MyCare MedTech Inc. renews agreement with Bright.md Plus they not only renewed but invested more cash in them
MyCare MedTech Inc. renews agreement with Bright.md
Premier Diversified is very pleased to announce that MMI has renewed its partnership with Bright.md for the GOeVisit on-line telehealth service. Premier Diversified is excited to work with MMi's long-term initiatives in telemedicine.
Amended loan agreement with MyCare MedTech
Premier entered into a loan agreement with MyCare MedTech (MMI) on Sept. 4, 2019, which was subsequently amended in December, 2019, January, 2020, and February, 2020. This loan agreement was amended again in June, 2020. The amended agreement changed the previous secured loan made to MMI by increasing the principal amount which may be loaned by Premier to MMI from $500,000 to up to $610,000. The MMI loan has staggered maturity dates: Sept. 3, 2021, for up to the first $250,000 of the principal amount; Dec. 16, 2020, for the principal amount of $250,001 to $400,000; Jan. 29, 2021, for the principal amount of $401,000 to $450,000; Feb. 26, 2021, for the principal amount of $450,001 to $500,000 and June 17, 2021, for the remainder of the principal amount.
The MMI loan bears interest at a rate of 9 per cent per annum. The MMI loan is secured with all of the present and after-acquired property of MMI. The MMI loan is repayable by MMI at any time without penalty. The MMI loan is subject to review and acceptance by the TSX Venture Exchange.
Premier Diversified increases investment in MyCare MedTech
Premier entered into subscription agreements to acquire Class B Preferred shares of MMI in August, September, October and November, 2020. A total of 1,653,846 shares were acquired at 26 cents per share for an aggregate purchase price of $430,000.