Dr. Paula Muto reports
APPTLY ANNOUNCES $1,000,000 NON-BROKERED PRIVATE PLACEMENT
Apptly Health Technologies Corp. intends to complete a non-brokered private placement of up to eight million units of the company, at a price of 12.5 cents per unit, for aggregate gross proceeds of up to $1-million. The company reserves the right to increase the size of the offering in its sole discretion. The offering is not subject to a minimum subscription amount.
Each unit will consist of one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to acquire one share at any time for a period of 12 months following the closing date of the offering at a price of 25 cents per share, subject to acceleration. If, at any time following the closing date, the closing price of the shares on the Canadian Securities Exchange equals or exceeds 35 cents per share for 30 consecutive trading days, the company may accelerate the expiry date of the warrants by issuing a news release announcing that the warrants will expire 30 days following the date of such news release. Any warrants not exercised before the accelerated expiry date will expire and be of no further force or effect.
"Apptly has emerged as a leader in direct-pay health care, expanding beyond specialist visits to include outpatient surgical services -- all designed to meet the growing demand for affordable, accessible care and employer direct contracting," said Dr. Paula Muto, founder and interim chief executive officer. "What we're seeing now is the emergence of an entire marketplace around direct-pay care, and companies across this space are increasingly looking to join the Apptly umbrella. This financing gives us the opportunity to accelerate that momentum, bring more high-quality physicians and services into the marketplace, and build the infrastructure needed to make direct-pay health care a more accessible and scalable option for employers and patients."
It is expected that the net proceeds from the offering will be primarily used for general working capital purposes.
Any securities to be issued under the offering will be subject to a hold period of four months and one day from the closing date in accordance with applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.
About Apptly Health Technologies Corp.
Apptly operates UberDoc, a direct-pay health care marketplace that connects patients directly with board-certified specialists at transparent, upfront prices, with no referral requirements, no insurance barriers and no surprise bills. With more than 5,000 specialist physicians and clinicians across 55-plus specialties in all 50 states, the platform provides patients with faster access to care while enabling physicians to expand patient access and grow their practices. The company was founded by Dr. Muto, MD.
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