Mednow Inc. ("Mednow" or the "Company"), Canada’s on-demand virtual pharmacy, is pleased to announce that its common shares will begin trading on the TSX Venture Exchange ("TSXV") under the symbol "MNOW" effective tomorrow, March 9, 2021. This follows the Company’s successful Initial Public Offering which raised gross proceeds of $37,073,193.75.
The Company is also pleased to announce that it has retained LodeRock Advisors Inc. ("LodeRock") to provide investor relations and consulting services to the Company in compliance with the policies and guidelines of the TSXV and other applicable legislation.
LodeRock is a Toronto-based group of senior capital markets communications executives who develop and execute communications programs in order to help companies achieve their capital markets objectives and capture the full potential of their public listing.
Under the Company’s agreement with LodeRock, which will continue until either party has terminated the agreement with sixty (60) days’ notice (subject to a minimum term of 6 months), the Company will pay LodeRock a monthly fee of $10,000 payable in cash for ongoing investor relations and consulting services, increasing to $12,000 per month on July 1, 2021. The Company has also issued to LodeRock 50,000 stock options ("Options"), each Option exercisable at a price of $1.75 to acquire one Class A common share of the Company until January 21, 2026. Other than the Options, neither LodeRock nor its principals have any direct or indirect interest in the Company’s securities. The engagement of LodeRock remains subject to the approval of the TSXV.
About Mednow Inc.
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.
On Behalf of the Board of Directors,
Chief Executive Officer
Neither 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 certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the expected date the Company’s shares will commence trading on the TSX Venture Exchange. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends," "anticipates," "it is expected," or variations of such words and phrases, or statements that certain actions, events or results "may," "could," "should," or "would" occur. Forward-looking statements are based on certain material assumptions and analyses made by management of the Company and the opinions and estimates of management of the Company as of the date of this press release, including that the Company’s shares will commence trading on the TSX Venture Exchange as expected by management. Although the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the transactions contemplated herein will not close on the terms and timeline as anticipated by the management of the Company, or at all and the other risks and uncertainties applicable to the Company and the business of the Company as set forth in the Company’s final long form prospectus dated February 26, 2021 and its other disclosure available under the Company’s profile at www.sedar.com. There can be no assurance that the transactions contemplated in this news release will complete. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations. We seek safe harbor.
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