Ethema extends dates for debt repayment, real estate closing

Ethema Health Corporation has signed an extension and forbearance agreement with Leonite Capital Inc. extending the due date for its note due March 1, 2023. The Company will continue to pay interest on the note and it will be due May 8, 2023. The Company has also extended the closing on the purchase of the real estate at 950 Evernia Street for a period of 120 days from February 1, 2023 to June 1, 2023. Each successive thirty-day extension will cost the Company an increasing fee amount that would reach a total of $70,000.00 if all extensions are used. Although the Company has lined up financing with a partnership interest, it would require the Company to keep its valuable cash invested in the property over the long run. The Company is pursuing other options for the real estate ownership that would not only get the Company its deposit money out but allow it to get additional funds from the real estate which could be used to eliminate debt. The Company is nearing the completion of the definitive agreements on the previously announced acquisition. Once a final agreement is reached, there will be a short due diligence period followed by a thirty day closing period. The purchase of the acquisition will be funded by the financing raised by the Reg A+ offering. The Company is also nearing the Completion of a Letter of Intent for a lease location in Orlando, Florida for a de novo growth facility. The Reg A+ offering will soon have a new marketing plan and will soon be hosted on the Dealmaker platform. The Company experienced a short period of time where its website was not available during the process of integrating it into a new platform system that will be compatible with the new marketing plan and Dealmaker platform.