Empatho Holdings Inc. Announces Shares for Debt Settlement
Summary
The Settlement Shares are being issued at a price of $0.05, in accordance with the policies of the Canadian Securities Exchange (the "CSE").The Company is completing the Shares for Debt Transaction to improve its financial position by reducing its existing liabilities. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the debt settlement, which the Company deems reasonable in the circumstances as the Company wishes to improve its financial position by reducing its existing liabilities.Empatho Holdings Inc. is a virtual well-being firm focused on a smart solution powered by proprietary PsychAI artificial intelligence (AI), that strategically guides users to achieve individualized or personalized well-being goals. The Company provides a data-driven mobile application using advanced technology to engage individuals in the management of their own health, helping individuals become more productive and uncovering potential efficiencies and cost savings for employers.On behalf of the Board of DirectorsThis news release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements in this news release include statements with respect to the Shares for Debt Transaction, including the terms, timing, CSE approval and completion thereof.Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Companys ability to continue as a going concern and the continued approval of the Companys activities by the relevant governmental and/or regulatory authorities.These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, income tax and regulatory matters, the ability of the Company to execute its business strategies, the inability of the Companys proprietary applications to carry out the enumerated functions and risks associated with the Companys common shares trading on the CSE.Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Companys expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177224