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Posted On: 05/17/2021 12:45:18 PM
Post# of 4861
Post because, I believe a lot of shareholder own this stock
West Palm Beach, FL, May 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”) is pleased to announce that the Company has made a substantial change to its debt position. The details have been released in an 8-K filed today with the SEC. At the end of April, payments on one of the Company’s convertible notes were due in addition to the expiration of the rights of repayment on several of the other convertible notes owed by the Company. As part of the Company’s focus on dealing with its debt announced on April 28, 2021, the Company closed on a one-year convertible note in the face amount of $550,000.00 including an OID of 10% and a fixed conversion price of $0.005 per share. The Company used the proceeds of the loan to repay three of its lenders notes completely. The notes that were repaid were notes owed to Geneva Roth Remark Holdings in the face amount of $88,000 which required a payment of $119,449.27, FirstFire Global Opportunities Fund in the face amount of $138,888.89 which required a payment of $164,913.20, and Auctus Fund in the face amount of $100,000.00 which required a payment of $110,000. An additional note due to Geneva Roth Remark Holdings in the face amount of $53,000.00 has a prepayment right that expires on May 24, 2021 and will also be repaid from the proceeds of the loan. These repayments reduced substantially the amount of debt that would be converted into common stock and fixes the rate of conversion on the new loan so that dilution to the Company’s existing shareholders was brought down substantially. A portion of the money due at the end of April was converted to restricted common stock and after repayment to one of the lenders that lender exercised its warrants. The result of the conversions and exercise of warrants were far less dilutive than what was possible had the notes not been repaid.
Mr. Shawn Leon, the CEO of the Company, stated, “We have dealt with a major portion of the potentially dilutive debt the Company was exposed to and eliminated a portion of the Warrants outstanding. Replacing this dilutive debt with a fixed rate convertible debt was a major vote of confidence by one of our existing lenders. The Company will continue its efforts to reduce or restructure the debt outstanding as a major priority of the Company as we strive to build value for our Shareholders.”
West Palm Beach, FL, May 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”) is pleased to announce that the Company has made a substantial change to its debt position. The details have been released in an 8-K filed today with the SEC. At the end of April, payments on one of the Company’s convertible notes were due in addition to the expiration of the rights of repayment on several of the other convertible notes owed by the Company. As part of the Company’s focus on dealing with its debt announced on April 28, 2021, the Company closed on a one-year convertible note in the face amount of $550,000.00 including an OID of 10% and a fixed conversion price of $0.005 per share. The Company used the proceeds of the loan to repay three of its lenders notes completely. The notes that were repaid were notes owed to Geneva Roth Remark Holdings in the face amount of $88,000 which required a payment of $119,449.27, FirstFire Global Opportunities Fund in the face amount of $138,888.89 which required a payment of $164,913.20, and Auctus Fund in the face amount of $100,000.00 which required a payment of $110,000. An additional note due to Geneva Roth Remark Holdings in the face amount of $53,000.00 has a prepayment right that expires on May 24, 2021 and will also be repaid from the proceeds of the loan. These repayments reduced substantially the amount of debt that would be converted into common stock and fixes the rate of conversion on the new loan so that dilution to the Company’s existing shareholders was brought down substantially. A portion of the money due at the end of April was converted to restricted common stock and after repayment to one of the lenders that lender exercised its warrants. The result of the conversions and exercise of warrants were far less dilutive than what was possible had the notes not been repaid.
Mr. Shawn Leon, the CEO of the Company, stated, “We have dealt with a major portion of the potentially dilutive debt the Company was exposed to and eliminated a portion of the Warrants outstanding. Replacing this dilutive debt with a fixed rate convertible debt was a major vote of confidence by one of our existing lenders. The Company will continue its efforts to reduce or restructure the debt outstanding as a major priority of the Company as we strive to build value for our Shareholders.”
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