TORONTO, ON, April 28, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Tree of Knowledge International Corp. (CSE: TOKI) (the "Company") is pleased to announce the appointment of Dr. Kevin Rod, the current Chief Medical Officer of the Company, as a director and Chief Executive Officer.
Dr. Rod is a Family Physician with a focused practice in chronic pain. Dr. Rod is currently also the medical director of the TPC clinics (subsidiaries of the Company) and a lecturer with the University of Toronto DFCM as a clinical teacher. Dr. Rod acts as Medical Investigator, Peer and Facility Assessor for the College of Physicians and Surgeons of Ontario. Dr. Rod has received Awards of Excellence from the University of Toronto DFCM FMLE in 2013 and the Ontario College of Family Physicians in 2008. He is a guest course contributor to Harvard Medical School Department of Continuing Education. Dr. Rod has special research interest in applications of HIFU in chronic pain and neurosurgery. Dr. Rod works on a joint research program with Ryerson University for invention of new medical devices with HIFU applications. Dr. Rod has established the online patient self-management education initiative mypain.ca to promote physical and mental health. Dr. Rod’s also received a Certificate of Recognition on behalf of the Prime Minister of Canada in 2014 for teaching activities and contribution to Canada’s Pluralism.
With respect to his appointment, Dr. Rod stated, “The art and science of medicine is at the core of Tree of Knowledge International Corp.’s business philosophy. I am excited to apply this art and science for the betterment of health for our patients and clients with my position as the director and CEO of the Company.”
In addition, the Company is pleased to announce the closing of a convertible debenture financing with an arm’s length party in the aggregate principal amount of $600,000 (the “Debenture”). The Debenture bears interest at a rate of 10% per annum and matures on April 22, 2021. Interest is payable monthly with principal payable at maturity. Subject to the policies of the Canadian Securities Exchange (the “CSE”), the principal amount of the debenture is convertible into units of the Company (“Units”) at a price equal to the 10 day weighted average closing price of the common shares of the Company (“Common Shares”) on the CSE during the 10 days prior to the conversion date less: (i) twenty-five percent (25%); or (ii) the maximum allowable discount (as per the CSE), if greater than twenty-five percent (25%), subject to a minimum issue price of $0.05 per unit (in accordance with CSE policies). Each Unit consists of one Common Share and one purchase warrant (each a “Warrant”), with each Warrant exercisable for a period of 3 years from the date of issuance into a Common Share at a price equal to the minimum price allowable by the CSE on the date of issuance.
The Company intends to use the proceeds of the Debenture for the development of their clinical business, new product development, and general working capital.
For further information please visit: www.tokicorp.com
Or contact: Tree of Knowledge International Corp.
Michael Caridi, Chairman Tel: +1 (917) 295-1374 Michael@tokicorp.com
About Tree of Knowledge
TOKI is a public company that delivers pathways to innovative, science-based health and wellness solutions. The Company is a leader in pain management, spanning from seed to patient. Built upon an extensive network of scientific and medical research, TOK is an advanced leader in the development, processing, and distribution of focused products and treatments for pain relief. Tree of Knowledge spans the globe with its multidisciplinary pain clinics, research partners, consumer CBD products, and education and advocacy programs – all working in harmony to bring health and wellness to the world while creating value for shareholders and partners.
Forward-Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.