Ethema Health Corporation (OTCMKTS:GRST) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
On April 19, 2017, Eileen Greene (Greene), wife of CEO Shawn
Greene, advanced four hundred thousand and 00/100 Canadian
dollars ($400,000.00 CDN) to Ethema Health Corporation (the
Company) as a short term loan. The loan is interest free and
there are no fixed terms of repayment. The funds were used for
working capital purposes and to repay corporate debt. The Company
expects to repay this loan from proceeds of a mortgage
refinancing that it intends to complete on its Canadian property
in the very near future. On May 23, 2017 the Company sold a 25%
share of a $700,000 CDN second mortgage that is registered
against the Company’s Canadian property to Yonge – McNairn
Corporation Limited for net proceeds of $147,620.27. Yonge –
McNairn Corporation Limited already owned 50% of the mortgage.
Item 3.02Unregistered Sales of Equity
Securities.
On May 31, 2017 the Company settled a Consultant invoice of
$5,000 US with the issuance of 100,000 restricted shares of
Company common stock at the rate of $0.05 per share. The shares
have been issued.
In making the Consultant Issuance, Consultant made
representations to the Company that he individually met the
accredited investor definition of Rule 501 of the Securities Act,
and the Company relied on such representations. The Consultant
Issuance were offered and sold without registration under the
Securities Act, in reliance on the exemptions provided by Section
4(a)(2) of the Securities Act, as provided in Rule 506 of
Regulation D promulgated thereunder, and in reliance on similar
exemptions under applicable state laws.
The Consultant Issuance was not conducted in connection with a
public offering, and no public solicitation or advertisement was
made or relied upon by the Consultant in connection with the
offering. This Current Report on Form 8-K shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
such securities be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements.
[ page follows]
About Ethema Health Corporation (OTCMKTS:GRST)
Ethema Health Corp, formerly GreeneStone Healthcare Corporation, is a Canada-based company engaged in operating in the behavioral healthcare space specifically for the treatment of substance use disorders. The Company operates through two segments: Gastrointestinal Clinical Services, and Addiction and Rehabilitation Treatments. The Company has developed a treatment for in-patient treatment for adults. The Company owns the real estate and business assets of a healthcare clinic in Florida. The Company focuses on providing addiction and after-care treatment services, and endoscopy and other specialized medical procedures. The Company also offers out-patient counseling, coaching, intervention, psychological assessment, and other related services. The Company focuses on developing its programs in the United States. Ethema Health Corporation (OTCMKTS:GRST) Recent Trading Information
Ethema Health Corporation (OTCMKTS:GRST) closed its last trading session down -0.0010 at 0.0430 with shares trading hands.