Assure Holdings Closes Convertible Debenture Offering

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DENVER, May 19, 2020 (GLOBE NEWSWIRE) — Assure Holdings Corp. (the “Company” or “Assure”) (TSXV: IOM; OTCQB: ARHH), announces the closing of the previously announced non-brokered private placement of convertible debenture units (the “Offering”) raising a total of US$830,000. The Offering was completed in two tranches, the last of which closed on May 18, 2020. In total, the Company issued an aggregate of 830 unsecured redeemable convertible debentures and 830,000 common share purchase warrants. For further details concerning the Offering, please refer to the Company’s news releases dated April 24 and May 12, 2020.“We are pleased to have attracted funding in a challenging market environment,” said John A. Farlinger, Assure’s executive chairman and CEO. “The capital raised will strengthen Assure’s balance sheet, with a portion allocated for the recently completed payment associated with the acquisition of Neuro-Pro Monitoring.”In connection with the closing of the Offering, the Company paid an aggregate of US$23,100 and issued an aggregate of 34,476 finder’s warrants (the “Finder’s Warrants”) to certain finders.The net proceeds of the Offering will be used for working capital and were used to retire the US$700,000 payment in connection with the acquisition of Neuro-Pro Monitoring.All securities issued pursuant to the Offering and all securities issued upon exercise thereof will be subject to a hold period of twelve months following the date of issuance thereof, in accordance with the policies of the TSX Venture Exchange (the “TSXV”) and applicable Canadian and U.S. securities laws. The Offering is subject to final approval of the TSXV.This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation, or sale would be unlawful.About Assure Holdings
Assure Holdings Corp. is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries. Assure employs its own staff of technologists and uses its own state-of-the-art monitoring equipment, handles 100% of intraoperative neuromonitoring scheduling and setup, and bills for all technical services provided. Assure Neuromonitoring is recognized as providing the highest level of patient care in the industry and has earned The Joint Commission’s Gold Seal of Approval^®. For more information, visit the Company’s website at www.assureneuromonitoring.com.Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of applicable securities laws, including, but not limited to, our financing plans, the Offering and the details thereof, the proposed use of proceeds therefrom, and other expected effects of the Offering. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the Company’s ability to facilitate the payments associated with the convertible debentures sold in connection with the Offering, the dilution arising from the Offering, the Company may not receive final approval from the TSXV with respect to the Offering, the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general, and risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Assure does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.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.Contact
Scott Kozak, Investor and Media Relations
Assure Holdings Corp.
1-720-287-3093
Scott.Kozak@assureiom.comJohn Farlinger, Chief Executive Officer
Assure Holdings Corp.
1-604-763-7565
John.Farlinger@assureiom.com