Vancouver, British Columbia / TheNewswire / November 25, 2016:  Radiant Health Care Inc. (the "Company" or "Radiant") announces that it has signed a letter of intent (the "LOI") with Teal Pioneer Inc. ("Teal") in connection with a proposed acquisition by the Company of all of the issued and outstanding common shares in the capital of Teal (the "Teal Shares") in exchange for common shares in the capital of Radiant (the "Transaction"), with the result being that Teal will become a wholly-owned subsidiary of Radiant.

 

The purchase price of $3 million is payable to the holders of the Teal Shares in Radiant common shares, with the potential for the issuance of additional bonus shares to the former Teal shareholders upon the successful completion of certain performance-based milestones.

 

Radiant also announces that it has filed preliminary materials for the initial listing of its common shares on the Canadian Securities Exchange and expects that its shares will be listed for trading on the Exchange in the first half of 2017.

 

About Teal

 

Teal is a private Ontario company that is engaged in the Canadian medical cannabis sector through two Ontario clinic groups, as well as a number of independent physicians, and that provides a proprietary software for dispensing physicians.

 

About Radiant

 

Radiant is a BC-based company focused on the healthcare sector.  Currently, the principal business of the Company is the identification, evaluation, and acquisition of interests in healthcare assets and businesses, with a focus on the Canadian medical cannabis sector.

 

On Behalf of the Board of Directors

 

Brett Walker

President & Chief Executive Officer

For further information, please contact:

 

Brett Walker

President & Chief Executive Officer

(604) 366-7460

Forward-Looking Statements:

 

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable Canadian securities laws.  Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.  Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations and orientations regarding the future.  Often, but not always, forward looking statements can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Such forward-looking statements include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the completion of the Transaction and the listing of the Company's shares on the Canadian Securities Exchange.  Actual results could differ from those projected in any forward-looking statements due to numerous factors.  Such factors include, among others, the change of business focus of the management of the Company, the inability of the Company to pursue its current business objectives due to lack of financing, the ability to retain key personal or otherwise, the ability of the Company to carry out the Transaction and the acceptance by the Canadian Securities Exchange of the listing of the Company's shares thereon.  These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in these forward-looking statements.  Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that those beliefs, plans, expectations, or intentions will prove to be accurate.  Readers should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with Canadian securities regulators.  These reports and the Company's public filings are available at www.sedar.com.