Vancouver, BC, June 22th, 2007 – HealthPricer.com a leader in comparison shopping for healthcare products, announces that it will conduct a non-brokered private placement offering to raise gross proceeds of up to C$1,000,000. Under the terms of the private placement, the Company will offer for sale a maximum of 5,000,000 Units (the “Units’) at C$0.20 per Unit.
Each unit will consist of one common share and one warrant. Each warrant will entitle the holder thereof to purchase one additional common share of HPC at a price of $0.25 for a period of two years from the closing. The exercise period can be reduced to 21 days in the event that the common shares are traded on the TSX Venture Exchange at a price of $0.60 or more for ten consecutive trading days.
All securities issued pursuant to the private placement are subject to a four month hold period. The private placement is subject to the acceptance of the TSX Venture Exchange.
The funds raised from the offering will be used for working capital.
About HealthPricer Interactive
HealthPricer Interactive Limited is a leader in online comparison shopping for consumer healthcare products and changes the way business is done online in favour of the consumer. Led by a team of e-commerce professionals, the Company has applied its proprietary technologies to meet the needs of North American consumers looking for easy access to a choice of products and merchants online. Covering 225,000 products from 88 merchants, HealthPricer is the most convenient way for consumers to search for and perform side-by-side price comparison of healthcare products based on price, brand and other health related attributes.