Evome Medical Technologies Executes Non-Binding Letter of Intent to Extend Remaining Simbex Acquisition Debt to June 2025; Increases Sales Targets by 7.5% for Biodex Distribution Contracts; Raises Biodex Product Pricing by 2% for 2024
Evome Medical Technologies Executes Non-Binding Letter of Intent to Extend Remaining Simbex Acquisition Debt to June 2025; Increases Sales Targets by 7.5% for Biodex Distribution Contracts; Raises Biodex Product Pricing by 2% for 2024
NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Evome Medical Technologies Inc. (the "Company" or "Evome") has executed a non-binding letter of intent (LOI) to extend acquisition debt of US$3,294,440 to the sellers of Simbex, LLC ("Simbex") to June 30, 2025. In exchange for the extensions, the Company intends to grant the Simbex sellers (i) a subordinated security interest in all non-Biodex assets, (ii) a 10% annual interest rate on the amount due from April 14, 2023 to the due date, (iii) cash payments when free cash flow balances of the Company exceed $500,000 after payments to other creditors with priority, and (iv) a waiver from the contractual restriction from holding more than 500,000 common shares of Evome (the "Common Shares") at any one time. As part of the transaction, Simbex sellers have indicated an intention to convert the 4,640,708 Class A non-voting shares (the "Class A Shares") still held into Common Shares.
紐約，2024年2月8日（環球新聞專線）——Evome Medical Technologies Inc.（“公司” 或 “Evome”）簽署了一份不具約束力的意向書（LOI），將Simbex, LLC（“Simbex”）賣方的3,294,440美元的收購債務延長至2025年6月30日。作爲延期的交換，公司打算授予Simbex賣方（i）所有非Biodex資產的次級擔保權益，（ii）從2023年4月14日至到期日到期日的到期金額的10％的年利率，（iii）在向其他優先債權人付款後公司的自由現金流餘額超過50萬美元時支付現金，以及（iv）免除持有超過50萬股普通股的合同限制 Evome（“普通股”）的任意時間。作爲交易的一部分，Simbex賣方表示打算將仍持有的4,640,708股A類無表決權股票（“A類股票”）轉換爲普通股。
The Company has increased sales targets by 7.5% for all distributors in the United States as well as raising Biodex product prices 2% on all products effective January 1, 2024 for the US market. The management believes these new targets and price increases should have a positive impact on the current quarter.
該公司已將美國所有分銷商的銷售目標提高了7.5％，並將美國市場所有產品的Biodex產品價格提高了2％，自2024年1月1日起生效。管理層認爲，這些新目標和價格上漲將對本季度產生積極影響。
"I am pleased we were able to restructure and extend this last part of our acquisition debt obligation," said Mike Seckler, CEO of Evome Medical Technologies Inc. "This enables the Company to use capital in the coming quarters to accelerate growth and work towards building cash on our balance sheet. 2024 is shaping up to be an exciting year for us. We have two new products we expect to launch shortly. We have a new sales and marketing team that has improved our distribution contracts by incorporating performance metrics including volume minimums. We have reorganized the board of directors and the top management to focus on our business plan. This debt extension follows my plan to provide time and space to execute our business plan over the next 18 months. As part of the negotiations with the Simbex sellers, we made sure this debt extension did not violate any of the terms of our previous agreement executed with holders of our other acquisition debt and our current bank lines."
Evome Medical Technologies Inc.首席執行官邁克·塞克勒說：“我很高興我們能夠重組和延長收購債務的最後一部分。這使公司能夠在未來幾個季度使用資本來加速增長並努力在資產負債表上積累現金。2024年對我們來說將是激動人心的一年。我們預計不久將推出兩款新產品。我們有一個新的銷售和營銷團隊，通過納入包括最低銷量在內的績效指標，改善了我們的分銷合同。我們重組了董事會和高層管理人員，將重點放在業務計劃上。此次債務延期遵循我的計劃，即在未來18個月內爲執行我們的業務計劃提供時間和空間。作爲與Simbex賣方談判的一部分，我們確保此次債務延期沒有違反我們先前與我們的其他收購債務和當前銀行額度持有人簽訂的協議的任何條款。”
For more information please contact:
欲了解更多信息，請聯繫：
Mike Seckler
Chief Executive Officer
Tel: 1 (800) 760-6826
Email: info@evomemedical.com
邁克·塞克勒
首席執行官
電話：1 (800) 760-6826
電子郵件：info@evomemedical.com
Additional Information
附加信息
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.
