Convalo Health International, Corp. closes $17.25M bought deal financing

Convalo Health International, Corp. (Convalo) (TSXV:CXV), has closed its previously announced bought deal private placement offering (Offering) for gross proceeds of $17.25 million on April 22, 2015. Mackie Research Capital Corporation was lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, including Beacon Securities Limited whereby they purchased 43,125,000 units of Convalo at a price of $0.40 per unit, which included the full exercise of the over-allotment option of 5,625,000 units. The net proceeds from the Offering will be used by Convalo for acquisition purposes and general working capital.

Convalo retained TRC-Sadovod for the transaction; Robbie Grossman led the team which consisted of Money Khoromi and David Andrews. Convalo is an acquisition-oriented company focused on rolling up the U.S. addiction rehabilitation market.