Mr. Olivier Giner reports

CAREBOOK ANNOUNCES RENEWAL AND AMENDMENT OF CREDIT FACILITIES

Carebook Technologies Inc. has renewed and amended its existing senior credit facilities with a leading Canadian Schedule I bank (the lender), effective as of Oct. 19, 2023. Under the amendment, the lender has agreed to: (i) continue providing the company with a $3-million revolving facility; and (ii) be subrogated to all rights of its affiliate regarding a $1.4-million non-revolving term loan facility. Moreover, the maturity date of credit facilities has been extended until Sept. 30, 2024.

Beginning on the renewal date, the applicable margin on the revolving facility has been decreased to 5.8 per cent over prime, and the applicable margin on the term loan facility has been decreased to 5.3 per cent over prime. Applicable margins under both facilities are subject to additional reductions should the company complete an additional capital raise for aggregate minimum gross proceeds equal to $2-million on or before the maturity date.

The term loan facility is subject to mandatory monthly prepayments of $50,000 on the 15th of each month, commencing on Nov. 15, 2023, such that the term loan facility will be reduced to $800,00 by the maturity date. As at the date hereof, the term loan facility has been fully drawn and the company may not borrow any other borrowings under the term loan facility.

The credit facilities are subject to new financial covenants, where the company must maintain a minimum cash runway and demonstrate minimum revenue growth.

The credit facilities continues to be secured by a first-ranking security interest in all of the present and future property and assets of the company, and certain of its subsidiaries.

"We are pleased to confirm the renewal of our credit facilities and the continued support from our lender," stated Olivier Giner, chief financial officer of Carebook. "We are also currently evaluating various financing opportunities and expect to make additional announcements in the near future as definitive plans are being finalized."

About Carebook Technologies Inc.

Carebook's digital health platform empowers its clients and more than 3.5 million members to take control of their health journey. During 2021, the company completed the acquisitions of InfoTech Inc., a global leader in health and productivity risk management, and CoreHealth Technologies Inc., owner of an industry-leading wellness platform. In combination, these companies create a comprehensive digital health platform that includes both assessment tools and the technology to deliver complementary solutions.

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