Ehave Announces Private Placement Transactions to Raise up to CDN$3 Million

Thursday, February 8, 2018 General News
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Completes Initial Tranche for CDN$1,159,000 in Gross Proceeds

TORONTO, Feb. 7, 2018

/PRNewswire/ -- Ehave, Inc. (OTCQB: EHVVF), a healthcare company dedicated to empowering the mental health community with next-generation digital solutions, today announced two private placement transactions, which combined enable the Company to
raise up to CDN$3 million in gross proceeds.  Ehave has completed the first tranche of a CDN$1.5 million private placement comprised of secured convertible debentures and common share purchase warrants, for gross proceeds of CDN$750,000.  In parallel, Ehave announced the completion of the first tranche of a second private placement to raise up to an additional CDN$1.5 million, comprised of unsecured convertible debentures and common share purchase warrants, for gross proceeds of CDN$409,000.

Proceeds from the private placements will be used for general working capital purposes as Ehave continues to develop and market its novel health informatics platform, Ehave Connect.

In connection with the private placements, Ehave has agreed to pursue completion of a subsequent financing for aggregate gross proceeds of at least CDN$2 million as well as approval for listing the Company's common stock on a recognized stock exchange in Canada.  Following such a financing, holders of the secured and unsecured debentures may convert these assets at their option to common shares of Ehave at a conversion price to be determined by the terms of the subsequent financing.

This press release shall not constitute an offer to sell, the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ehave, Inc.Ehave is empowering the mental healthcare community with a next-generation of data-rich tools designed to improve patient management, diagnosis and treatment. With Ehave Connect, Ehave's mental health informatics platform, clinicians can make objective, data-driven decisions while keeping patients informed and engaged throughout their mental healthcare journey. Ehave Connect offers a powerful set of core features that integrate with a growing selection of tools and applications developed by Ehave and its leading partners, including Multi-Health Systems ("MHS"), a leading publisher of psychological assessments. Ehave is initially focused on improving the standard of care in attention deficit hyperactivity disorder ("ADHD"), through its collaboration with the Hospital for Sick Children ("SickKids"). Ehave Connect is also being utilized to advance the validation and optimization of medical cannabis, through its collaboration with MedReleaf. For more information, visit https://www.ehave.com/.

Forward-Looking Statement DisclaimerThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company's research, manufacturing and other development efforts; (ii) the Company's ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company's products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company's industry and introduction of competing products; (vi) the Company's ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Ehave, Inc.'s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.

Contacts Tiberend Strategic Advisors, Inc. Joshua Drumm, Ph.D. (Investors) (212) 375-2664 jdrumm@tiberend.com 

Janine McCargo (Media) 646-604-5150 jmccargo@tiberend.com 

Cision View original content:http://www.prnewswire.com/news-releases/ehave-announces-private-placement-transactions-to-raise-up-to-cdn3-million-300595435.html

SOURCE Ehave, Inc.

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