COMPREHENSIVE HEALTHCARE SYSTEMS, INC. ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

CALGARY, AB, Aug. 31, 2023 /CNW/ - Comprehensive Healthcare Systems, Inc. (TSXV: CHS) ("CHS" or the "Company") is pleased to announce that all matters submitted to shareholders for approval as set out in detail in the Company's management information circular (the "Circular") dated August 1, 2023, were approved at the annual and special meeting of shareholders of the Company held on August 30, 2023 (the "Meeting").

The resolutions at the Meeting consisted of the following: (1) setting the number of directors at five; (2) election of all director nominees, Chris Cosgrove, Vikas Ranjan, Mariam Cather, Amit Dutta, and Siddhartha Gautam Mohanty to the board of directors of the Company; (3) appointment of McGovern Hurley LLP as auditor of the Company for the ensuing year and authorizing the directors to fix its remuneration; (4) disinterested shareholder approval of a new 10% rolling equity incentive plan (as further detailed below) (the "Incentive Plan"); and (5) the approval of adoption of a new form of by-laws and repealing of the current by-laws.

At the Meeting, 42,689,153 common shares in the capital of the Company (the "Shares") were voted representing 34.42% of the outstanding Shares of the Company. All resolutions received the requisite shareholder approval.

The Incentive Plan will be effective August 30, 2023, replaces the Company's previous stock option plan, and allows option holders to exercise options on a "Cashless Exercise" or "Net Exercise" basis (as permitted by TSX Venture Exchange Policy 4.4 - Security Based Compensation). In addition, the Incentive Plan will provide for the flexibility to grant equity-based incentive awards in the form of stock options, restricted share units, and deferred share units. The aggregate maximum number of Awards (as such term is defined in the Incentive Plan) issuable under the plan to eligible recipients, may not exceed 10% of the number of issued and outstanding Shares as at the date of a grant.

The Incentive Plan remains subject to final approval from the TSX Venture Exchange (the "TSXV") in accordance with the policies of the TSXV. A copy of the Incentive Plan is attached as Schedule "C" to the Circular, and available under the Company's profile on SEDAR+.

Additional details of all matters approved at the Meeting are set out in the Circular, and available under the Company's profile on SEDAR+.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems, Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company's state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthcare administrative software and technology-enabled services.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Comprehensive Healthcare Systems Inc.