Ethema Health Corp (GRST)

[Bubae]

With the full court press promotions since June you would have thought Shawn Leon gave you all more to use than an copy and paste complaint. Looks like Shawn Leon identified an opportunity for himself and the real investors with the acquisition of the property. How nice it is to be both landlord, manager and tenant. Pretty much a guaranteed investment don't you think? Looks like Shawn Leon had no trouble finding investors for that deal. 😆Unlike the deal described in the August 7th press release it looks like Shawn Leon has created yet another potential revenue stream for himself.


Ethema signs binding asset purchase agreement for all of the business assets of Edgewater Recovery Center LLC
News provided by Ethema Health Corporation Oct 22, 2024, 14:43 ET
https://www.prnewswire.com/news-releases/ethema-signs-binding-asset-purchase-agreement-for-all-of-the-business-assets-of-edgewater-recovery-center-llc-302283593.html

Certain of the Real Property associated with the operations of ERC are fully levered and requires credit and personal guarantees which the Company is unable to provide. This Real Property is to be acquired in a separate transaction by a fund controlled by the CEO of the Company, Shawn Leon, a related party, and will be leased to ARIA Kentucky on an arms-length basis, at market related rates.

Ethema Receives License for its Boca Raton facility
PR Newswire August 7, 2024
https://finance.yahoo.com/news/ethema-receives-license-boca-raton-144800579.html

With the large amount of real estate involved in the Kentucky locations, and given the Company's various real estate ownership in the past, the Company is now considering setting up a separate Real Estate Fund which would be financed outside of the Company while still allowing the Company to share in the upside of the appreciating value and development potential of the real estate. The real estate would not be carried on the Company balance sheet and no investment would be made by the Company in the real estate. The Company would still manage the real estate and have a 50% interest in the appreciating value of the real estate over and above its acquisition cost.