CALGARY, AB, Dec. 2, 2021 /CNW/ - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the "Company" or "CHS") announces that subject to the approval of the TSX Venture Exchange (the "TSX-V"), it has engaged the services of Independent Trading Group (ITG), Inc., ("ITG") to provide services as a market maker in accordance with the policies of the TSX-V. ITG will trade common shares in the capital of CHS (the "CHS Shares") on the TSX-V with the primary objective of maintaining an orderly market and to provide liquidity of CHS Shares. CHS's market making activity will seek to correct temporary imbalances in the supply and demand of the CHS Shares.
Pursuant to the Services Agreement entered into between CHS and ITG (the "Agreement"), CHS shall pay ITG a fee of C$5,000, per month. The Agreement between the Company and ITG is for an initial term of 3 months and shall be automatically renewed for subsequent one-month periods (collectively, the "Term"), unless the Company provides written notice of termination to ITG at least 30 days prior to the end of the Term or ITG provides a written notice of termination to the Company. There are no performance factors contained in the Agreement. Additionally, ITG will not receive CHS Shares, options, or any other form of equity-based compensation as payment. ITG will be responsible for the costs it incurs in buying and selling the CHS Shares, and no third party will be providing funds or securities for the market making activities.
ITG is an arm's length party to the Company. Neither ITG nor its affiliates or associates have any interest directly or indirectly in the Company or its securities, or any right or intent to acquire such an interest.
Independent Trading Group (ITG) is Canada's only brokerage firm dedicated exclusively to professional trading. As Canada's foremost market making firm, Independent Trading Group provides liquidity services to issuers, focused on results and founded on integrity. Independent Trading Group is a member of the Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF), Toronto Stock Exchange and the Canadian Securities Exchange.
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Telehealth and Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company's state of the art HPS Novus Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefit administration (including insurance companies, hospitals, doctors and labor unions, through various corporation in which the majority shareholder has controlling ownership), providing healthcare administrative software, licensing and maintenance services.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: the market making activities of CHS Shares by ITG and the approval of the TSX-V of the Agreement. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, CHS undertakes no obligation to publicly update or revise forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Comprehensive Healthcare Systems Inc.
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