MedBright AI Investments Inc. Responds to OTC Markets Request on Recent Promotional Activity
- None.
- None.
VANCOUVER, British Columbia, Jan. 17, 2024 (GLOBE NEWSWIRE) -- MEDBRIGHT AI INVESTMENTS INC. (CSE: MBAI; OTCQB: MBAIF; FSE: 1V7) (“MedBright” or the “Company”) announces that it has been requested by OTC Markets Group Inc. (“OTC Markets”) to issue this statement about promotional activity concerning its common shares traded on the OTCQB market (operated by OTC Markets).
On January 9, 2024, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and the common shares traded on the OTCQB Marketplace, including the distribution of three promotional newsletter emails published by Kevin Vander of www.10XProTrader.com discussing the Company, its technologies and the healthcare services market. OTC Markets provided examples of the promotional material for reference.
All three examples of the promotional material are derived from a third-party marketing and advertising firm. On December 28, 2023, the Company entered into a marketing agreement with Outside The Box Capital Inc. (“OTB”), whereby OTB would provide certain promotional and advertising services to the Company. OTB is permitted to further hire third parties. The agreement entered into with OTB is valid until June 28, 2024, if not earlier terminated by mutual consent.
After an inquiry of management, the Company was aware of the distribution of each newsletter as of January 12, 2024 and paid for their distribution. However, none of the Company and its officers were involved, directly, with the creation of the materials. The Company provided the service providers publicly available source information for the newsletters and did not have editorial control over the materials, including reviewing the materials for factual accuracy prior to their dissemination. Each of the newsletters presented factual statements regarding the healthcare services market and the Company’s technology.
The Company does not believe the statements in the newsletters were false or misleading. The Company has been advised by OTC Markets that OTC Markets takes the position that the newsletters tout the Company and encourages investors to purchase its shares. The Company wishes to caution readers that these statements are speculative in nature. For more complete and specific information regarding the Company, its prospects, and the risks associated with those prospects, readers should consult the Company’s public filings on SEDAR+, its website, and other reliable sources. The Company encourages investors to contact their investment advisors prior to making any investment.
Further, the Company understands this promotional activity may have coincided with increased trading activity in the common shares beginning on January 9, 2024. The Company does not believe the promotional activities were a factor in the recent increase in trading volume in the Company’s common shares. Rather, the Company attributes the increase to the news release issued by the Company on January 9, 2024 announcing that Rejuvenation medical group, a prominent dermatology group and a leader in advanced dermatological care, decided to adopt MedMatrix (in which the Company is a significant shareholder) across all its clinics in Canada.
After an inquiry of management, none of the officers and directors of the Company sold or purchased securities of the Company within the past 90 days. To the extent of management’s knowledge, none of the controlling shareholders have sold or purchased the Company’s securities within the past 90 days. Additionally, management is not aware of any third-party service providers who have sold or purchased the Company’s securities within the past 90 days.
OTC Markets has further requested that the Company state whether, at any point, it has issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance. As disclosed in its public filings on SEDAR, the Company has not issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance in accordance with the policies of the Canadian Securities Exchange.
In the past 12 months, the Company has entered into an agreement with OTB, as previously described above, to provide investor relations services, public relations services, marketing, and other related services including the promotion of the Company or its securities. The Company has also entered into: (i) a marketing agreement with Emerging Markets Consulting LLC (“EMC”) dated September 19, 2023, pursuant to which EMC agreed to provide investor and public relations services for the Company and which services have been discontinued; (ii) a marketing agreement with Link Media LLC (“Link”) and Crush Ventures LLC (“Crush”) dated September 20, 2023, pursuant to which Link and Crush agreed to provide certain promotional and advertising services to the Company which have both been discontinued and (iii) a marketing agreement with Triomphe Holdings Ltd. DBA Capital Analytica (“Capital Analytica”) dated November 15, 2023, whereby Capital Analytica has agreed to provide certain promotional and advertising services to the Company. The agreement entered into with Capital Analytica is valid until February 15, 2024, if not earlier terminated by mutual consent.
MedBright also announces that it has engaged Winning Media LLC (“Winning Media”) to provide investor relations and digital advertising services to the Company. Winning Media is a Houston, Texas based marketing agency that specializes in digital and corporate brand marketing services to enhance corporate visibility and retail investor awareness. Winning Media will provide its services by way of text and email, podcasts, websites and other digital mediums as appropriate. The engagement of Winning Media will extend for a period of 60 days, to commence when authorized by the Company. Winning Media will be paid a fee of US
MedBright further announces that it has engaged Longtable Capital Partners (“Longtable), a Vancouver-based communications firm which specializes in assisting companies to effectively communicate their corporate strategies and milestones to an investor-focused audience. Their expertise spans capital markets, omni-channel marketing, and corporate development, serving clients at every stage of growth. Longtable will provide its services by way of phone, email and other digital mediums as appropriate. Longtable will be compensated
About MedBright AI Investments Inc.
MedBright AI is a capital allocator focused on investing in healthcare technology companies. The team at MedBright prides themselves on unparalleled access to opportunities, as well as structuring unique and advantageous investments. MedBright's mission is to construct a portfolio of synergistic investments to generate superior returns for shareholders. MedBright will focus on significant near-term and midterm high-quality opportunities with strong return potentials while maintaining commitment to governance. Click here to view the MedBright AI corporate video.
MedBright AI Investments Inc.
Trevor Vieweg, Chief Executive Officer
Email: investors@medbright.ai
FAQ
What is the ticker symbol for MedBright AI Investments Inc.?
Why has MedBright AI Investments Inc. been requested to issue a statement by OTC Markets Group Inc.?