多倫多證券交易所風險交易所及其監管服務提供商（該術語在the 多倫多證券交易所風險投資交易所的policies 中定義）均不對本release 的充分性或準確性承擔責任。
Unless otherwise specified, all dollar amounts in this press release are expressed in Canadian dollars.
除非另有說明，否則本新聞稿中的所有美元金額均以加拿大元dollars 表示。
Certain statements contained in this press release constitute "forward-looking information" within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as "expects" "believes", "estimates", "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", and "anticipate", and similar expressions as they relate to the Company, including: the Company executing a definitive agreement with the Simbex sellers and closing the transaction as contemplated by the LOI disclosed herein; and the timing and number of products the Company intends to launch. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: the successfully negation and execution of a definitive agreement related to the LOI disclosed herein; the Company receiving all necessary approvals for the transaction described herein; and all conditions to closing the transaction described herein being satisfied or waived. The Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include but are not limited to the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; ongoing or new disruptions in the supply chain, the extent and scope of such supply chain disruptions, and the timing or extent of the resolution or improvement of such disruptions; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the United States; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in the Company's disclosure documents filed with United States Securities and Exchange Commission and available at www.sec.gov, and with the securities regulatory authorities in certain provinces of Canada and available at . Should any factor affect the Company 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, the Company 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 the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
本新聞稿中包含的某些陳述構成meaning ofthe《私人證券訴訟改革法》和適用的加拿大證券laws 中的 “前瞻性信息”。這些陳述可以be 通過使用諸如 “期望” “相信”、“估計”、“可能”、“會”、 “可以” 等前瞻性術語來識別， “應該”、“潛在”、 “會”、“尋找”、“打算”、 “計劃” 和 “預測”，以及與relateto 公司類似的表述，包括：公司與公司簽訂最終協議Simbex按照此處披露的意向書的設想賣出並完成交易；以及公司打算推出產品的時間和數量。除historical 事實陳述外，所有statementsother 都可能是前瞻性的 信息。這樣statementsreflect 公司目前對未來events 的看法和意圖，以及current 信息availableto 公司，並面臨某些風險，uncertainties 和assumptions，包括：成功否定和執行與本文披露的意向書有關的最終協議；公司獲得所有必要的批准for 本文所述的交易；以及所有conditions 以完成本文所述的交易感到滿意或被放棄。該公司警告說，包含herein 的the 前瞻性陳述受重要factors 的限定，這可能會導致actual 業績與such 陳述所反映的結果存在重大差異。這些因素include 但是are 不限於general 業務和economicconditionsregions inwhich the Companyoperates；公司執行密鑰的能力priorities，includingsuccessful 完成ofacquisitions、業務 留存和 戰略計劃和吸引、發展and 留住關鍵executives；困難integrating 新收購的企業；ongoing 或者供應出現新的中斷chain，extent 和such 供應鏈中斷的範圍，以及解決問題的時機或程度or 改善such 中斷；ability 到 實施業務戰略並根據公司信息開展業務opportunities;disruptions in 或attacks（包括cyber-attacks）technology、互聯網、網絡接入或其他voiceor datacommunications 系統或服務；各類欺詐或其他行爲的evolutioncriminal 對whichthe 公司的行爲是風險的；failure 需要遵守其義務 公司或其affiliates； 對現行法律法規的變更或適用的影響；newgranting of 許可證and 許可證in 一家監管嚴格的企業；overall 很難litigation 環境，包括美國States；競爭加劇；外幣匯率變化；increasedfundingcosts 還有市場volatility 到期to 市場流動性不足和資金競爭；availability 資金andresources 用於開展業務；criticalaccounting 會計準則的估計和變更、policies、 和公司使用的方法；theoccurrence 既自然又不自然 災難性eventsand 聲稱resulting 來自此類事件；以及thoserisk 討論的因素或referred 到intheCompany 的披露documents 向美國Securities 和Exchange 委員會提交andavailable 位於www .sec.gov，還有the 證券監管機構in 肯定有provinces 的Canada 和available 在。在unexpectedmanner 中，是否有任何factor 會影響公司，還是assumptions 標的the 前瞻性information 證明不正確，實際的results 或events 可能與or 事件預測的結果materially 有所不同。Any 如此具有前瞻性informationisexpressly 根據這份警示符在其entirety 中獲得資格statement。此外，the Companydoes 不要假設responsibility 的準確性或completenessforwardinformation。The 前瞻性information 包含在本新聞稿中is 截至本報的daterelease 而且公司承諾no 有義務公開更新或修改any forward-lookinginformation，other 超出了適用的law 的要求。
譯文內容由第三人軟體翻譯。