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Share Name | Share Symbol | Market | Type |
---|---|---|---|
International Health Partners | TSXV:IHP | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
International Health Partners Inc. ("IHP") (TSX VENTURE:DOC) announced today that it is submitting for review to the TSX Venture Exchange a draft information circular with respect to a proposed Annual and Special Meeting (the"IC"), at which shareholders will be asked to approve (i) the sale of its five dental clinics to Altima Dental Canada Inc. ("Altima") for a purchase price of $956,000. In addition to the purchase price, Altima will convert $263,933 outstanding under an outstanding convertible debenture convertible at $.06 per share. These two transactions will reduce the company's total liabilities and indebtedness by $1,219,933.00. Altima is beneficially owned by Drs. George Christodoulou and Sven Grail, each of whom is a director of IHP. Dr. Christodoulou is also President and Chief Executive Officer of IHP. The transaction is a Related Party Transaction under Multilateral Instrument 61-101 and is subject to shareholder approval on a majority of minority basis. The independent members of IHP's Board of Directors have approved the transaction, and have based their approval on an independent valuation of the dental clinics commissioned by the Board of Directors. In addition, Management will seek approval of the shareholders for a one for ten share consolidation. If accepted by the TSX Venture Exchange, it is anticipated the IC will be mailed to shareholders on or about June 10, 2008. A further news release will be issued providing an update on the status of the mailing of the IC. International Health Partners Inc. is a medical and dental "Practice Management Company" in the business of evaluating and consolidating medical and dental facilities. The Company operates a chain of modern health facilities that provide primary medical and dental services in the Province of Alberta. For additional information on the Company, please go to www.ihp.ca or www.sedar.com.
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