Full Press Release Details
QUIPT ANNOUNCES PROCEEDS FROM EXERCISE OF WARRANTS
PROCEEDS OF $17.5 MILLION RECEIVED OVER 12-MONTH
Cincinnati, Ohio - July 8, 2021 -
Quipt Home Medical Corp. ("Quipt" or the "Company") (NASDAQ:QIPT; TSXV:QIPT), a U.S. based
leader in the home medical equipment industry, focused on end-to-end respiratory care, is pleased to announce that as a result of the
exercise of common share purchase warrants at CAD$6.40 per share, originally issued by the Company in June 2020 pursuant to its previously
announced bought deal prospectus offering and concurrent private placement, the Company has issued an aggregate of 3,389,825 common shares
in consideration for $17.5 million (CAD$21.7 million). All common shares, other than 969,000, have been issued since April 1, 2021.
Accordingly, the Company now has 33,102,529 common shares issued and outstanding.
"We believe that the warrant exercises are
indicative of overwhelming support from our shareholders for the future of Quipt and our vision for growing into a national durable medical
equipment provider focused on superior patient care," said Greg Crawford, Chairman and CEO of Quipt. "We have the strongest
balance sheet in the history of our company and look forward to executing on our robust acquisition plans for the remainder of the year."
ABOUT QUIPT HOME MEDICAL CORP.
The Company provides in-home monitoring and disease
management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue
to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease,
sleep disorders, reduced mobility and other chronic health conditions. The primary business objective of the Company is to create shareholder
value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company's
organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the
patient's services and making life easier for the patient.
Forward-Looking Statements
statements contained in this press release constitute "forward-looking information" as such term is defined in
applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential",
"will", "seek", "intend", "plan", "anticipate", "believe",
"estimate", "expect" and similar expressions as they relate to the Company, including, Quipt executing
on a robust acquisition plan for the remainder of the year , are intended to identify forward-looking information. All statements
other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current
views and intentions with respect to future events, and current information available to the Company, and are subject
to certain risks, uncertainties and assumptions, including, the Company successfully identified, negotiating and completing
additional acquisitions, including accretive acquisitions. Many factors could cause the actual results, performance or achievements
that may be expressed or implied by such forward- looking information to vary from those described herein should one or
more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation: credit; market
(including equity, commodity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure);
reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic
conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including
the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key
executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business
opportunities; low profit market segments; disruptions in or attacks (including cyber-attacks) on the Company's information
technology, internet, network access or other voice or data communications systems or services; the evolution of various
types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with
their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and
regulations; 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; the overall difficult
litigation environment, including in the U.S.; increased competition; changes in foreign currency rates; increased funding
costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources
to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by
the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and
risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to
try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, quarantines,
self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing,
supply chains and sales channels, and a deterioration of general economic conditions including a possible national
or global recession ; as well as those risk factors discussed or referred to in the Company's disclosure
documents filed with United States Securities and Exchange Commission and available at www.sec.gov, and with the securities
regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in
an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual
results or events may differ materially from the results or events predicted. Any such forward-looking information
is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility
for the accuracy or completeness of such forward-looking information. The forward-looking information included in
this press release is made as of the date of this press release and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as required by applicable law.
Neither the 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.
further information please visit our website at www.Quipthomemedical.com, or contact:
VP of Corporate Development
Quipt Home Medical Corp.
Chief Executive Officer
Quipt Home Medical Corp.