/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Sept. 15,
2023 /CNW/ - Newtopia Inc. ("Newtopia" or
the "Company") (TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled
whole health platform creating sustainable habits that prevent,
slow, and reverse chronic disease, today announced that, further to
its news release of September 11, 2023, it has
extended the maturity date of the subordinated and postponed 8.0%
secured non-convertible debentures, which were issued on
September 15, 2021 by way of
non-brokered private placement (collectively, the
"Debentures") on the terms previously announced.
Of the $2.545 million aggregate
principal amount of the Debentures, $1.735 million has been
extended by one year and such Debentures will now mature on
September 15, 2024. A further $780,000 of aggregate principal amount of the
Debentures have been extended by one month until
October 15, 2023 which allows the Company
additional time to complete the proposed non-brokered offering (the
"Offering") of subordinated and postponed 12% secured
non-convertible debenture units (the "Units") pursuant to
which Newtopia proposes to raise funds to repay the Debentures that
agreed to the one month extension plus any associated transaction
expenses.
The Company confirms it has received conditional approval of the
TSX Venture Exchange (the "TSXV") and the consent of the
Company's Schedule I bank secured lender for the extensions of the
Debentures and the Offering.
About Newtopia
Newtopia is a personalized whole health platform helping people
create positive lifelong habits that prevent, slow, or reverse
chronic disease while reducing healthcare costs. The platform
leverages genetic, social and behavioral insights to create
individualized prevention programs with a focus on metabolic
disease, diabetes, mental health challenges, hypertension, weight
management and musculoskeletal disorders. 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 and is currently
listed in Canada on the Toronto
Stock Exchange (TSXV: NEWU) and is quoted in the US on the
OTCQB® Venture Market (OTCQB: NEWUF). To learn
more, visit newtopia.com, LinkedIn or
Twitter.
To learn more, visit newtopia.com, Facebook, LinkedIn or
Twitter.
Forward Looking
Statements
This press 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, final approval of the TSXV and senior secured lender
approval of the Offering and Proposed Amendment, the completion of
the Offering, the use of proceeds from the Offering, 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.
Should any factor affect Newtopia 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 the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Newtopia Inc.