|By Marketwired .||
|June 24, 2014 09:32 AM EDT||
SCOTTSDALE, ARIZONA -- (Marketwired) -- 06/24/14 -- The Board of Directors of Certive Solutions Inc. (the "Company") (CSE:CBP) is pleased to announce a non-brokered private placement of $1,000,000 in convertible debentures with a minimum par value of $1,000 per debenture and a minimum subscription of $10,000. The debenture will be convertible at the option of the holder into shares of the Company at a price of $0.30 per share. Upon conversion the holder will receive one-half of one common share purchase warrant for each share held. One whole warrant entitles the purchaser to acquire one share at $0.60 for a period of two years from the closing date. The debenture will be for a term of 2 years and bear simple interest of 10% per annum in the first year payable semi-annually and 12% per annum in the second year payable semi-annually. The debenture will be secured against the assets of Certive with a PPSA registration in Canada and a UCC-1 registration in the United States.
The net proceeds will be used for the closing payment to Titan Health Management Solutions Inc., business development, investment in cloud technology and capital equipment to scale current operations, to pay for accounts receivable management on incremental business, and general working capital.
The Company intends to close the acquisition of the assets of Titan Health Management Solutions Inc. on June 27, 2014, concurrent with a first closing of the above referenced private placement.
ON BEHALF OF THE BOARD OF DIRECTORS OF CERTIVE SOLUTIONS INC.
Van Potter, President, CEO, Director
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides cloud revenue cycle management solutions to U.S. hospitals, delivered collaboratively, utilizing proprietary workflow document management and analytics technologies tailored to healthcare business processes. Certive is currently focused on the denied claim segment of revenue cycle management. Certive's solutions enhance the efficiency and effectiveness of denied claims recovery in a revenue sharing relationship that improves hospital net operating results.
The forward-looking information contained in this press release is made as of the date of this press release and except as required by applicable law, the company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires the company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. Neither the company nor the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Certive Solutions Inc.
Chief Financial Officer