Beyond Medical Technologies Closes First Tranche of Convertible Note Financing for $1.68 Million and Announces Rebranding to Republic Technologies
June 04, 2025 5:55 PM EDT | Source: Beyond Medical Technologies Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM) (OTC Pink: DOCKF) ("Beyond Medical" or the "Company") is pleased to announce the closing of the first tranche of its non-brokered private placement (the "Financing") for aggregate gross proceeds of CAD $1,680,000 (the equivalent of USD $1,200,000 based on an agreed exchange rate of 1.40:1) from the issuance of senior secured non-interest bearing convertible notes ("Notes").
The Notes carry the following terms:
Convertible into common shares of the Company at the option of the holder at a conversion price of CAD $0.41 or 70% of the lowest issuance price of any equity securities issued by the Company (including the conversion price of any convertible instruments) subsequent to the date hereof and prior to the maturity date, whichever is lower, subject to compliance with the applicable rules and policies of the Canadian Securities Exchange. In the event that the Company successfully gets listed on any other exchange where its common shares are not currently listed, the conversion price shall be adjusted by mutual agreement of the Company and the holder, acting reasonably.
If the Note is not converted prior to maturity, the Company will pay a 24% premium on the outstanding principal.
All securities issued under the Financing will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
Use of Proceeds
The net proceeds from the Financing will be used for general working capital and to acquire additional Ethereum (ETH) to support Beyond Medical's blockchain attestation business. The Company's attestation platform utilizes Ethereum-based smart contracts to secure and verify medical records, patient consent forms, compliance documentation, and other critical healthcare data on-chain.
The ETH held in the corporate treasury also enables Beyond Medical to manage transaction (gas) fees, operate decentralized infrastructure, and further enhance the security and integrity of its blockchain-powered verification ecosystem.
Rebranding to Republic Technologies
In connection with the Financing, Beyond Medical Technologies Inc. is pleased to announce its corporate rebranding to Republic Technologies Inc. The Company has made significant progress on its healthcare-focused attestation platform, recently completing successful engagements with industry partners. Feedback from these collaborations has informed key enhancements, including on-chain attestations and permissioned access with real-time transparency. In response to increasing demand for attestation solutions across a broader range of industries, the Company has expanded its technology offering to support sector-agnostic use cases. The rebrand reflects this broader vision and underscores the Company's commitment to building secure, verifiable data infrastructure that serves the public good. The rebranding will be finalized in the coming weeks.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Beyond Medical Technologies Inc.
Beyond Medical Technologies Inc. is a healthcare technology company integrating blockchain infrastructure to enhance patient outcomes and operational efficiency across the medical ecosystem.
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the accuracy or adequacy of this release.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the anticipated use of proceeds of the Financing, the Company scaling operations and strengthening its blockchain capabilities, that Ethereum's role in the healthcare industry will increase, the benefits the Company will derive from the Financing and the Company's change of name and the timing thereof.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will use the proceeds of the Financing as currently anticipated, that the Financing will accelerate the growth and development of the Company's business, and that Ethereum's role in the healthcare industry will increase, that the Financing will position the Company well for this change and that the Company will complete its change of name as anticipated. Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not use the proceeds of the Financing as currently anticipated, that the Company will not derive the expected benefits from the Financing, that the role of Ethereum in the healthcare industry will not increase, market volatility, the state of the financial markets for the Company's securities, and political, legal and regulatory risks generally.
The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.
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