Health Logic Announces Closing of Shares in Debt Transaction



TSXV: CHIP.H

CALGARY, AB, November 5, 2021 / CNW / – Interactive Health Logic Inc. (“Health logic“or the”Society“) (TSXV: CHIP.H) (OTCPK: CHYPF) $ 178,860.34 in commercial debts owed to directors, insiders and consultants (together “the Group“) of the Company and its wholly owned subsidiary, My Health Logic Inc., into common shares in the capital of the Company (the”Settlement actions“) for services rendered by Consultants up to June 2021 (the “Debt settlement“).

Logo Health Logic Interactive Inc. (CNW Group / Health Logic Interactive Inc.)

Following receipt of final acceptance from the TSX Venture Exchange (“TSXV“) for the Settlement of the Debt, the Company issued 894,301 Settlement Shares to the Group at a deemed price of $ 0.20 by Settlement Action. The Settlement Shares were issued pursuant to certain prospectus exemptions available under Canadian securities legislation and are subject to a statutory hold period of four months and one day, which will expire on February 3, 2022.

Since 654,301 of the Settlement Shares were issued to officers, directors and insiders of the Company, the debt settlement was a “related party transaction” under Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101The Company has relied on exemptions from the formal minority valuation and approval requirements of NI 61-101 (in accordance with paragraphs 5.5 (a) and 5.7 (a)) such as the fair market value of the securities. distributed to, and the consideration received from, the related party did not exceed 25% of the market capitalization of the Company The debt settlement has been approved by all of the directors of the Company.

About the company

Health Logic Interactive, through its wholly owned operating subsidiary My Health Logic, develops and markets consumer-centric, portable point-of-service diagnostic devices that connect to patient smartphones and digital healthcare platforms. continuous. The Company plans to use its patent-pending lab-on-a-chip technology to deliver rapid results and facilitate the transfer of this data from the diagnostic device to the patient’s smartphone. The Company expects this data collection to enable it to better assess patient risk profiles and provide better patient outcomes. Our mission is to empower people to achieve early detection anytime, anywhere through actionable digital management of chronic kidney disease. For more information, visit us at: www.healthlogicinteractive.com

Further information regarding Health Logic Interactive Inc. and its disclosure documents are available on SEDAR at www.sedar.com.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Notes

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, the strategy, plans, objectives, goals and targets of the Company, and all preceding statements, followed by or which include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “could”, “would”, ” anticipate “,” estimate “,” anticipate “,” predict “,” project “,” seek “,” should “or similar or negative expressions thereof, are forward-looking statements. These statements are not facts historical figures but represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ significantly from what is expressed, implied or intended in these forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, without limitation, the risk factors discussed in the Company’s MD&A for the three and six months ended June 30. 2021. Management provides forward-looking statements because it believes they provide information useful to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Accordingly, all forward-looking statements made in this press release are qualified by these and other cautionary statements or factors contained herein, and there can be no assurance that actual results or developments will be achieved or, even s ‘they are substantially realized, that they will have the consequences or the expected effects on the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. required.

SOURCE Health Logic Interactive Inc.

Cision

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