BELLEVUE, Wash., June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Novo Integrated Sciences, Inc. (OTCQB: NVOS) (“Novo Integrated Sciences” or “the Company”) is pleased to announce it has executed a Term Sheet with FundingNet Corporation to provide the Company with a wholesale loan facility, totaling $24 Million, earmarked for the Company to use in the ordinary course of business expenditures. The Term Sheet provides for a 48-month term and an interest rate, to accrue and be paid or capitalized on a quarterly basis on the outstanding principal, calculated at the U.S. 12-month Libor rate published by the Intercontinental Exchange plus two hundred (200) basis points.
Mr. Robert Mattacchione, Novo Integrated Sciences’ CEO and Board Chairman, stated, “Securing this non-dilutive debt-based funding will allow Novo the opportunity to fully activate its primary growth strategies which include, but are not limited to, key acquisitions, health-tech implementation and medicinal agricultural development. The non-dilutive structure of this loan facility is key to maximizing shareholder value; as well as affirming third party confidence in the Company’s business model and growth strategy. In addition to the strategic relationship created with FundingNet Corp., Novo Integrated Sciences is equally pleased to introduce Matthew Bassett and Bassett Financial Corp. to our team of capital advisors as the Company pursues additional debt-based finance solutions in the future to enhance both top line growth and bottom-line performance.”
About Novo Integrated Sciences, Inc.
Through Novo Healthnet Limited (“NHL”), our wholly owned Canadian subsidiary, we deliver multi-disciplinary primary healthcare to over 400,000 patients annually through our 15 corporate-owned clinics and a contracted network of 97 affiliate clinics and 222 eldercare centric homes located across Canada. Our team of practitioners and staff are trained for assessment, diagnosis, treatment, pain management, rehabilitation and primary prevention. Our specialized services and products include physiotherapy, chiropractic care, occupational therapy, eldercare, laser therapeutics, massage therapy, acupuncture, chiropody, neurological functions, kinesiology, concussion management and baseline testing, women’s pelvic health, sports medicine therapy, assistive devices and private personal training. We do not provide primary care medical services, none of our employees practices primary care medicine, and our services do not require a medical or nursing license.
As we continue to build our health science platform of services and products through the integration of technology and rehabilitative science, one component of our lateral business growth strategy includes developing business units centered on the direct control of the grow, extraction, manufacturing and distribution processes for hemp and medical cannabidiol products. Additionally, we continue to expand on our patient care philosophy of maintaining an on-going continuous connection with our patient community, beyond the traditional confines of a clinic, by extending oversight of patient diagnosis, care and monitoring, directly into the patient’s home, through various mobile telemedicine and diagnostic tools.
For more information concerning Novo Integrated Sciences, please visit www.novointegrated.com. For more information on NHL, please visit www.novohealthnet.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in Novo Integrated Sciences’ filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond Novo Integrated Sciences’ control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Novo Integrated Sciences’ current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Novo Integrated Sciences assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The contents of any website referenced in this press release are not incorporated by reference herein.
Chris David, President
Novo Integrated Sciences, Inc.
cdavid@novointegrated.com
(206) 617-9797