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Jolt Health issues shares for debenture, note interest

2023-05-25 22:37 ET - News Release

Also News Release (C-LUV) Love Pharma Inc (2)

An anonymous director reports

JOLT HEALTH INC. ANNOUNCES ISSUANCE OF COMMON SHARES IN SATISFACTION OF INTEREST PAYMENTS TO PROMISSORY NOTE HOLDERS AND INTEREST PAYMENT TO CONVERTIBLE DEBENTURE HOLDER

Pursuant to a 10 per cent interest-bearing convertible debenture issued on Oct. 12, 2022, Jolt Health Inc. (formerly Love Pharma Inc.) has issued a total of 13,765,763 common shares at 1.5 cents per common share in satisfaction of the aggregate interest payment owed by the issuer of $195,000 to a debentureholder. In addition, pursuant to promissory notes dated Jan. 23, 2020, and extended to Dec. 31, 2023, the issuer issued a total of 6,116,913 common shares at 15 cents per common share in satisfaction of the aggregate per annum interest rate of 5 per cent owing on the promissory notes.

The common shares are being issued to arm's-length parties and are subject to a four-month hold period. The shares-for-debt settlement is subject to the approval of the Canadian Securities Exchange.

About Jolt Health Inc.

With a focus on the global sexual health and wellness markets, Jolt Health, formerly Love Pharma (Canadian Securities Exchange: JOLT) (Frankfurt Stock Exchange: G1Q0) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Jolt Health holds exclusive licences to produce market, package, sell and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom and North America.

We seek Safe Harbor.

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