Discover Wellness Announces Extension of Secured Notes

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Calgary, Alberta–(Newsfile Corp. – November 29, 2021) – Uncover Wellness Options Inc. (CSE:WLNS) (“Uncover Wellness“, “DWS” or the “Firm“), a licensed producer and processor beneath the Hashish Act (Canada), broadcasts that it has prolonged the maturity date of the secured notes initially issued on September 13, 2019 (the “Secured Notes”). The Secured Notes’ maturity date had been prolonged a number of instances to October 31, 2021. By a not too long ago accomplished negotiation with the third-party noteholders, the Secured Notes have been prolonged to October 31, 2022. Phrases throughout the extension interval contains an annual accrued rate of interest of 15% and a conversion possibility for the noteholder to elect to transform the excellent stability plus accrued curiosity on the Secured Notes into Uncover Wellness frequent shares at $0.10 per frequent share. The related-party noteholders have accepted the phrases negotiated with the third-party noteholders. The Secured Notes stay secured in opposition to the Firm’s Newell property and early reimbursement by the Firm is allowed with out penalty.

Uncover Wellness Options Inc.

Uncover Wellness is a Canadian firm licensed, by way of its subsidiary, to domesticate, produce, course of and promote hashish in numerous varieties. The Firm’s imaginative and prescient is to reinforce shareholder worth by establishing value management in hemp processing and CBD extraction coupled with a world distribution technique.

Extra details about WLNS is out there on-line at https://discoverwellness.solutions/

Contact Info:

Peter Cheung, Interim Chief Government Officer and Chief Monetary Officer
ir@discoverwellnesssolutions.ca
(403) 910-9191

Sure data set forth on this information launch comprises forward-looking statements or data (“forward-looking statements“). By their nature, forward-looking statements are topic to quite a few dangers and uncertainties, some of which are past the Firm’s management, together with the affect of basic financial situations, business situations, volatility of commodity costs, foreign money fluctuations, environmental dangers, operational dangers, competitors from different business members, inventory market volatility, and the potential to entry adequate capital from inside and exterior sources. Though the Firm believes that the expectations in its forward-looking statements are affordable, its forward-looking statements have been based mostly on elements and assumptions regarding future occasions which can show to be inaccurate. These elements and assumptions are based mostly upon at present accessible data. Such statements are topic to recognized and unknown dangers, uncertainties and different elements that would affect precise outcomes or occasions and trigger precise outcomes or occasions to vary materially from these said, anticipated or implied within the forward-looking statements. Accordingly, readers are cautioned to not place undue reliance on the forward-looking statements, as no assurance will be offered as to future outcomes, ranges of exercise or achievements. Dangers, uncertainties, materials assumptions and different elements that would have an effect on precise outcomes are mentioned in our public disclosure paperwork accessible at www.sedar.com. Moreover, the forward-looking statements contained on this doc are made as of the date of this doc and, besides as required by relevant legislation, the Firm doesn’t undertake any obligation to publicly replace or to revise any of the included forward-looking statements, whether or not because of new data, future occasions or in any other case. The forward-looking statements contained in this doc are expressly certified by this cautionary assertion.

Buying and selling within the securities of WLNS must be thought of extremely speculative.