Bloom Health Partners Announces Wind-Down of Operations
Vancouver, British Columbia--(Newsfile Corp. - November 10, 2022) - Bloom Health Partners Inc. (CSE: BLMH) (OTCQB: BLMHF) (FSE: D840) ("Bloom" or the "Company") announces that it has commenced the process of winding-down its operations. In response to reduced demand for its services and current market conditions, the Company has elected to immediately reduce expenditures to preserve available capital.
The Company will continue to provide active testing support in the State of Hawaii through to year-end with a significantly reduced workforce, following which all operations will cease. The Company is in discussions with creditors in an effort to reduce or eliminate outstanding obligations associated with operations, and will provide shareholders with further information as these discussions evolve.
The Company expects the remaining members of the board of directors to tender their resignations on or about November 15, 2022.
On behalf of Bloom Health Partners Inc.
Interim Chief Executive Officer
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the Company's forward-looking statements include the potential that milestones may not be satisfied, acquisitions may not achieve expected benefits, financing requirements, and the other risk factors described in the Company's filings with Canadian securities regulators on www.sedar.com. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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