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Thursday, October 06, 2022 6:54:49 AM
Company Signs Purchase and Sale Agreement to Acquire Property and Ends Third Quarter Strong
October 05, 2022 13:07 ET | Source: Ethema Health Corporation
https://www.globenewswire.com/en/news-release/2022/10/05/2528993/0/en/Company-Signs-Purchase-and-Sale-Agreement-to-Acquire-Property-and-Ends-Third-Quarter-Strong.html
The Agreement also provides for a seller’s note which will provide the majority of the balance of funds necessary to close the deal. The company plans to raise additional equity for the purchase through a Regulation A financing.
We have also attempted to secure additional growth and expansion outside of the ARIA property, but neither of the opportunities the Company was working on in the third quarter were won by the Company and went to other bidders. We will continue to pursue similar opportunities to expand.
We continue to work on eliminating debt, especially convertible debt, and with stronger cash flow each month and the potential to raise new equity with a Regulation A offering at much higher prices than the current market, we believe we will be able to make significant strides on that front in the fourth quarter.”
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