Vancouver, British Columbia--(Newsfile Corp. - April 14, 2025) - Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM) (OTC Pink: DOCKF) ("Beyond Medical" or the "Company") is pleased to announce the successful closing of its previously announced non-brokered private placement financing for total gross proceeds of for total gross proceeds of $979,232.
The private placement involved the issuance of 8,987,677 units at a price of $0.109 per unit, with each unit comprising one common share in the capital of the Company. The securities are subject to a statutory hold period of four months and one day from the date of issuance, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.
The net proceeds will be used for general working capital and the strategic acquisition of ETH as an asset supporting the Company's blockchain-based medical attestation business. Concurrently, the Company is pleased to announce the acquisition of 408 ETH at an average price of $2,397 CAD per ETH.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Additional Disclosure
Tianrui Zhang, an insider holding more than 10% of the Company's outstanding shares, acquired or exercised control over a total of 1,100,000 units under the private placement. The placement to Mr. Zhang constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Notwithstanding the foregoing, the directors of the Company have determined that Mr. Zhang's participation in the private placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report 21 days prior to the closing of the private placement as the details of the participation of Interested Parties had not been confirmed at that time.
Immediately before completion of the private placement, Mr. Zhang beneficially owned and controlled 2,967,800 common shares and 1,467,800 common share purchase warrants, representing 12.73% of the Company's issued and outstanding common shares on a non-diluted and 17.90% on a partially diluted basis, assuming exercise of his warrants. Immediately after completion of the private placement, Mr. Zhang beneficially owned and controlled a total of 4,067,800 common shares and 1,467,800 common share purchase warrants, representing 12.59% of the Company's issued and outstanding common shares on a non-diluted basis and 16.39% on a partially diluted basis, assuming exercise of his warrants.
The units were acquired by Mr. Zhang for investment purposes. Mr. Zhang may, depending on market and other conditions, increase or decrease his beneficial ownership of or control or direction over the Company's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
A copy of the Early Warning Reports to be filed by Mr. Zhang in connection with the private placement described above will be available on the SEDAR+ profile of the Company at www.sedarplus.ca. The team can be contacted at danzliu94@gmail.com.
About Beyond Medical Technologies Inc.
Beyond Medical Technologies Inc. is a healthcare technology company integrating blockchain infrastructure to enhance patient outcomes and operational efficiency across the medical ecosystem.
On behalf of the Board of Directors
Daniel Liu, Chief Executive Officer
Email: danzliu94@gmail.com
https://beyond-md.co/
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the accuracy or adequacy of this release.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the anticipated use of proceeds of the offering and the allocation of ETH towards enhancing the Company's blockchain-based healthcare attestation platform.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will complete the offering on the terms and conditions expected, that the Company will use the proceeds of the offering as currently anticipated and that the Company will allocate the ETH as currently anticipated. Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not use the proceeds of the offering as currently anticipated, that the Company will not allocate the ETH as anticipated, or at all, market volatility, the state of the financial markets for the Company's securities, and political, legal and regulatory risks generally.
The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.
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SOURCE: Beyond Medical Technologies Inc.
