Convalo Health International, Corp. Announces Graduation to TSXV Tier 1
Announces Conference Call Thursday, June 25, 2015
(firmenpresse) - LOS ANGELES, CALIFORNIA -- (Marketwired) -- 06/18/15 -- Convalo Health International, Corp. ("Convalo") (TSX VENTURE: CXV), an acquisition-oriented company focused on rolling up the US addiction rehabilitation market, is pleased to announce that it has met the requirements for graduation from Tier 2 to become a Tier 1 issuer on the TSX Venture Exchange (the "TSXV") effective June 17th, 2015.
Convalo also announced it will hold a conference call next week on Thursday, June 25th, 2015 at 4p.m. EST.
Participants from Convalo will be Michael Dalsin (Chairman), Roger Greene (Vice Chairman) and Edward Brann (M&A Banker).
The details of the call are:
Thursday, June 25th, 2015 at 4 p.m. EST
US & Canada Toll Free:
Dial In: (855) 399-2673
Meeting ID Number: 699 03 142
Financial professionals are invited to call in and ask questions. To pre-register as a qualified caller, please e-mail by 5 p.m. EST Wednesday, June 24th, 2015.
"Convalo is growing much more quickly than we initially anticipated," said Michael Dalsin, CEO and Chairman of Convalo. "We have grown our business from about a $5 million annual revenue business with about $1 million in profit less than a year ago to a company with over $23 million in annual revenue and over $5.5 million in profit within the first 120 days of listing. I expect that in the next 12 months, we will continue to execute on our upgraded growth plan. As a result, we intend to move Convalo off of the Venture exchange and onto the Toronto Stock Exchange soon."
In accordance with the terms of two Form 2F CPC Escrow Agreements and a Form 5D Escrow Agreement (Value Security), 5,764,625 common shares of Convalo held in escrow, 53% held by Chairman and CEO Michael Dalsin and Vice Chairman Roger Greene, will be released following the issuance of this news release, and 25% of the original common shares of Convalo held in escrow will be released every six months after February 11, 2015, which is the date on which the TSXV issued its final notice of acceptance of Convalo's Qualifying Transaction.
About Convalo
Convalo is an acquisition-oriented company focused on rolling up the US outpatient addiction rehabilitation market led by seasoned management with experience in both US healthcare acquisitions and healthcare service asset management. In May 2014, Convalo made its first acquisition of a small, local addiction rehabilitation center in Los Angeles. Since May, the business has operated under the brand name BLVD Centers () in a luxury Hollywood, California location. BLVD offers patients access to a wide range of services, including addictive and co-occurring disorders, helpful to the recovery process. In conjunction with the 12-Step approach, BLVD also offers supplemental insurance-reimbursed services catering to a variety of communities: gender specific, creatively-oriented, meditation/mindfulness, trauma and LGBT affirmative.
Forward Looking Statements
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Convalo and anticipated events or results, are assumptions based on beliefs of Convalo's senior management as well as information currently available to it. While these assumptions were considered reasonable by Convalo at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue acquisitions, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Convalo Health International, Corp.
Dennis Wilson
Corporate Affairs
Tel: (323) 844-1298
Email:
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Unternehmensinformation / Kurzprofil:
Datum: 18.06.2015 - 13:00 Uhr
Sprache: Deutsch
News-ID 401465
Anzahl Zeichen: 0
contact information:
Town:
LOS ANGELES, CALIFORNIA
Kategorie:
Healthcare
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