Comprehensive Healthcare Systems, Inc. announced a non-brokered private placement of 20,000,000 units of at CAD 0.05 per unit for gross proceeds of up to CAD 1,000,000 on January 12, 2023. Each Unit will consist of one common share in the capital of the company and a transferable warrant. Each warrant will be exercisable for a period of 24 months from the date of issue of the warrant.

Each warrant will entitle the holder to purchase one share at a price of CAD 0.10 per warrant share for the first 12 months of the exercise period and at a price of CAD 0.15 per warrant share between 12 and 24 months of the exercise period. The company may, in the context of the market, increase the size of the transaction in accordance with policies of the TSX Venture Exchange. The transaction is expected to close on or around January 30, 2023, subject to adjustment at the discretion of the company and in accordance with the policies of the TSXV.

The The company may complete the transaction via the closing of multiple tranches. The closing of the transaction is subject to a number of conditions, including, without limitation, approval of the TSXV and receipt of all necessary corporate and regulatory approvals. The transaction will include participation from certain insiders and investors in provinces and/or territories of Canada as may be determined by the company and to certain subscribers in the United States and outside the United States.

The securities will be subject to a hold period which will expire four months and one day from the date of the applicable closing of the transaction.