- Maitri Health Technologies (MTEC) will change its name to Bloom Health Partners Inc.
- Common shares of the company will commence trading on the Canadian Securities Exchange under the new name and ticker symbol BLMH
- Holders of shares and warrant certificates do not need to take any action as a result of the name change
- Maitri Health Technologies Corp. (MTEC) is up 21.67 per cent, trading at C$0.36 at 11:30 am ET
Maitri Health Technologies Corp. (MTEC) will change its name to Bloom Health Partners Inc.
The common shares of the company will commence trading on the CSE under the new name at the open of markets on November 1, 2021, under the new ticker symbol BLMH.
Holders of shares and warrant certificates do not need to take any action as a result of the name change.
In mid-April, Maitri signed a letter of intent to acquire Texas-based Round Hill Health Partners LLC dba Bloom Health Partners. The proposed acquisition was expected to allow Maitri to expand its capabilities and markets.
Upon completion of the proposed acquisition, Maitri acquired Bloom Health’s industry-leading testing and mobile lab network, scientific expertise and relationships with large enterprises. Upon completion, Maitri would also be able to utilize Bloom Health’s operational testing and technical experience to expand the testing services in Canada.
“This acquisition is an important step for Maitri,” said Andrew Morton, Maitri CEO. “It is designed to grow our business by delivering long-term solutions that help workplaces stay safe in a post-pandemic world.”
It proposed to acquire all of the issued and outstanding equity interests of Bloom Health in consideration for 22,500,000 common shares of Maitri and US$12,500,000 in cash. The cash payments were to be paid as follows: US$7,500,000 on December 31, 2021, and US$5,000,000 on December 31, 2022. Performance milestones will be finalized in the definitive agreement.
Maitri Health Technologies Corp. (MTEC) is up 21.67 per cent, trading at C$0.36 at 11:30 am ET.