Mednow Announces Senior Secured Convertible Debenture Financing by Mednow Management
Summary
This investment, when combined with previous investments he has made directly or indirectly in Mednows stock, will cumulatively represents over $2,645,000 since the companys initial public offering in March 2021.The Convertible Debenture will bear interest at a rate of 12.0% per annum and mature eighteen (18) months following the date of issuance (the "Maturity Date"). The Company will rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation.The Offering remains subject to receipt of TSXV approval and all other necessary regulatory approvals.About Mednow (TSXV: MNOW) (OTCQX: MDNWF) Mednow is a healthcare technology company offering virtual access with a high-standard of care. Designed with accessibility and quality of care in mind, Mednow provides virtual pharmacy and telemedicine services as well as doctor home visits through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednows services include free at-home delivery of medications, doctor consultations, a user-friendly interface for easy upload, transfer, and refill of prescriptions, access to healthcare professionals through an intuitive chat experience and the specialized PillSmart system that packages prescriptions in easy to use daily dose packs, each labelled with the date and time of the next dose.To learn more, follow Mednow on Facebook, Twitter, LinkedIn, and Instagram, or visit our website at www.mednow.ca/.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.
Funding
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