Ethema Files 8-K, Cancels CEO Shares
West Palm Beach, FL - (NewMediaWire) - December 10, 2020 - Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”) filed a comprehensive 8-K today summarizing all previously announced debt settlements and new financings entered since May 15, 2020. This filing will be used as a reference for the upcoming Regulation A filing. The previously announced term sheet for a new financing with Labrys Fund LP was concluded and the final warrants issued in conjunction with the financing were much more favorable to the Company. The final warrant was for 100,000,000 shares instead of 183,333,333 and the exercise price was $0.00205 instead of $0.0015. The final documents are included in the 8-K.
The total number of common shares issued was reduced yesterday after the CEO returned for cancellation 1,757,850 shares that were issued to him in the years 2012, 2014 and 2015 (for management fees). The CEO has never sold any shares issued for either management fees or for cash investments over the last twelve years and has not charged any management fees to the Company directly or indirectly in the last two years. The Company will be very strategic with any share issuances going forward. Once the Company gets the convertible debt repaid with equity or fixed price debt, it will seek shareholder approval to significantly reduce the authorized shares outstanding. The Company has previously announced the plans to file a Form 1-A under Regulation A to raise funding for acquisitions and to repay some of the current debt. The Company expects to make the filing soon.
The Company is pleased to announce that Evernia Health Center LLC (“ARIA”) commenced its Audit with the Department of Children and Families (“DCF”) today and is expected to complete the audit successfully in the next several days. This will give ARIA its full license and the ability to finalize contracts with certain insurance providers that will broadly expand the range of clients it can serve. ARIA received its LegitScript approval recently, and yesterday received approval by Google to begin Pay Per Click (“PPC”) marketing. The PPC campaign commenced yesterday. ARIA was pleased with the number of clients that it admitted in the first month of business and expects to boost those numbers with the PPC campaign.
ARIA has had a great success in managing the spread of Covid-19 at the new facility and attributes that success to the use of the Covid Clear product in the treatment of the facility environment, the use of PPE and testing as often as possible. Palm Beach County has been particularly hard hit with Covid-19 cases and ARIA has managed to keep the staff and clients free from the virus to date. The use of vaccines will be highly recommended to staff and clients once they are available.
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 eight years 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
Text to 416-500-0020