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Press Release

Agility Health Announces Closing of $150,000 in First Tranche of Non-Brokered Private Placement


Posted on: 16 Jul 18

HAMILTON, Ontario, July 16, 2018 (GLOBE NEWSWIRE) -- Agility Health, Inc. (TSXV:AHI) (“Agility Health” or the “Company”), a leading provider of orthotics, prosthetics and foot care services in Canada, is pleased to announce that it is undertaking a non-brokered private placement offering (the “Private Placement”) of a maximum of 30,000,000 units (“Units”) at a price of $0.05 per Unit, for gross proceeds up to a maximum of $1,500,000. Each Unit is comprised of one voting common share in the capital of the Company (a “Common Share”) and one half (1/2) of one Common Share purchase warrant (a “Warrant”), and is exercisable until the earlier of July 12, 2020 and the completion by the Company of a material transaction (as defined in the Warrant).  Each whole Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.075. The Company completed today the first tranche of the Private Placement through the issuance of 3,000,000 Units for total gross proceeds of $150,000. It is anticipated that the Company will complete the remainder of the Private Placement in one or more tranches in the coming weeks.

In connection with the Private Placement, the Company has entered into a finder’s fee agreement with EMD Financial Inc. (“EMD”) pursuant to which it will pay finder’s fees equal to 8% of the gross proceeds of Units purchased by investors procured through EMD (the “Finders’ Investors”) and will issue warrants to EMD equal to 8% of the Shares purchased by the Finders’ Investors (the “Finder’s Warrants”). Each Finder’s Warrant will be exercisable by the holder to acquire one additional voting common share of the Company for a period of 2 years from issuance at an exercise price of $0.05 per share.  In connection with the first tranche closing today, the Company paid a total of $10,400.00 in finder’s fees and issued 240,000 Finder’s Warrants.

All transactions referred to in the release are subject to regulatory approval, including approval of the TSX Venture Exchange. For further details, please contact the Company. All securities issued in connection with the Private Placement will be subject to a hold period of four months plus one day from the date of closing.

The net proceeds from the Private Placement will be used for general working capital purposes.

The securities offered pursuant to the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may be not be offered or sold in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Agility Health

Through its Canadian subsidiary and principal operating entity, Medic Holdings Corp., Agility Health operates eleven (11) foot care clinics in Ontario and Quebec and manufactures orthotics and prosthetics.

Forward-Looking Information

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.

This release includes forward-looking statements regarding Agility Health and its business. Such statements are based on the current expectations and views of future events of Agility Health’s management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release, including the anticipated future growth of Agility Health, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Agility Health undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information please contact:

Wayne Cockburn
Interim Chief Executive Officer
(905) 505-0770
Wayne@medicholdings.com

GlobeNewswire
globenewswire.com

Last updated on: 16/07/2018

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