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Lumiera Health changes their debt structure to allocate more cash for accelerated growth


MONTREAL, Feb. 25, 2022 /CNW Telbec/ - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of natural health products, is pleased to announce that it has entered into an amending agreement with its third party lender in respect of the outstanding Note, the principal amount of which currently stands at $1,325,000.

Lumiera Health Inc. Logo (CNW Group/Lumiera Health Inc.)

As part of the amendment agreed with the lender, the Company is reimbursing $325,000 in capital in order to reduce its principal amount to $1,000,000 and extend the loan's maturity date to December 1st, 2022. In addition, the Company and the lender agreed to extend certain of the covenants to provide the Company with flexibility in executing its accelerated growth plan.

Improved debt structure

As a part of its accelerate growth plan, Lumiera is continuing to identify savings and allocate those saving to inventory to support growth. With that focus, the Company entered into an agreement with a new lender, for an amount of $400,000. This amount will be used to paydown the current third party note and free-up cash flow in the short term; new loan has a two-year term and pays monthly interest at 12% plus 3% payable at maturity.

The Lender will receive 8,000,000 non-transferable warrants. Each warrant will entitle the holder to acquire one common share, at an exercise price of $0.05 per share, for a period of two years ending February 25, 2024. The Warrants will, unless exercised, expire on the 30th day after the Company pays back the note.

The new loan is subject to certain standard conditions including, but not limited to, the receipt of all necessary approvals including the acceptance of the TSX Venture Exchange.

About Lumiera Health

Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also commercializing a unique topical product line acting on the endocannabinoid system, without the use of cannabis, that provides an innovative solution for chronic pain and inflammation. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Our goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.

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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.

Forward-looking information

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions. Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2020, which is available under the issuer's SEDAR profile at Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera 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, Lumiera 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 Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

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SOURCE Lumiera Health Inc.

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