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Unidoc Health Corp
Symbol UDOC
Shares Issued 76,350,090
Close 2025-04-03 C$ 0.31
Market Cap C$ 23,668,528
Recent Sedar Documents

Unidoc Health to issue 266,400 shares for debt

2025-04-03 17:48 ET - News Release

Mr. Antonio Baldassarre reports

UNIDOC ANNOUNCES DEBT SETTLEMENT AND RENEWS MARKETING ENGAGEMENT

Unidoc Health Corp. intends to settle $93,240 (equivalent to approximately 60,000 euros) in debt owed to a certain creditor of the company by issuing approximately 266,400 common shares of the company at a deemed price of 35 cents per share. The creditor is a company controlled by a director of the company.

The company intends to complete the debt settlement to preserve the company's cash for working capital and improve its financial position by reducing its existing liabilities. The debt settlement is expected to close shortly, subject to customary closing conditions, including, but not limited to, finalizing all contractual documentation and receipt of all applicable regulatory approvals, as applicable, including compliance with the policies of the Canadian Securities Exchange.

The debt settlement shares will be subject to a four-month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

As the debt settlement shares will be issued to a company controlled by a director of the company, the debt settlement will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The debt settlement is exempt from the formal valuation requirements and minority shareholder approval requirements of MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a) as the value of the common shares issued in the debt settlement will not exceed 25 per cent of the company's market capitalization.

Further to the company's news release of Nov. 20, 2024, the company is also pleased to announce it has exercised its option to extend its engagement with Rumble Strip Media Inc. to provide certain social media, marketing and consulting services to Unidoc for an additional period of three months beginning on April 4, 2025. The services may include investor relations activities within the meaning of applicable securities laws and the policies of the CSE. In consideration for the extension, the company has agreed to pay Rumble $500,000 (U.S.) plus applicable taxes. Rumble and its principal are arm's length to the company, and, to the knowledge of the company, Rumble does not own, control or direct any securities of the company. Rumble Strip Media Inc. (address: No. 893 250-997 Seymour St., Vancouver, B.C., V6B 3M1; e-mail: info@rumblestrip.ca) is a Vancouver-based media and consulting firm.

In accordance with Policy 7.2 of the CSE, the company believes that the renewed engagement of Rumble is consistent with its financial resources and level of operations. Specifically, the company has raised a total of approximately $3.7-million from private placements and a further $9.7-million from the exercise of convertible securities since incorporation. The company's ability to continue to raise capital through private placements and convertible securities depends in large part on maintaining liquidity in its stock, which the company believes is greatly assisted through undertaking investor awareness campaigns. The cost of effective investor awareness campaigns is generally fixed and necessary costs, which is a factor of the cost to buy ad space on-line. The company has been pleased with the effectiveness of Rumble's services and believes that continuing to engage Rumble will assist it in meeting its goals.

About Unidoc Health Corp.

Unidoc is developing an e-health solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician's office. e-health opens the doors to a large segment of the population challenged by access, experience or understanding of on-line computer technology. It is the company's belief that physical accessibility is the key to its business proposition. Unidoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited time frame.

We seek Safe Harbor.

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