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Monday, July 10, 2023 7:44:53 PM
WEST PALM BEACH, FL, June 08, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Ethema Health Corporation (OTCPINK: GRST) (“Ethema”, “GRST” or the “Company”) is pleased to update shareholders on several initiatives that the Company has been working on most recently. The company is in negotiation with its senior lender on repayment of its debt and convertible notes. The lender has agreed to extend the original forbearance agreement expiring June 8, 2023, until June 28, 2023 to agree to a plan for repayment of the Leonite debts and convertible loans. These parties are also negotiating a global restructuring of outstanding securities that is expected to be announced shortly. The plan would greatly reduce the complexity of the Company’s balance sheet, as well as reduce substantial liabilities.
The Company’s initiative on purchasing the West Palm Beach real estate is also in its final stages and will be part of the expected resolution as part of the senior debt restructuring. These two initiatives have delayed both the start of the Reg A+ capital raise and the completion of the acquisition. All of these initiatives are interdependent on each other, and it is expected that they will be resolved by June 30, 2023.
The Company further reports that its ARIA subsidiary achieved extremely strong results in April and May with over 1 million in revenue for the two months. The company expects this revenue rate to continue for June. If revenue continues as projected, the second quarter will set new highs for profitability.
Mr. Shawn Leon, Company CEO, reported, “Our focus on growth and repayment of debt should yield some very substantial results in the second quarter.”
Recent GRST News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 08:46:15 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 07:23:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/29/2024 05:40:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/29/2024 05:39:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 09:25:38 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 06/11/2024 06:20:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 02:47:46 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/31/2024 08:27:28 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 05/07/2024 08:16:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/07/2024 09:45:09 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 12/22/2023 09:04:27 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 09:55:26 PM
- Form 1-A POS - • Edgar (US Regulatory) • 10/20/2023 07:29:40 PM
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