Mednow Announces Filing of Final Prospectus for up to $35,000,000 Initial Public Offering Led by Gravitas Securities, Eight Capital and Stifel GMP

Mednow Announces Filing of Final Prospectus for up to $35,000,000 Initial Public Offering Led by Gravitas Securities, Eight Capital and Stifel GMP




Mednow Announces Filing of Final Prospectus for up to $35,000,000 Initial Public Offering Led by Gravitas Securities, Eight Capital and Stifel GMP

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia–(BUSINESS WIRE)–Mednow Inc. (“Mednow” or the “Company”) is pleased to announce that it has filed and obtained a receipt for a final prospectus with the securities regulatory authorities in the provinces of Alberta, British Columbia, Saskatchewan, Manitoba, and Ontario (the “Selling Jurisdictions”), in connection with its initial public offering (“IPO”) of a minimum of 3,703,703 and up to 5,185,185 units (the “Units”) at a price of $6.75 per Unit (“Offering Price”) for total gross proceeds of a minimum of $25,000,000 and up to a maximum of $35,000,000. Each Unit consists of one Class A common share (each a, “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant a, “Warrant”). Each Warrant entitles its holder to purchase one Common Share at a price of $8.50 for a period of 24 months following the closing of the IPO.

The closing of the IPO and the listing of the Common Shares of Mednow on the TSX Venture Exchange (“TSXV”), under the trading symbol “MNOW” has been conditionally approved, subject to fulfilling customary TSXV listing requirements.

The syndicate is led by Gravitas Securities Inc., Eight Capital and Stifel Nicolaus Canada Inc. and includes Canaccord Genuity Corp. and Raymond James Ltd. (collectively, the “Agents”).

In connection with the IPO, the Company has also granted the Agents an option (the “Over-Allotment Option”), exercisable in whole or in part, for a period of 30 days following the IPO’s closing date, to sell up to an additional 740,740 Units at the Offering Price, to cover over-allotments, if any, and for market stabilization purposes. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the IPO will be $40,000,000.

The net proceeds from the IPO will be used to fund its technology development, client acquisition efforts and for general corporate purposes.

A copy of the final prospectus can be viewed on SEDAR (www.sedar.com).

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

These securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States.

About Mednow.ca

Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual care with convenience and through an interdisciplinary approach to healthcare that is focused on the patient experience. Pharmacy services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, as well as access to telemedicine virtual care.

To learn more visit: www.mednow.ca

Contacts

Investor Relations Contact:
Marc Charbin

marc.charbin@loderockadvisors.com
416.467.5229

Media Contact:
Jalila Singerff

Jive PR + Digital

www.jiveprdigital.com
jalila@jiveprdigital.com
613.614.6777