Treatment Announces Convertible Debenture Private Placement

VANCOUVER, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) — Treatment.com International Inc. (“Treatment or the “Company”) (CSE: TRUE; OTC: TREIF; FFA: 939), a global healthcare company that has developed a next-generation AI platform to help patients and caregivers around the world make better health decisions, announces the proceeding of a non-brokered private placement, raising aggregate gross proceeds of up to $1,250,000 in unsecured convertible debentures (the “Private Placement”).

Each debenture will consist of a $1 principal amount of unsecured, non-redeemable 8% convertible debentures, maturing 36 months from issuance, and convertible at the option of the debenture holder into units at the Company at a conversion price of $0.41 per unit. Upon conversion, each unit will be comprised of one common share and one common share purchase warrant, each warrant exercisable at a price of $0.50 for a period of two years from issuance.

Interest at a rate of 8% per annum will be paid to debenture holders monthly in arrears. At the election of the Company, interest may be paid in units of the Company issued at the prevailing market price of the Company’s common shares at the time of election by the Company.

The Company may pay finders’ fees in connection with the private placement. In addition to the statutory hold period as required under securities laws, the units issuable upon conversion of the debentures will be subject to a contractual hold period of twelve months from closing. The net proceeds of the private placement will be used for general working capital purposes.