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Exhibit 99.1



 

ActiveCare, Inc. Secures $10 Million Financing

 

 

SALT LAKE CITY, October 18, 2011 -- ActiveCare, Inc. (ACAR.OB) a leader in senior care technology, announces a $10 million equity line of credit funding commitment from a consortium of European investors lead by Sapinda, Ltd.  The terms of the funding agreement is in the form of an equity line of credit with $5 million being funded by November 15, 2011 and the remainder to be taken down by the Company at its option once certain business development milestones have been achieved.  The pricing of the first $5 million is $.50 per share.  Future draws on the equity line, if any, will be at prices that are the greater of a 30% discount to market or $.50 per share.

 

This $10 million equity line of credit is expected to facilitate the execution of the Company’s business plan which is intended to strategically align ActiveCare as a leader in the senior care market.  The funding available under the equity line of credit should enable the Company to complete several strategic initiatives, including


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