Ethema Files 8K on Debt Restructure

Rhea-AI Summary

Ethema Health Corporation (OTCPINK: GRST) announced a new note to replace expiring notes from Labrys Fund, extending maturity by 9 months and offering a chance to avoid extra costs if paid by October 3, 2022. The Company also reported fully extinguishing a note due to Geneva Roth Remark Holdings Inc. Ethema relocated its registered head office to its ARIA subsidiary's location. CEO Shawn Leon highlighted this collaborative effort with investors as a strategic move to enhance cash flow for debt repayment, underscoring the growing financial stability of the ARIA subsidiary.

Positive

• New note extends maturity by 9 months, providing cash flow relief.
• Avoidance of additional costs if original debt paid off by October 3, 2022.
• Full repayment of the note due to Geneva Roth Remark Holdings Inc. enhances financial standing.

Negative

• None.

West Palm Beach, FL, July 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”) filed an 8-K today reporting the finalized new note to replace the expiring notes from Labrys Fund that were coming due at the end of June 2022.  The new note extends the maturity for 9 months from June 1, 2022 and it also allows the Company to avoid further costs built into the note if the original amount owing under the Labrys notes is paid off by October 3, 2022. 

The Company also reports that on July 15, 2022 it has fully extinguished the outstanding note due to Geneva Roth Remark Holdings Inc.    
The Company has also earlier this month changed the registered head office of the Company from 1590 S Congress Avenue, West Palm Beach FL 33406 to the location of its ARIA subsidiary at 950 Evernia Street, West Palm Beach FL 33401.

Mr. Shawn Leon, Company CEO, reported, “We worked collaboratively with one of our long term investors to purchase the expiring notes from Labrys Fund and convert them into a new extended term note.   This will enable the Company more time to generate cash flow for repayment of the debt.  The Company’s ARIA subsidiary is steadily increasing cash flow and should generate enough to repay the note in full prior to maturity.” 

About Ethema Health Corporation
Ethema Health Corporation (OTCPINK: GRST) operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Ethema developed a unique style of treatment over the last decade and has had much success with in-patient treatment for adults. Ethema will continue to develop world class programs and techniques for North America.  For more information you can visit our website at www.ethemahealth.com .  

Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements.  These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.  You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.  Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity.  We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For information please contact:
Ethema Health Corporation
shawn@ethemahealth.com      
Text to 416-500-0020
Twitter @healthethema

FAQ

What is the significance of the new note issued by Ethema Health Corporation (GRST)?

The new note extends the maturity by 9 months, allowing Ethema to manage its cash flow more effectively and avoid additional costs.

When is the deadline for Ethema Health Corporation to pay off the original note to avoid extra costs?

The deadline to pay off the original amount owing under the Labrys notes is October 3, 2022.

Has Ethema Health Corporation (GRST) reduced any of its outstanding debts recently?

Yes, Ethema has fully extinguished the outstanding note due to Geneva Roth Remark Holdings Inc.

Where has Ethema Health Corporation changed its registered head office?

Ethema has moved its registered head office to the location of its ARIA subsidiary at 950 Evernia Street, West Palm Beach, FL.