Mr. Hamed Shahbazi reports
WELL HEALTH SUBSIDIARY WELLSTAR CLOSES C$50 MILLION FINANCING TRANSACTION AHEAD OF PLANNED TSXV LISTING
Well Health Technologies Corp.'s subsidiary, Wellstar Technologies Corp., has closed a financing transaction for aggregate gross proceeds of $50-million, consisting of $36.2-million of gross proceeds for Wellstar pursuant to a treasury offering of subscription receipts and $13.8-million of gross proceeds for an existing shareholder through a secondary offering.
The financing was anchored by a large Canadian-bank-owned asset manager and included new institutional investors, alongside continued support from existing shareholders, including Well and certain members of Well and Wellstar management, board of directors and employees. Including the treasury offering, Wellstar financings have raised an aggregate of $162-million in the past 19 months, across treasury and secondary transactions, of which $148-million represents treasury proceeds to Wellstar, including a $62-million Wellstar financing completed in December, 2025, and a $50-Wellstar million financing completed in December, 2024.
Amir Javidan, chief executive officer of Wellstar, commented: "We are very grateful for the continued support from our investors, both new and existing, throughout this financing process. The response from investors reflects confidence in Wellstar's team, our growth strategy, our sustained combination of growth and profitability, and our category leadership in Canadian health care technology. We look forward to our trading debut on the TSX-V, which we expect in September."
The net proceeds available to Wellstar from the treasury offering will be released upon satisfaction of the escrow release conditions of the subscription receipts, which include the concurrent closing of the previously announced amalgamation of Wellstar and 1587818 B.C. Ltd., and will be used by Wellstar for potential future acquisitions, artificial-intelligence-related innovation, organic growth initiatives and general corporate purposes.
The transaction, and Wellstar's intended listing of the subordinate voting shares of the issuer resulting from the transaction on the TSX Venture Exchange, is expected to close on or about Sept. 16, 2026.
TD Securities Inc., RBC Capital Markets and Stifel Nicolaus Canada Inc. are acting as lead agents, on behalf of a syndicate of agents, in connection with the treasury offering. Further details of the transaction and the terms of the subscription receipts can be found in Well's July 7, 2026, press release entitled "Well Health Announces Proposed TSX-V Listing and Concurrent Financing for Wellstar, One of Canada's Leading Healthcare Software and AI Platforms."
About Well Health Technologies Corp.
Well is Canada's largest outpatient health care company and a leading provider of technology-enabled health care solutions. Well is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI and every piece of health data is protected. Well owns and operates approximately 270 clinics in Canada, supporting more than five million annual patient visits. Through its subsidiary Wellstar, Well provides electronic medical records, AI-powered clinical tools, patient engagement platforms and information technology management services. Well provides cybersecurity services through its Cyberwell subsidiary. Well is publicly traded on the Toronto Stock Exchange under the symbol WELL and on the OTC exchange under the symbol WHTCF.
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