HONG
KONG, Oct. 15, 2024 /CNW/ - Ms. CHAU Hoi Shuen
Solina Holly (the "Acquiror"), announces the filing of
an early warning report in connection with the indirect acquisition
of 18,667,421 common shares ("Shares") in the capital of
WELL Health Technologies Corp. ("WELL") (TSX: WELL).
The Acquiror indirectly purchased from a shareholder of WELL, by
way of a private share purchase agreement, 18,667,421 Shares at a
price of CAD$4.34 per share
representing a total purchase price of USD$60,171,034.12 (the "Transaction").
Prior to the Transaction, the Acquiror indirectly owned, or
exercised control or direction over, 17,508,146 Shares of WELL,
representing approximately 7% of the outstanding Shares (based upon
248,970,428 issued and outstanding Shares as at August 13, 2024). Following the
Transaction, the Acquiror indirectly owns, or exercises control or
direction over 36,175,567 Shares, representing approximately 14.53%
of the issued and outstanding Shares (based upon 248,970,428 issued
and outstanding Shares of WELL as at August
13, 2024).
At this time the Acquiror does not have any plans that would
result in any of the following: (a) the acquisition of additional
securities of WELL, or the disposition of securities of WELL; (b) a
corporate transaction, such as a merger, reorganization or
liquidation, involving WELL or any of its subsidiaries; (c) a sale
or transfer of a material amount of the assets of WELL or any of
its subsidiaries; (d) a change in the board of directors or
management of WELL, including any plans or intentions to change the
number or term of directors or to fill any existing vacancy on the
board; (e) a material change in the present capitalization or
dividend policy of WELL; (f) a material change in WELL's business
or corporate structure; (g) a change in WELL's charter, bylaws or
similar instruments or another action which might impede the
acquisition of control of WELL by any person or company; (h) a
class of securities of WELL being delisted from, or ceasing to be
authorized to be quoted on, a marketplace; (i) WELL ceasing to be a
reporting issuer in any jurisdiction of Canada; (j) a solicitation
of proxies from securityholders; or an action similar to any of
those enumerated above.
The Shares were acquired for investment purposes. Subject to
various factors including market conditions, the Acquiror's
determinations from time to time as to whether the trading price of
the Shares adequately reflects the value of the Shares in relation
to WELL's activities and future prospects, and other factors and
conditions the Acquiror deems appropriate, the Acquiror (or an
affiliate or associate thereof) may acquire additional Shares or
may dispose of any or all of its Shares, from time to time through,
among other things, the purchase or sale of Shares on the open
market or in private transactions or otherwise, on such terms and
at such times as the Acquiror may deem advisable.
This press release is issued pursuant to National Instrument
62-103 – The Early Warning System and Related Take-Over Bid and
Insider Reporting Issues, which also requires a report to be
filed with regulatory authorities in each of the jurisdictions in
which WELL is a reporting issuer containing information with
respect to the foregoing matters (the "Early Warning
Report"). A copy of the Early Warning Report will appear with
WELL's filings on the System for Electronic Document Analysis and
Retrieval (SEDAR). WELL's registered and head office address
is located at Suite 550 375 Water St., Vancouver, British Columbia, V6B 5C6
Canada.
The TSX have not reviewed and do not accept responsibility
for the adequacy or accuracy of the contents of this news
release , which has been prepared by the
Acquiror.
SOURCE CHAU Hoi Shuen Solina Holly