PHA Premier Health of America Inc

Premier Health of America Inc. (TSXV: PHA) (“Premier Health” or the “Corporation”) announces today that it has entered into a revised agreement with Acumen Capital Finance Partners Limited (the "Underwriter") to increase the size of the previously announced bought deal financing. Pursuant to the amended terms, the Underwriter has agreed to purchase, on a bought deal basis, an aggregate of 6,200,000 common shares of Premier Health (the "Common Shares") at a price of $1.05 per Common Share (the "Offering Price") for aggregate gross proceeds to the Corporation of approximately $6.5 million (the "Offering"). 

The Corporation has granted the Underwriter an over-allotment option exercisable at any time up to 30 days following the closing of the Offering (the “Closing Date”), to purchase up to an additional 930,000 Common Shares at a price per Common Share equal to the Offering Price, to cover over-allotments, if any, and for market stabilization purposes. In the event that the over-allotment option is exercised in full, the gross proceeds of the Offering will be approximately $7.5 million.

The Corporation expects to use the net proceeds from the Offering to reduce indebtedness, fund future acquisitions as well as for general corporate purposes.

The offering of Common Shares will be completed by way of short form prospectus, qualifying the Common Shares for distribution in all of the provinces of and in the United States by way of private placement pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and outside of Canada and the United States on a private placement or equivalent basis.

The Closing Date is scheduled to occur on or about February 22, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities, and the satisfaction of other customary closing conditions.

About Premier Health

Premier Health is a leading Canadian Healthtech company that provides a comprehensive range of outsourced services solutions for healthcare needs to governments, corporations, and individuals. Premier Health uses its proprietary PSweb software platform to lead the healthcare services sector digital transformation to provide patients with faster, cheaper and more accessible care services.

For Further Information Please Contact:

Mr. Jean-Robert Pronovost Vice-President, Corporate DevelopmentPremier Health of America Inc. jrpronovost@premierhealth.ca / 1 800 231 9916

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Corporation’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Corporation assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. These factors and others are more fully discussed in the filings of the Corporation with Canadian securities regulatory authorities available at www.sedar.com.