Ethema continues to reduce its debt

West Palm Beach, Fla., March 01, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”) continues to eliminate debt. The Company has entered into agreements with two of its main creditors allowing the Company to reimburse or reduce its debts without resorting to more dilutive conversions.

On February 28, 2021, the Company made its third payment since the beginning of the year to Labrys Fund LP (“Labrys”) pursuant to an amendment to the $550,000.00 Labrys note dated May 7, 2021. The January 10, 2022, January 31, 2022 and February 28, 2022, the Company made payments of $25,000.00, $50,000.00 and $75,000.00 respectively to Labrys. These payments, along with principal and interest reductions made in the fourth quarter of 2021 through a conversion into common stock, leave a total balance owing on the note of $386,000.00. The amendment which also changed the due date to May 31, 2022 provides for the balance to be paid in the following amounts on the following dates; $100,000.00 on March 31, 2022, $150,000.00 on April 30, 2022 and $136,000.00 on May 31, 2022. As long as these payments are made, Labrys has agreed not to make any conversion under the ticket. A similar amendment has been made to the $230,000.00 Labrys note dated June 2, 2021 such that there will be no conversion under the note so long as the note is repaid in two equal installments of $127,650.00 $ on May 31, 2022 and June 30, 2022. the maturity date of the note has been modified to June 30, 2022.

The Company has entered into a forbearance agreement with Leonite Capital Inc. (“Leonite”) for their note dated July 12, 2020 which limits certain collection activities for defaults until June 28, 2022. The current conversion price used on the note is $0.001 per share.

The Company has made four payments due on the $95,200.00 note from Geneva Roth Remark Holdings Inc. dated September 30, 2021, including the last payment on February 15, 2022 in the amount of $11,424.00.

Mr. Shawn Leon, CEO of the company, said: “We are committed to eliminating any debt the company has with any floating rate conversion feature. Over $600,000 of this type of debt has been eliminated in the past four months. We have a good relationship with all of our lenders and the lenders have worked with the Company to this end. We will use operating cash flow, new fixed rate debt and market rate equity to do our best to make this happen in the first half of 2022.”

About Ethema Health Corporation

Ethema Health Corporation (OTCPINK: GRST) operates in the field of behavioral health, particularly in the treatment of substance use disorders. Ethema has developed a unique treatment style over the past decade and has had great success with adult hospital treatment. 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 in this document includes forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievements to be materially different. results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements, as 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, activity levels, performance or achievements. Any forward-looking statements reflect our current beliefs regarding future events and are subject to such risks, uncertainties and assumptions regarding our business, results of operations, growth strategy and liquidity. We undertake no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For more information, please contact:

Ethema Health Corporation

[email protected]

Text 416-500-0020

Twitter @healthethema

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