LifeSpeak Inc. announced that it expects to receive CAD 4.999996 million in funding
March 03, 2024
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LifeSpeak Inc entered into definitive subscription agreements for a non-brokered private placement of 8,224,896 common shares at a price of CAD 0.60791 per Common Share for aggregate gross proceeds of CAD 4,999,996.52736 on March 4, 2024. The transaction included participation from returning investor, Beedie Investments Ltd, directors and officers- Michael Held, Nolan Bederman, Jason Campana, Chad Deshler, Mario Di Pietro, Adam Goldberg, Anna Mittag, Sanjiv Samant, David Sciacca and Rajesh Uttamchandan. The transaction is subject to TSX to obtain an exemption from the shareholder approval requirements. The Private Placement is expected to close on or about March 8, 2024, subject to receipt of the necessary approvals of the TSX and the satisfaction or waiver of other customary closing conditions. Pursuant to applicable Canadian securities laws, the Common Shares will be subject to a hold period of four months and one day following the closing date.
On same date, the company issued 5,716,307 shares at issue price CAD 0.60791 per share for a gross proceeds CAD 3,475,000.18837 in its first tranche.
LifeSpeak Inc. is a software-as-a-service provider of digital mental, physical, and total wellbeing resources through the Companyâs software-as-a-service platforms, utilizing content developed by the Company. It provides a whole-person wellbeing solution for employers, health plans, and other organizations. The Companyâs portfolio of solutions includes LifeSpeak Mental Health & Resilience, LIFT session Fitness, ALAViDA Substance Use, Torchlight Parenting & Caregiving, and Wellbeats Wellness. The Companyâs solutions include digital mental health learning resources; physical wellbeing resources; caregiver support resources, and digital cognitive behavioral therapy (CBT) health solutions for substance use disorders (SUD). Its digital fitness platform, delivered through its Wellbeats and LIFT session brands, is designed to promote employeesâ physical health by offering an on-demand workout library, automated and live sessions in areas, including general fitness, mindfulness, and cardio.