Invesque Closes 2nd Tranche of Preferred Offering and TSX Symbol Change to “IVQ”
TORONTO, ONTARIO, FEBRUARY 9, 2018 – Invesque Inc. (TSX: HLP.U) (the “Company” or “Invesque”) announced that effective at the opening of trading on Tuesday, February 13, 2018, its common shares and debentures will commence trading on the Toronto Stock Exchange (“TSX”) under the symbol “IVQ”. Additionally, the company announced today the closing of the second of three tranches of its previously announced private placement of class A convertible shares (“Investment”) to certain funds managed by Magnetar Financial LLC.
TSX SYMBOL CHANGE:
The Company applied for the ticker symbol change in connection with the change of its name from Mainstreet Health Investments Inc. to Invesque Inc. on January 3, 2018. The name change was approved by special resolution of the Company’s shareholders. No further action is required to be taken by the Company’s shareholders in connection with the ticker symbol change.
2ND TRANCHE PREFERRED EQUITY:
The second tranche of the Investment closed today resulting in the issuance of 3,172,086 class A series 2 convertible preferred shares for aggregate gross proceeds of US$30 million. The remaining tranche of US$15 million is anticipated to close before the end of Q2 2018. The proceeds from the Investment will be used for the repayment of debt, for general working capital purposes and to fund future acquisitions that have not yet been identified.
Invesque Inc. is a North American health care real estate company with a growing portfolio of high quality properties located in the United States and Canada and operated by best-in-class senior living and care operators primarily under long-term leases and joint ventures. The Company recently closed the acquisition of Care Investment Trust on February 1, 2018. Invesque's mission is to create long-term shareholder value while providing an investment opportunity that matters. For more information, visit www.invesque.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking information that reflects the current expectations of management about the future results and opportunities for the Company. Forward-looking statements generally can be identified by words such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, “project”, or “continue” or similar expressions suggesting future outcomes or events. More particularly and without limitation, this press release contains forward looking statements and information concerning the closing of the third tranche of the Investment. Such forward-looking statements reflect the Company’s current beliefs and are based on information currently available to management. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, the conditions to the closing of the third tranche of the Investment not being satisfied or waived. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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