TORONTO, May 1, 2023
/CNW/ - Think Research Corporation (TSXV: THNK) ("TRC" or
the "Company"), a company focused on transforming healthcare
through digital health software solutions, is pleased to announce
that it has entered into an agreement with an arm's length third
party pursuant to which the Company has agreed to issue
C$100,000 in common shares in the
capital of TRC ("TRC Shares") at a per-share price of
$0.3814, which is equal to the 10-day
volume-weighted average price of TRC Shares on the TSX Venture
Exchange (the "TSXV"). The total number of shares to
be issued is 262,192. The Company may issue up to C$450,000 in additional TRC Shares in equal
quarterly instalments over a two-year period, at a per-share price
equal to the 10-day volume-weighted average price of TRC Shares on
the TSXV on the relevant payment date. The Company may elect to pay
any portion of the C$450,000 in cash,
in its discretion. The TRC Shares will be issued in order to
resolve a contractual dispute dating back to 2019, which the
Company believes is in its best interest to settle. As part
of such settlement, the parties have exchanged mutual full and
final releases, and the counterparty has provided the Company with
a voting support agreement. The shares for debt settlement remains
subject to approval by the TSXV. The TRC Shares issued pursuant to
the shares for debt settlement will be subject to a four month hold
period which will expire on the date that is four months and one
day from the date of issuance.
![Think Research Corporation Logo (CNW Group/Think Research Corporation) Think Research Corporation Logo (CNW Group/Think Research Corporation)](https://mma.prnewswire.com/media/2067247/Think_Research_Corporation_Think_Research_Announces_Shares_for_D.jpg)
About Think Research Corporation
Think Research Corporation is an industry leader in delivering
knowledge-based digital health software solutions. The Company's
focused mission is to organize the world's health knowledge so
everyone gets the best care. Its evidence-based healthcare
technology solutions support the clinical decision-making process
and standardization of care to facilitate better health care
outcomes. The Company gathers, develops, and delivers
knowledge-based solutions globally to customers including
enterprise clients, hospitals, health regions, healthcare
professionals, and / or governments. The Company has gathered a
significant amount of data by building its repository of knowledge
through its network and group of companies.
Think licenses its solutions to over 14,200 facilities for over
320,000 primary care, acute care, and long-term care doctors,
nurses and pharmacists that rely on the content and data provided
by Think to support their practices. Millions of patients and
residents annually receive better care due to the essential data
that Think produces, manages and delivers.
In addition, the Company collects and manages pharmaceutical and
clinical trial data via its BioPharma Services subsidiary.
BioPharma Services is a leading provider of bioequivalence and
Phase 1 clinical research services to pharmaceutical companies
globally. Think's other services include a network of digital-first
primary care clinics and medical clinics that provide elective
surgery. Visit www.thinkresearch.com
Caution Regarding Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws. Forward-looking
information may be identified by statements including words such
as: "believe", "expect," "likely," "may," "to be," "could,",
"would," "should," "will" and similar references to future periods
or the negative or comparable terminology, as well as terms usually
used in the future and the conditional. Statements including
forward-looking information may include, without limitation,
statements regarding the receipt of TSXV approval and the number of
TRC Shares being issued for debt.
Forward-looking information reflects management's current
beliefs and is based on assumptions that may prove to be incorrect.
The Company considers these assumptions to be reasonable in the
circumstances. However, there can be no assurance that such
assumptions will reflect the actual outcome of such items or
factors. By its nature, forward-looking information involves known
and unknown risks, uncertainties, changes in circumstances and
other factors that are difficult to predict and many of which are
outside of the Company's control which may cause the Company's
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. The Company's actual results may
differ materially from those indicated in the forward-looking
information. Important factors that could cause actual results to
differ materially from those indicated in the forward-looking
information include, among others, the risk factors described under
the heading "Caution Regarding Forward Looking Information" in the
Company's Management's Discussion & Analysis for the year ended
December 31, 2022, which is available
on the Company's profile at www.sedar.com. The Company
has assumed that the risk factors referred to above will not cause
such forward-looking statements and information to differ
materially from actual results or events. The reader is cautioned
to consider these and other factors, uncertainties and potential
events carefully and not to put undue reliance on forward-looking
statements.
Other than as specifically required by applicable Canadian law,
the Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which such statement is made, whether as a result of new
information, future events or results, or otherwise.
Neither 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 or
accuracy of this release.
For more
information: https://www.thinkresearch.com/ca/investors/
SOURCE Think Research Corporation