Toronto, Dec. 7, 2020 /CNW/ - Newtopia Inc.
("Newtopia") (TSXV: NEWU), a tech-enabled disease prevention
company focused on healthy habit change, is pleased to announce
that it has closed the previously announced C$5 million senior secured operating facility
(the "Facility") with a leading Canadian Schedule 1 Bank
(the "Lender"). Principal terms of the Facility are
set out in the company's previous press release and available on
SEDAR at www.sedar.com.
"The closing of this debt facility marks the company's first
debt financing. We are excited to work with the Lender, who
through their Technology and Innovation team will become an
important partner for us as we build for the future." said
Jeff Ruby, founder and CEO of
Newtopia. "We are pleased that a leading Canadian bank has decided
to partner with Newtopia as the company builds towards its
future."
About Newtopia
Newtopia is a tech-enabled disease
prevention company focused on healthy habit change.
Newtopia's platform leverages genetic, social and behavioral
insights to create individualized prevention programs with a focus
on type 2 diabetes, heart disease, stroke and weight. With a
person-centered approach that combines virtual care, digital tools,
connected devices and actionable data science, Newtopia
delivers sustainable clinical and financial outcomes. Newtopia
serves some of the largest nationwide employers and health plans.
To learn more, visit newtopia.com.
Forward Looking Information
This news release contains forward-looking information and
forward-looking statements, within the meaning of applicable
Canadian securities legislation, and forward looking statements,
within the meaning of applicable United
States securities legislation (collectively,
"forward-looking statements"), which reflects management's
expectations regarding Newtopia's future growth, results from
operations (including, without limitation, future production and
capital expenditures), performance (both operational and financial)
and business prospects and opportunities. Wherever possible, words
such as "predicts", "projects", "targets", "plans", "expects",
"does not expect", "budget", "scheduled", "estimates", "forecasts",
"anticipate" or "does not anticipate", "believe", "intend" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative or grammatical variation thereof or
other variations thereof, or comparable terminology have been used
to identify forward-looking statements. All statements other than
statements of historical fact may be forward-looking information.
Such statements reflect Newtopia's current views and intentions
with respect to future events, based on information available to
Newtopia, and are subject to certain risks, uncertainties and
assumptions. Material factors or assumptions were applied in
providing forward-looking information. While forward-looking
statements are based on data, assumptions and analyses that
Newtopia believes are reasonable under the circumstances, whether
actual results, performance or developments will meet Newtopia's
expectations and predictions depends on a number of risks and
uncertainties that could cause the actual results, performance and
financial condition of Newtopia to differ materially from its
expectations. These forward-looking statements include, among
other things, the completion and advance of the Facility, clients
continuing to offer Newtopia's platform pursuant to agreements
entered into, statements relating to Newtopia's business plans and
outlook. Forward-looking statements are not a guarantee and are
based on a number of estimates and assumptions management believes
to be relevant and reasonable, whether actual results, performance
or developments will meet Newtopia's expectations and predictions
depends on a number of risks and uncertainties that could cause the
actual results, performance and financial condition of Newtopia to
differ materially from its expectations.. Certain of the "risk
factors" that could cause actual results to differ materially from
Newtopia's forward-looking statements in this press release
include, without limitation: the termination of contracts by
clients, risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities
to try to limit the pandemic, including travel restrictions, border
closures, non-essential business closures, quarantines,
self-isolations, shelters-in-place and social distancing,
disruptions to markets, economic activity, financing, supply
chains and sales channels, and a deterioration of general
economic conditions including a possible national or global
recession; and other general economic, market and business
conditions and factors, including the risk factors discussed or
referred to in Newtopia's disclosure documents, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com including Newtopia's final long form prospectus
dated March 30, 2020.
For more information on these risks please see the "Risk
Factors" in Newtopia's final long-form prospectus dated
March 30, 2020.Should any factor
affect Newtopia's in an unexpected manner, or should assumptions
underlying the forward- looking information prove incorrect, the
actual results or events may differ materially from the results or
events predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement. Moreover,
Newtopia does not assume responsibility for the accuracy or
completeness of such forward-looking information. The
forward-looking information included in this press release is made
as of the date of this press release, and Newtopia undertakes no
obligation to publicly update or revise any forward-looking
information, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Newtopia Inc.