Pethealth proposes share placement

Pet insurance provider Pethealth Inc. (TSX Venture: PTZ) is planning a private placement of up to 30 million units, at a price of $0.12 each. Units will consist of one common share and one common share purchase warrant. Warrants can be used to buy a common share for $0.18 prior to close of business December 19, 2002.
The offering is subject to regulatory approval.
Recently, Pethealth, parent company of PetCare Insurance Brokers Ltd. and PetCare Insurance Agencies, announced that it sold a record 7,100 in the quarter ending June 30, 2002. This is a 70% increase over the same period a year prior. At the quarter’s end, the company had more than 30,000 policies outstanding, a 110% increase over one year ago.
Also, 13,000 ShelterCare policies, for people adopting pets from shelters, were sold in the second quarter 2002 through partner Petfinder.com.
Oakville, Ontario-based Pethealth provides pet insurance in Canada through PetCare Insurance Brokers, ING Insurance and Kingsway General.