Leonite Hedge fund has an option to buy 20% of the outstanding common shares of GRST at 10 cents per share --- this is just the beginning for them. Typically they look for a 10x return on their investments, so potentially they may be predicting a dollar per share to their Board of Directors.
Statement from CEO:
“Despite the severe setbacks faced by the Company over the last 6 months, my wife and I remain committed to the success of the Company (GRST shares were trading at .06 cents per share just eleven to twelve months ago). We have continued to support the Company financially and believe wholeheartedly in the ability to deliver quality addiction treatment services to clients. We have personally guaranteed many of the Company obligations and fully support the Company going forward.
The future for addiction treatment services is expected to be very strong due to the severe effects on many people from isolation and fear of the COVID-19 virus, not to mention the trauma of losing a loved one in these difficult circumstances. We aim to be part of the healing and recovery from these extraordinary times and wish to thank all the various lenders, shareholders, and stakeholders who have supported us in restructuring and have given us the opportunity to help as many people as we can going forward,” said Shawn Leon CEO of GRST.