TORONTO, Aug. 23,
2022 /CNW/ - The Well Told Company Inc. ("Well
Told" or the "Company") (TSXV: WLCO) (FSE: 7HO), the
female-founded wellness company that offers plant-based
supplements, remedies, and other functional wellness products,
announces that in accordance with the terms of the debenture
indenture entered into between the Company and Endeavor Trust
Corporation dated March 29, 2022 (the
"Indenture") in respect of 9.0% unsecured subordinated
convertible debentures in the aggregate principal amount of
$1,275,000 (the "Debentures"),
the Company has elected to issue common shares in the capital of
the Company ("Common Shares") in satisfaction of an
anticipated aggregate total of approximately $48,729.45 in interest payable to the holders of
the Debentures on August 31, 2022
(the "Interest Payment Date").
The Debentures bear interest at the rate of 9.0% per annum.
Under the terms of the Indenture, interest on the Convertible
Debenture is payable semi-annually, in arrears, on August 31 and February
28 in each year. The Common Shares will be issued at a
deemed price per share equal to the Market Price (as such term is
defined in Policy 1.1 of the TSX Venture Exchange Corporate Finance
Manual) of the Common Shares on the Interest Payment Date.
The issuance of the Common Shares as payment for interest owing
on the Debentures is subject to the terms and conditions of the
Indenture as well as the receipt of all requisite approvals,
including, without limitation, the approval of the TSX Venture
Exchange. If required by the TSX Venture Exchange, the Common
Shares issued in consideration for the interest owing on the
Debentures will bear the appropriate legends.
About The Well Told Company
Inc.
Well Told is a female-founded, emerging plant-based wellness
company that formulates, develops, distributes and sells a variety
of supplements, remedies and other functional wellness products.
Founded by serial entrepreneur and award-winning leader
Monica Ruffo, it was after
undergoing treatment for breast cancer, and deciding to take her
health into her own hands that she discovered the lack of
transparency and availability of clean, plant-based formulations in
the wellness industry. With the mission "Clean wellness for all",
Well Told's products are currently available in over 2,000 stores
across Canada including several
well-known retailers and recently launched in over 1,000 pharmacies
in the U.S. in addition to being available at welltold.com and on
Amazon.
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.
Certain statements contained in this press release constitute
"forward-looking information" as such term is defined in
applicable Canadian securities legislation. The words "may",
"would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect"
and similar expressions as they relate to the Company are intended
to identify forward-looking information, including: statements
with respect to the receipt of all approvals of the TSX Venture
Exchange and other regulatory approvals, statements with respect to
the Company's future business operations, the opinions or beliefs
of management and future business goals. All statements other than
statements of historical fact may be forward-looking information.
Such statements reflect the Company's current views and intentions
with respect to future events, and current information available to
the Company, and are subject to certain risks, uncertainties and
assumptions. Many factors could cause the actual results,
performance or achievements that may be expressed or implied by
such forward-looking information to vary from those described
herein should one or more of these risks or uncertainties
materialize. Examples of such risk factors include, without
limitation: credit; market (including equity, commodity, foreign
exchange and interest rate); liquidity; operational; reputational;
insurance; strategic; regulatory; legal; environmental; the
general business and economic conditions in the regions in which
the Company operates; the ability of the Company to execute on key
priorities; the Company's results of operations may be difficult
to forecast; the Company is a holding company with its only asset
being direct ownership of Well Told Inc.; the Company's success
depends upon the continued strength of its reputation and brands;
disruptions in manufacturing facilities or losses of site licenses
and other qualifications could adversely affect sales and customer
relationships; the Company's success depends on its ability to
continue to enhance products and develop new products; the
Company's suppliers and sources for materials and inputs may fail
to support demand and increasing raw material costs could
adversely affect margins; the Company is reliant on third parties
for shipping and payment processing; the Company's ability to
compete could be negatively impacted if it is unable to protect
its intellectual property rights; the ability to implement business
strategies and pursue business opportunities; disruptions in or
attacks (including cyber-attacks) on the Company's information
technology, internet, network access or other voice or data
communications systems or services; the evolution of various types
of fraud or other criminal behavior to which the Company is
exposed; the failure of third parties to comply with their
obligations to the Company or its affiliates; the impact of new
and changes to, or application of, current laws and regulations;
granting of permits and licenses in a highly regulated business;
the overall difficult litigation environment; increased
competition; changes in foreign currency rates; increased funding
costs and market volatility due to market illiquidity and
competition for funding; the availability of funds and resources to
pursue operations; critical accounting estimates and changes to
accounting standards, policies, and methods used by the Company;
the occurrence of natural and unnatural catastrophic events and
claims resulting from such events; and risks related to COVID-19
including various recommendations, orders and measures of
governmental authorities to try to limit the pandemic, including
travel restrictions, border closures, non-essential business
closures, quarantines, self-isolations, shelters-in-place and
social distancing, disruptions to markets, economic activity,
financing, supply chains and sales channels, and a deterioration of
general economic conditions including a possible national or
global recession; as well as those risk factors discussed or
referred to in the Company's disclosure documents filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should any factor affect the Company in an
unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, the Company does
not assume responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this
press release and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
SOURCE Well Told Inc.