Beyond Medical Technologies Announces Debt Repayment, Board Addition, and Appointment of Interim CFO
Rhea-AI Summary
Beyond Medical Technologies (CSE: DOCT, OTC: DOCKF) has announced three significant developments: First, the company has successfully repaid 68.7% of its outstanding debt by issuing 7.9 million common shares at $0.05 per share to settle $395,000 of debt obligations. Second, Steven McAuley has been appointed to the Board of Directors, bringing decades of experience in corporate governance and operational strategy. Third, Stevenson Ty has been named Interim Chief Financial Officer, replacing Jatin Baski. Ty brings extensive experience in corporate finance, treasury management, and regulatory compliance from previous executive finance roles.
Positive
- Significant debt reduction of 68.7% through share issuance
- Strengthened Board of Directors with experienced corporate governance professional
- Appointment of new Interim CFO with extensive financial management experience
Negative
- Shareholder dilution due to issuance of 7.9 million new shares
- CFO transition may cause temporary operational disruption
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2025) - Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM) (OTC Pink: DOCKF) ("Beyond Medical" or the "Company") is pleased to announce the successful repayment of
Beyond Medical has completed repayment of
Beyond Medical is also pleased to announce the appointment of Mr. Steven McAuley to its Board of Directors. Mr. McAuley brings decades of experience in corporate governance and operational strategy, further enhancing the Company's leadership team. His appointment aligns with Beyond Medical's commitment to strong governance and strategic growth.
"We are thrilled to welcome Steven McAuley to the Board," said Daniel Liu. "His insights and strategic guidance will be invaluable as we continue to execute on our vision and drive long-term value for our shareholders."
Beyond Medical is further pleased to announce the appointment of Stevenson Ty as Interim Chief Financial Officer, effective immediately. He replaces Jatin Baski, who has stepped down from the role. The Company thanks Mr. Baski for his contributions and wishes him success in his future endeavors.
Stevenson Ty brings extensive experience in corporate finance, treasury management, and regulatory compliance. Prior to joining Beyond Medical, he held executive finance roles at established organizations, leading financial planning and capital management.
"I am excited to join Beyond Medical Technologies at such a pivotal time in its growth," said Stevenson Ty. "I look forward to working with the executive team to drive financial discipline, optimize capital structure, and support the Company's long-term strategic objectives."
Daniel Liu, CEO of Beyond Medical Technologies, added, "We are delighted to welcome Stevenson Ty to the team. His accomplishments as a financial leader with a proven track record in corporate finance will be instrumental as we strengthen our financial position."
About Beyond Medical Technologies Inc.
Beyond Medical Technologies Inc. is a health technology company focused on advancing innovative solutions in the medical and life sciences sectors. The Company is dedicated to improving patient outcomes and operational efficiencies through cutting-edge technology and strategic partnerships.
On behalf of the Board of Directors
Daniel Liu, Chief Executive Officer
Email: danzliu94@gmail.com
https://beyond-md.ca/
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 news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-Looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-Looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240750
FAQ
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