/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
VAUGHAN, ON, Jan. 14, 2020 /CNW/ - Consolidated HCI Holdings
Corporation (NEX: CXA.H) (the "Company" or "HCI") is pleased to
announce that it has completed a private placement (the "Offering")
of unsecured promissory notes (the "Promissory Notes") for
aggregate gross proceeds of approximately C$345,000.
The purpose of this borrowing is to provide the Company with
sufficient working capital for general corporate purposes while
management and the board of directors decide on the future
direction of the Company.
The Promissory Notes bear interest at the annual rate of 4%,
with the principal amount and all accrued and unpaid interest being
due and payable on January 14,
2021.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities in the United States. The Promissory Note has not
been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available. All securities issued pursuant to the Offering are
subject to a statutory hold period expiring May 15, 2020.
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 and/or
accuracy of this release.
SOURCE Consolidated HCI Holdings Corporation