Mr. Nolan Reeds reports

MCI ONEHEALTH COMPLETES $1.5M DEBT FINANCING

MCI Onehealth Technologies Inc. has completed a transaction with The First Canadian Wellness Co. Inc. (the lender), a related party to the company, to add a new $1.5-million debt financing facility to the company's existing $7-million loan arrangement with the lender. The details of the financing and the related party aspects of the transaction are set out in the company's press release dated April 27, 2023.

The company was and is continuing to face financial challenges and liquidity constraints. While the new financing facility is expected to provide some assistance with the company's short-term liquidity needs, it is likely that the company will need to obtain additional sources of liquidity by the end of the month to continue to finance its continuing operations. Please refer to the company's press release dated May 15, 2023, for more information.

The company's April 27, 2023, and May 15, 2023, press releases are both available under the company's profile on SEDAR .

About MCI Onehealth Technologies Inc.

MCI is a health care technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality and reduce health care costs. As part of the health care community for over 30 years, MCI operates one of Canada's leading primary care networks with approximately 280 physicians and specialists and serves more than one million patients annually. MCI additionally offers an expanding suite of occupational health service offerings that support a growing list of more than 650 corporate customers. Led by a proven management team of doctors and experienced executives, MCI remains focused on executing a strategy centred around acquiring technology and health services that complement the company's current road map.

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