Subject: Treatment.com - April 5 NR
Word Document
File: '\\swfile\EmailIn\20240405 151032 Attachment 2024_04_05 TRUE NR closing of debt settlement transaction, marketing agreement.docx'
Treatment
TREATMENT.COM AI INC.
CLOSES DEBT SETTLEMENT TRANSACTIONS
Vancouver, British Columbia, April 5, 2024 - Treatment.com AI Inc. (the "Company" or "Treatment") (CSE: TRUE; OTC: TREIF; FFA: 939) is pleased to announce that, further to its news release dated March 21, 2024, it has closed the debt settlement transaction with certain arms' length creditors (the "Creditors") to settle an aggregate of CAD$457,362.85 in debt (the "Debt"). The Debt relates to outstanding principal and accrued interest on the Company's 8% unsecured convertible debentures issued on May 17, 2022.
In settlement of the Debt, the Company has issued an aggregate of 1,143,403 units of the Company (the "Units") at a deemed price of $0.40 per Unit (the "Debt Settlement"), with each Unit comprised of one common share in the capital of the Company (a "Share") and one-half of one Share purchase warrant (each whole warrant a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional Share (a "Warrant Share") at a price of $0.60 per Warrant Share for a period of 24 months from the date of issuance.
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Further, the Company announces that the Company has engaged Aktiencheck.de AG of Bad Marienberg, Germany ("Aktiencheck") to provide a European marketing awareness program for the Company for a period of two (2) weeks commencing on April 8, 2024, in consideration of a payment of EUR50,000. Aktiencheck does not currently own any interest, directly or indirectly, in the Company or its securities.
The securities issued pursuant to the Debt Settlement have will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Treatment.com AI Inc.
Treatment.com AI provides solutions for medical education and clinical information support. The Medical Education Suite (MES) provides case-based clinical decision-making testing, grading and remedial action support for the next generation of healthcare professionals. The goals for MES are to enable better performance for Medical School students in their national exams (including OSCE) and for Schools, to reduce administration and exam creation costs, as well as minimizing valuable time for faculty in administering and grading exams.
FOR ADDITIONAL INFORMATION, CONTACT:
Dr. Essam Hamza, CEO
ehamza@treatment.com
If you would like to find out more about Treatment's products and services, please email: info@treatment.com
For media enquiries contact: media@treatment.com
Call: +1 (612) 788-8900 / Toll Free USA/Canada: +1 (888) 788-8955
Cautionary Statement
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy of accuracy of this news release.
This news release contains forward-looking statements relating to the future operations of Treatment and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Debt Settlement, the entering into and consummation of the debt settlement agreements with the Creditors, and the Closing of the Debt Settlement are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Treatment's expectations include other risks detailed from time to time in the filings made by Treatment with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Treatment. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Treatment will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.
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