SCOTTSDALE, ARIZONA — (Marketwired) — 12/16/13 — Certive Solutions Inc. (“Certive”) (CNSX: CBP) is pleased to announce a non-brokered private placement of units (“Units”) at C$0.10 per Unit or 21,000,000 Units for gross proceeds totalling C$2,100,000. Each Unit consists of one common share and one half-share purchase warrant. Two half-share warrants entitle the purchaser to acquire one share at C$0.15 for a period of two years from the closing date.
Certive is also pleased to announce a non-brokered private placement of $400,000 in convertible debentures. The debenture will be convertible at the option of the holder into shares of Certive at a price of C$0.15 per share or 2,666,666 shares. The convertible debentures will be for a term of 5 years and bear simple interest calculated and paid annually at a rate of 5% per annum. The debenture will be unsecured, and interest may be paid in shares at the discretion of Certive, subject to regulatory approval.
Certive will offer a greenshoe option on both the private placement and the debenture aggregating 15% of the total value of both the private placement and the debenture.
The net proceeds are targeted for business development and technical development of software solutions for select sub-segments of the U.S. healthcare revenue lifecycle market. In particular, the Company is developing automated solutions for U.S. hospitals that will improve recovery of denied claims from insurance companies.
Van Potter, CEO, remarked that “Certive-s management and directors are focused on building a leading business process management software solutions enterprise serving the needs of the U.S. healthcare market including the revenue lifecycle segment. Denied claims are a significant and growing problem for US hospitals and represents an expanding and underserved opportunity for Certive.”
Certive will record first revenues in the quarter ended November 30, 2013 from services related to denied claims recovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF CERTIVE SOLUTIONS INC.
Van Potter, President and CEO
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides unique cloud-based based business process management software solutions to select segments of the U.S. healthcare market designed to improve efficiency and leverage the new paradigm of enterprise apps.
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 Canadian National Stock Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian National Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Certive Solutions Inc.
Brian Cameron
Chief Financial Officer
602-865-9356
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