UniDoc Announces Debt Settlement and Renews Marketing Engagement

Rhea-AI Summary

UniDoc Health Corp. (CSE:UDOC, FRA:L7T, OTCQB:UDOCF) announced plans to settle $93,240 in debt by issuing approximately 266,400 common shares at $0.35 per share. This Debt Settlement aims to conserve cash and improve financials by reducing liabilities. The settlement, involving a company controlled by a UniDoc director, is a 'related party transaction' under MI 61-101 but is exempt from formal valuation and minority shareholder approval requirements. The shares will have a four-month hold period.

Additionally, UniDoc has extended its engagement with Rumble Strip Media Inc. for social media, marketing, and consulting services for three more months starting April 4, 2025, at a cost of $500,000. This renewal aligns with UniDoc's financial resources and operational levels, supported by $3.7 million from private placements and $9.7 million from convertible securities since incorporation. The company believes Rumble's services are important for maintaining stock liquidity and investor awareness.

Positive

• Debt Settlement conserves cash and reduces liabilities.
• Engagement with Rumble Strip Media Inc. aids in maintaining stock liquidity and investor awareness.

Negative

• Issuing 266,400 new shares may dilute existing shareholders.

VANCOUVER, BC / ACCESS Newswire / April 3, 2025 / UniDoc Health Corp. (CSE:UDOC)(FRA:L7T)(OTCQB:UDOCF) ("UniDoc" or the "Company") announces that it intends to settle $93,240 (equivalent to approximately €60,000) in debt owed to a certain creditor of the Company by issuing approximately 266,400 common shares of the Company at a deemed price of $0.35 per share (the "Debt Settlement"). The creditor is a company controlled by a director of the Company.

The Company intends to complete the debt settlement to preserve the Company's cash for working capital and improve its financial position by reducing its existing liabilities. The Debt Settlement is expected to close shortly, subject to customary closing conditions, including, but not limited to, finalizing all contractual documentation and receipt of all applicable regulatory approvals, as applicable, including compliance with the policies of the Canadian Securities Exchange (the "CSE").

The Debt Settlement shares will be subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the CSE.

As the Debt Settlement shares will be issued to a company controlled by a director of the Company, the Debt Settlement will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Debt Settlement is exempt from the formal valuation requirements and minority shareholder approval requirements of MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a) as the value of the common shares issued in the Debt Settlement will not exceed 25% of the Company's market capitalization.

Further to the Company's news release of November 20, 2024, the Company is also pleased to announce it has exercised its option to extend its engagement with Rumble Strip Media Inc. ("Rumble") to provide certain social media, marketing, and consulting services to UniDoc (the "Services") for an additional period of three months beginning on April 4, 2025. The Services may include investor relations activities within the meaning of applicable securities laws and the policies of the CSE. In consideration for the extension, the Company has agreed to pay Rumble US$500,000 plus applicable taxes. Rumble and its principal are arm's length to the Company and, to the knowledge of the Company, Rumble does not own, control, or direct any securities of the Company. Rumble Strip Media Inc. (Address: #893 250-997 Seymour St, Vancouver, British Columbia, V6B 3M1; Email: info@rumblestrip.ca) is a Vancouver-based media and consulting firm.

In accordance with Policy 7.2 of the CSE, the Company believes that the renewed engagement of Rumble is consistent with its financial resources and level of operations. Specifically, the Company has raised a total of approximately $3.7 million from private placements and a further $9.7 million from the exercise of convertible securities since incorporation. The Company's ability to continue to raise capital through private placements and convertible securities depends in large part on maintaining liquidity in its stock, which the Company believes is greatly assisted through undertaking investor awareness campaigns. The cost of effective investor awareness campaigns are generally fixed and necessary costs, which is a factor of the cost to buy ad space online. The Company has been pleased with the effectiveness of Rumble's services and believes that continuing to engage them will assist it in meeting its goals.

On Behalf of the Board of Directors,

~Antonio Baldassarre~

Antonio Baldassarre
CEO, President & Director
UniDoc Health Corp.

About UniDoc Health Corp. (CSE:UDOC)(FRA:L7T)(OTCQB:UDOCF)

UniDoc is developing an eHealth solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician's office. eHealth opens the doors to a large segment of the population challenged by access, experience or understanding of online computer technology. It is the Company's belief that physical accessibility is the key to its business proposition. UniDoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited timeframe. The UniDoc team encourages engagement, questions, and interest, so please stay in touch and invite anyone who might be interested in our story to visit our website at www.unidoctor.com and signup to receive the latest information with updates on our activities, events and progress.

For further information, please contact:

UniDoc Investor Relations
Tel: +1 778.383.6731
Email: info@unidoctor.com

Matt Chatterton, Director
Tel: +1 778.613.2082
Email: matt@unidoctor.com

Media Inquiries media@unidoctor.com

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to the terms of the Debt Settlement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipates", "anticipated" "expected" "intends" "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: UniDoc Health Corp.

View the original press release on ACCESS Newswire

FAQ

What is the impact of UniDoc's debt settlement on shareholders?

The debt settlement will conserve cash and reduce liabilities but may dilute existing shareholders by issuing 266,400 new shares.

How many shares will UniDoc issue in the debt settlement?

UniDoc will issue approximately 266,400 common shares at a deemed price of $0.35 per share.

What is the significance of UniDoc's renewed engagement with Rumble Strip Media Inc.?

The renewed engagement with Rumble Strip Media Inc. is intended to maintain stock liquidity and investor awareness, costing $500,000 for three more months starting April 4, 2025.

How does UniDoc plan to use the debt settlement to improve its financial position?

By issuing shares to settle $93,240 in debt, UniDoc aims to conserve cash for working capital and reduce existing liabilities.

What are the terms of the shares issued in UniDoc's debt settlement?

The shares issued in the debt settlement will be subject to a four-month hold period as per Canadian securities laws and CSE policies.

How much has UniDoc raised from private placements and convertible securities?

UniDoc has raised approximately $3.7 million from private placements and $9.7 million from convertible securities since incorporation.