VANCOUVER, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) -- Treatment.com International Inc. (“Treatment or the “Company”) (CSE: TRUE; OTC: TREIF; FFA: 939), a global healthcare company that has developed a next-generation AI platform to help patients and caregivers around the world make better health decisions, announces the proceeding of a non-brokered private placement, raising aggregate gross proceeds of up to $1,250,000 in unsecured convertible debentures (the “Private Placement”).
Each debenture will consist of a $1 principal amount of unsecured, non-redeemable 8% convertible debentures, maturing 36 months from issuance, and convertible at the option of the debenture holder into units at the Company at a conversion price of $0.41 per unit. Upon conversion, each unit will be comprised of one common share and one common share purchase warrant, each warrant exercisable at a price of $0.50 for a period of two years from issuance.
Interest at a rate of 8% per annum will be paid to debenture holders monthly in arrears. At the election of the Company, interest may be paid in units of the Company issued at the prevailing market price of the Company’s common shares at the time of election by the Company.
The Company may pay finders’ fees in connection with the private placement. In addition to the statutory hold period as required under securities laws, the units issuable upon conversion of the debentures will be subject to a contractual hold period of twelve months from closing. The net proceeds of the private placement will be used for general working capital purposes.
Treatment.com is a disruptive healthcare technology company harnessing the power of AI to help global citizens improve their health through personalized recommendations and insights. Based in Vancouver with a US subsidiary, the company spent the last five years working with a team of world-class doctors, engineers, mathematicians, and AI specialists to develop a sophisticated and scalable AI engine that leverages the most robust, personalized data to generate highly predictive and accurate insights. Treatment.com is the company behind the new release of the Treatment Digital Health App. This doctor-built app is driven by an intelligent digital health assistant which will empower people to take control of their health. Doctors are encouraged to apply for NFT and blockchain rewards for contributing to Treatment’s growing compendium of medical knowledge housed in its proprietary Global Library of Medicine.
For more investor information on Treatment.com please visit https://treatment.com/investors/.
Release issued by: John Fraser, CEO
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This news release contains forward-looking statements relating to the future operations of Treatment.com, International, Inc. (Treatment) and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of Treatment, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Treatment's expectations include other risks detailed from time to time in the filings made by Treatment with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Treatment. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Treatment will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.
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