TORONTO, Sept. 18 /CNW/ -- AIM Health Group Inc. ("AIM" or the "Company") (TSXV - AHG), a fully integrated health care company, announced today that it has engaged Raymond James Ltd., on a "commercially reasonable efforts" agency basis, to complete a private placement of up to $3.5 million principal amount of 10% convertible secured debentures (the "Debentures") to accredited investors.

The Debentures are to be priced at par per $1,000 principal amount thereof, bear interest at a rate of 10% per annum, payable quarterly, and mature three years from the date of closing of the private placement. The Debentures are to be convertible into common shares, at the option of the holder at any time prior to maturity, at a conversion price of $0.30 per share. The Company can redeem the Debentures at any time after one year, without penalty, and may force the conversion of the Debentures if the volume weighted average trading price of its common shares is at or above $0.40 for 20 calendar days.

AIM intends to use the net proceeds of the private placement to repay debt and for capital expansion purposes. The private placement is subject to, among other things, the completion of definitive documentation and regulatory approval.

About AIM Health Group Inc.

AIM is a fully integrated Canadian health care company that offers comprehensive services to individuals that are ill, injured, or disabled, and to individuals requiring lifestyle interventions to improve their quality of life (wellness). This philosophy translates into a continuum of health delivery where the individual's health care is integrated with the various service providers through a complex public-private delivery model. This continuum of care model is the core concept of AIM's integrated service and delivery model.

AIM's service lines integrate all aspects of health care from clinical research, medical assessments, occupational health, multi-disciplinary rehabilitation, medical acute care, family practice and specialty clinics. These services also include an integrated chronic pain management program, community-based infusion centers and health human resource management, including physician and nurse staffing. AIM provides comprehensive health services through dedicated professionals who are all part of a successful and growing organization that fosters excellence in managing an individual's health through clinical consensus contribution.

Caution Concerning Forward-Looking Statements

Certain statements in this press release are forward-looking statements.