions“) at an issue price of US $ 6.19 per Common Share, for aggregate gross proceeds of approximately US $ 435,000 (the”Offer“). The issue price was determined in the context of the market and in accordance with Nasdaq listing requirements and after the end of the Company’s blackout period under its insider trading policy.
No warrants are expected to be issued in connection with the offering. No commission or charge should be paid in connection with the Offer.
The net proceeds of the Offering are expected to be used to honor the previously announced system-wide contract with Premier, Inc., expand the Company’s high-margin remote neurology services platform, expand the footprint operating the Company in new states and continue to build the infrastructure that supports the Company’s growth initiatives and general working capital purposes.
The offering remains subject to the approval of the TSX Venture Exchange (“TSXV“). This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and there will be no offer, solicitation or sale of any securities in any jurisdiction where such an offer, solicitation or sale would be illegal. before registration or qualification. under the securities laws of that jurisdiction.
The common shares to be issued in connection with the offering have not been registered under the US Securities Act or any state securities law of the United States and may not be offered or sold in the United States. no such registration or an available exemption from these registration requirements. The common shares to be issued as part of the offering will also be subject to a hold period of four months and one day from the date of issue in accordance with applicable Canadian securities laws, as well as holding periods. applicable under US securities laws.
The participation of the management of Assure and the board of directors in the Offer will be considered as a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101The related party transaction should be exempt from minority approval, information circular and formal assessment requirements in accordance with the exemptions contained in sections 5.5 (a) and 5.7 (1) (a) of the Regulations. 61-101, because neither the fair market value of the securities to be issued under the offering nor the consideration payable by insiders will exceed 25% of the market capitalization of the Company.
About Assure Holdings
Assure Holdings Corp. is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services supporting intraoperative neuromonitoring activities during invasive surgeries. Assure employs its own staff of technologists and uses its own state-of-the-art monitoring equipment, manages 100% of the planning and configuration of intraoperative neuromonitoring, and invoices all technical services provided. Assure Neuromonitoring is recognized as providing the highest standard of patient care in the industry and has won the Joint Commission Gold Seal of Approval®.
This press release may contain “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can generally be identified by the use of the words “anticipates”, “expects”, “intends to”, “plans”, “should”, “could”, “could”, “could”. , “Could”, “believes”, “believes”, “potential”, “target” or “continue” and variations or similar expressions. These statements are based on the current expectations and beliefs of management and are subject to certain risks and uncertainties which could cause actual results to differ materially from those described in forward-looking statements. These risks and uncertainties include, but are not limited to, the fact that the Company may not receive TSXV approval with respect to the Offering; the Company’s expectations regarding the use of the proceeds of the Offer; the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general, and the risks and uncertainties discussed in our latest annual and quarterly reports filed with the Securities and Exchange Commission of the United States, including our Annual Report on Form 10-K filed on March 30, 2021 and with the Canadian Securities Administrators and available on Company Profiles on EDGAR at www.sec.gov and SEDAR at www.sedar.com, the risks and uncertainties of which are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Assure does not intend and assumes no obligation to update forward-looking statements to reflect, in particular, new information or future events.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Scott Kozak, Investor and Media Relations
Assure Holdings Corp.
John Farlinger, Managing Director
Assure Holdings Corp.