TORONTO, March 14, 2024 /CNW/ - LifeSpeak Inc. (TSX: LSPK) ("LifeSpeak" or the "Company"), a leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations, announced today that it has issued 8,096,588 common shares ("Common Shares") to subscribers of its previously announced non-brokered private placement (the "Private Placement") at a price of $0.60791 per Common Share (the "Subscription Price"). The Company expects to issue an additional 128,308 Common Shares at the Subscription Price in the coming days as the remaining de minimus amounts from confirmed subscribers are received. Aggregate gross proceeds from the Private Placement are approximately $5.0 million.

The proceeds of the Private Placement will be used to repay the Company's outstanding senior indebtedness such that its resulting senior indebtedness will be $66,412,500. The Company anticipates that the amortization of the senior indebtedness will be approximately $1.8 million per quarter for 2024.

"The participation from senior management and members of our board of directors in this Private Placement demonstrates our conviction and confidence in LifeSpeak's business moving forward," said Michael Held, CEO and Founder of LifeSpeak. "It also represents a positive step towards de-levering the Company while we maintain our focus on growing the business."

Pursuant to applicable Canadian securities laws, the Common Shares will be subject to a hold period of four months and one day following the closing date.

At LifeSpeak, we believe that wellbeing can't wait. LifeSpeak is the leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations. With a suite of digital solutions, LifeSpeak enables organizations to deliver best-in-class content and human expertise at scale, catering to employees throughout their wellbeing journeys. The LifeSpeak portfolio of solutions spans every pillar of wellbeing, including LifeSpeak Mental Health & Resilience, Wellbeats Wellness, Torchlight Parenting & Caregiving, ALAViDA Substance Use, and LIFT session Fitness. Collectively, LifeSpeak has more than 30 years of experience working with Fortune 500 companies, government agencies, insurance providers, unions, and other organizations across the globe. Insights from LifeSpeak's digital and data-driven solutions empower organizations and individuals to take impactful action to address gaps in wellbeing, ultimately enhancing workplace performance outcomes. To learn more, follow LifeSpeak on LinkedIn (http://www.linkedin.com/company/lifespeak-inc), or visit www.LifeSpeak.com.

This press release may include "forward-looking information" within the meaning of applicable securities laws. Such forward-looking information may include, but is not limited to, information with respect to the amortization schedule and loan repayments, the amount of senior indebtedness remaining, and the receipt of de minimus amounts from confirmed subscribers. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology and phrases such as "forecast", "target", "goal", "may", "might", "will", "could", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "predict", or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking information, including references to assumptions. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding possible future events, circumstances or performance.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered reasonable by LifeSpeak as of the date of this release, is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.

Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to, general market conditions, the Company's ability to meet its amortization schedule in the future, decisions made by the Company's lenders, third party reaction to the Private Placement, receipt of funds from the remaining subscribers as well as the risk factors identified under "Risk Factors" in LifeSpeak's annual information form for fiscal year ended December 31, 2022 dated March 31, 2023, and in other periodic filings that LifeSpeak has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under LifeSpeak's SEDAR+ profile at www.sedarplus.com. These factors are not intended to represent a complete list of the factors that could affect LifeSpeak. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking information, which speak only as of the date of this release. LifeSpeak undertakes no obligation to publicly update any forward-looking information, except as required by applicable securities laws.

SOURCE LifeSpeak Inc.

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