West Palm Beach, FL, Sept. 30, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”), announces today that its majority owned subsidiary Evernia Health Center LLC (“Evernia”) has been issued a license from Florida’s Department of Children and Family Services to operate addiction treatment services at its location at 950 Evernia Street, West Palm Beach. The license includes detox, residential, partial hospitalization, intensive out-patient and out-patient services which allows Evernia to offer a full continuum of care at its location. Evernia will be doing business as Addiction Recovery Institute of America (ARIA) and has licensed this name from another Ethema subsidiary, Addiction Recovery Institute of America LLC. The website is www.ariafl.com. The Company’s key personnel are in place and expect to start operating in the next two to three weeks once all support staff and frontline workers have been brought on board. As previously announced the Company has been posting more frequent updates on twitter @healthethema.
The Company last reported on August 20, 2020 on its completion of debt restructuring, acquisition of Evernia, new financing, SEC filings and other potential acquisitions. Since then the Company filed its first quarter 10Q and as previously reported expects the second quarter to be filed shortly. The accounting for the first and second quarter is a lot more complicated than normal given the restructuring nature of all the debt amendments and extinguishments and the accompanying derivative liability treatment of those transactions. There are extremely large swings in derivative liability calculation and given the protracted timing of completing all of the transactions with multiple parties spanning over three quarters, the effective date of the transactions were in the second quarter and the full effect of the transactions will be reported in the second quarter filing. We expect this to make the third quarter statements less complicated and fully expect to file the third quarter on time.
The Company has received an offer to finance its acquisition of a minority interest in Biohazard Health Services Ltd. (“Covid clear”) which is conditional on being current in filings and further due diligence on the acquisition. The ARIA treatment facility will be certified by Covid Clear for cleanliness and the ongoing treatment of all of the air and surfaces in the facilities at 950 Evernia Street will ensure the safety and protection of clients and staff at the facility from potential exposure to viruses.
About Ethema Health Corporation
Ethema Health Corporation (OTCPINK: GRST) operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Ethema developed a unique style of treatment over the last eight years and has had much success with in-patient treatment for adults. Ethema will continue to develop world class programs and techniques for North America. For more information you can visit our website at www.ethemahealth.com. Follow us on Twitter @Healthethema.
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The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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Ethema Health Corporation
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