Carebook’s Largest Shareholders Continue to Support Growth Strategy with Additional Financing

$1 Million Convertible Debt Financing Provides Additional Flexibility 

MONTREAL, Sept. 28, 2022 /CNW Telbec/ – Carebook Technologies Inc. (“Carebook” or the “Company“) (TSXV: CRBK) (OTCPK: CRBKF) (XETR: PMM1), a leading Canadian provider of innovative digital health solutions, is pleased to announce that its two largest shareholders have continued to support the Company’s growth strategy by way of a $1 million private placement of convertible debt (the “Transaction“).

“Our second quarter results showed a continuation of the positive trend begun at the start of our current fiscal year. Our recent announcements of major wins with tier one employers provide the true validation of the success of our strategy and renewed focus on the growing employer market,” stated Michael Peters, Carebook’s Chief Executive Officer. “This financing demonstrates and reinforces our largest shareholders’ support for our strategy. In addition to this new financing from SAYKL and UIL, the Company intends to pursue additional financing opportunities to allow the Company to further pursue its growth strategy. We continue to work closely with potential financing sources and intend to update the market in due course on our financing initiatives”.

As announced in December 2021, the Company had entered into loan agreements with each of SAYKL Investments Ltd. (a significant shareholder controlled by Dr. Sheldon Elman, the Executive…