Debt financing

My Health Logic announces debt financing

TSXV: CHIP.H

CALGARY, AB, September 8, 2021 / CNW / – Interactive Health Logic Inc. (“Health logic“or the”Society“) (TSXV: CHIP.H) (OTCPK: CHYPF) is pleased to announce today that its wholly owned operating subsidiary, My Health Logic Inc., (“My Health logic“or the”Subsidiary company“) received a short-term loan from $ 585,000 CAD (the “To lend“) in the form of unsecured promissory notes (the”Remarks“) from BWL Investments Ltd. (“BWL Investments“), an insider of the Company and two arm’s length third party investors (together with BWL Investments, the”Lenders“).

The Notes are unsecured, bear interest at a rate of nine percent (9%) per annum and mature on August 12, 2022. My Health Logic may repay part or all of the loan at any time (with no repayment charge advance payment or penalty of any kind) by giving advance notice to Lenders.

The loan is expected to be used for the continued development of My Health Logic’s lab-on-a-chip and MATLOC products, as well as software development costs, regulatory costs for a planned US submission, and drugs (the “FDA submission“) and to finance the working capital of My Health Logic.

In accordance with Multilateral Instrument 61-101 Protection of holders of minority securities in special transactions (“MI 61-101“), the Loan will constitute a” related party transaction “like Mr. Braeden Lichti controls BWL Investments and beneficially exercises control or direction of more than 10% of the common shares of the Company. The Company relied on the exemptions from the formal minority assessment and approval requirements of NI 61-101 (in accordance with paragraphs 5.5 (a) and 5.7 (a)) because the fair market value of the consideration received from BWL Investments will not exceed 25% of the Company’s market capitalization. The Loan has been approved by all the directors of the Company and the Subsidiary.

About the company

Health Logic Interactive, through its wholly owned operating subsidiary My Health Logic, develops and markets consumer-centric, portable point-of-service diagnostic devices that connect to patient smartphones and digital healthcare platforms. continuous. The company plans to use its patent-pending lab-on-a-chip technology to deliver rapid results and facilitate the transfer of this data from the diagnostic device to the patient’s smartphone. The Company expects this data collection to enable it to better assess patient risk profiles and provide better patient outcomes. Our mission is to empower people to achieve early detection anytime, anywhere through actionable digital management of chronic kidney disease. For more information, visit us at: www.healthlogicinteractive.com.

Further information regarding Health Logic Interactive Inc. and its disclosure documents are available on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Notes

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the loan, including the intended use of the loan and its repayment schedule, completion of the loan submission to the FDA and the strategy, company plans, objectives, goals and targets, and all statements preceded, followed by or which include the words “believe”, “expect”, “aim”, “Intend”, “,”, “would”, “anticipate”, “estimate”, “foresee”, “predict”, “plan”, “seek”, “should” or similar or negative expressions of these are forward-looking statements. These statements are not historical facts but represent only the expectations, estimates and projections of the Company concerning future events. These statements are not guarantees of future performance and involve assumptions s, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or expected in these forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, without limitation, the risk factors discussed in the Company’s MD&A for the year ended December 31, 2020. Management provides forward-looking statements because it believes they provide information useful to investors when considering their investment objectives and caution investors not to place undue reliance on forward-looking information. Accordingly, all forward-looking statements made in this press release are qualified by these and other cautions or factors contained herein, and there can be no assurance that actual results or developments will be achieved. or, even if they are substantially realized, that they will have the consequences or the expected effects on the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. required.

SOURCE Health Logic Interactive Inc.

For further information: George Kovalyov, Director, [email protected], 1-877-456-4424

Related links

https://www.healthlogicinteractive.com/


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