/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Jan. 13,
2023 /CNW/ - CareSpan Health, Inc. (TSXV:
CSPN) ("Company" or "CareSpan"), announces that it has
entered into salary deferral agreements with certain employees and
Rembert de Villa, the Chief
Executive Officer and a Director of the Company, with respect to
salary payments deferred by these individuals during the 2022 year
(the "Salary Deferral Agreements").
Pursuant to the Salary Deferral Agreements, in settlement and
full satisfaction of the salary owed to these individuals in the
aggregate amount of CAD$167,937.58
(the "Deferred Salary"), the Company has agreed to issue an
aggregate of 1,311,288 common shares in the capital of the Company
(the "Common Shares") at a deemed price of CAD$0.12 per Deferral Share and pay a total of
CAD$10,582.88 in cash.
Rembert de Villa is a "Non-Arm's
Length Party" (as such term is defined under the policies of the
TSX Venture Exchange (the "TSXV")) of the Company.
The Company intends to issue the Common Shares in satisfaction
of the Deferred Salary on or about January
17, 2023.
The issuance of the Common Shares pursuant to the Debt
Settlement is subject to approval from the TSXV.
All Common Shares issued pursuant to the Debt Settlement are
subject to a hold period of four months plus a day from the date of
issuance of the Common Shares in accordance with applicable
securities legislation and the polices of the TSXV.
Shares for Services
As previously disclosed by the Company, the Company entered into
an arm's length consulting agreement dated June 1, 2022 (the "Consulting Agreement"),
pursuant to which a consultant shall provide certain work in
the IT and operations area of the Company as directed by the Chief
Executive Officer of the Company. As part of the consideration
payable by the Company under the Consulting Agreement, the Company
has agreed to issue that number of Common Shares equal to
USD$2,500 per month, to be issued on
a quarterly or semi-annual basis and pursuant to the policies
of the TSXV.
For services rendered under the Consulting Agreement between the
period of October 1, 2022 to
December 31, 2022, the Company
intends to issue 84,877 Common Shares at a deemed price of
CAD$0.12 per Common Share, subject to
the approval of the TSXV.
All Common Shares issued pursuant to the Consulting Agreement
are subject to a hold period of four months plus a day from the
date of issuance of the Common Shares in accordance with applicable
securities legislation and the polices of the TSXV.
About CareSpan Health
CareSpan is a healthcare technology and services company that
has developed and deployed a unique, proprietary integrated digital
care platform, the CareSpan Clinic-in-the Cloud™, that creates easy
access to care for the underserved. With a patient-centric approach
focused on improving health outcomes, CareSpan uses sophisticated
digital tools and capabilities to improve patient outcomes in
primary care, chronic care, urgent care, and mental health. In
addition to the integrated digital care platform, CareSpan has
built and deployed a business support infrastructure for its
professional networks, American-Advanced Practice Network and
AmericanMedPsych Network. American-Advanced Practice Network
harnesses the clinical capabilities of Nurse Practitioners to
address the shortage in primary and chronic care in the country.
American-MedPsych brings together providers to tackle shortages
mainly in mental health.
Clinic-in-the-Cloud is a trademark of CareSpan USA Inc., a subsidiary of CareSpan Health,
Inc.
ON BEHALF OF THE BOARD OF DIRECTORS:
"Rembert de
Villa"
Rembert de
Villa
Chief Executive Officer
For more information,
visit: www.carespanhealth.com
NOT FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY
ANY OF THE SECURITIES IN THE UNITED
STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES
ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR
SOLD WITHIN THE UNITED STATES OR
TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH
REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN
OFFER OR SALE OF SECURITIES IN THE UNITED
STATES.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements.
Forward-looking statements can be identified by the use of words
such as, "subject to", or variations of such words and phrases or
state that certain actions, events or results "may" or "will" be
taken, occur or be achieved. Forward-looking statements include
statements with respect to: receiving approval of the TSX Venture
Exchange with respect to the settlement of the Deferred Salary, and
the issuance of the Common Shares pursuant to the Consulting
Agreement. Forward-looking statements are based on assumptions,
including that CareSpan will receive approval from the TSXV with
respect to the issuance of the Common Shares pursuant to the Debt
Settlement, but the actual results may be materially different from
any future expectations expressed or implied by the forward-looking
statements. The forward-looking statements can be affected by known
and unknown risks, uncertainties and other factors, including, but
not limited to, the equity markets generally and a failure to
obtain the necessary approvals from the TSXV. Accordingly, readers
should not place undue reliance on forward-looking
statements.
Except as required by law, CareSpan undertakes no obligation
to publicly update any forward-looking statements, whether as a
result of new information, future events or otherwise.
The TSX-V and its Regulation Services Provider have not
approved the contents of, nor taken responsibility for the adequacy
or accuracy of, this press release.
SOURCE CareSpan Health, Inc.
