CARESPAN CLOSES ADDITIONAL DEBT FINANCING
Summary
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/VANCOUVER, BC, May 24, 2023 /CNW/ - CareSpan Health, Inc. (TSXV: CSPN) ("Company" or "CareSpan"), is pleased to announce that it has arranged an additional interim debt financing in the amount of USD$20,000 (the "Loan") with an officer of the Company (VP of Software Development), Justin Ho (the "Lender"). The Loan is unsecured and matures in one year from the date of issuance, when the principal and all accrued and unpaid interest are due in full. Pursuant to the terms of the Loan, the Lenders have the option in the future to convert, fully or partially, the outstanding Loan and accrued interest into Common Shares solely during periods in which the Company is undergoing a qualified equity financing by way of debt, equity or some combination thereof for aggregate gross proceeds of at least CAD$1 million (the "Conversion Option"). American-Advanced Practice Network harnesses the clinical capabilities of Nurse Practitioners to address the shortage in primary and chronic care in the country. 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 approval from the TSX Venture Exchange.
Funding
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