(NewMediaWire) - June 17, 2024 - Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”), through its wholly owned subsidiary Evernia Health Center LLC (“ARIA”) closed the deal to purchase assets and an assignment of lease at 899 Meadows Avenue (the “Building”) in Boca Raton, Florida. The site was previously operated by Boca Cove Detox, LLC. The Building is next to the Boca Raton regional hospital and is in a zoned medical district. ARIA will license the Building to operate 12 detox beds and 13 residential beds. The new beds will be higher level care beds which will result in a roughly 50% increase in revenue and roughly a 100% increase in income because the location will be managed using the current ARIA infrastructure. ARIA EBITDA is now capable of reaching $300,000 per month once the Building is fully integrated. ARIA expects DCF to grant it a probationary license by the end of the month and the Building to start taking clients in early July. DCF completed its tri-annual audit of the ARIA West Palm Beach Facility on June 11th and 12th and the facility passed with a near perfect score thanks to the dedication and hard work of the ARIA staff and especially the recently appointed executive director, Kate Rosborough.
Separately, Ethema is now listed on SaveChangeWorld.com (“SCW”). SCW recommends a proprietary defensive growth portfolio strategy to its followers. The strategy includes the allocation of a minority of a portfolio’s assets into microcap companies which it believes have 10 times upside long-term potential. Ethema CEO Shawn Leon was interviewed by SCW’s Director of Research on Saturday June 15, 2025 about Ethema and the new Boca facility. A video recording of SCW’s coverage for Ethema is available at www.savechangeworld.com. On the podcast the Company discussed the plan to use a perpetual financing strategy similar to the strategy utilized by Airbnb and UBER to finance their rapid growth. The strategy is being utilized by other companies that are listed on SCW. For more about the strategy go to Perpetual Financing Strategy | SWCW (savechangeworld.com). Additionally the Company will be listed on the Capital Engine website and future financings will be available to the public via Capital Engine (https://capitalengine.io).
Mr. Shawn Leon, Company CEO, reported, “We are truly excited to be finally taking a step to grow the bed count outside of our West Palm Beach facility. The Boca location occupies the first and second floor of the building and we hope to be able to work with the landlord to extend the lease to the third floor to add another 20 beds in Boca. Our goals for the last two years have been to eliminate debt and expand, and we are now adding a third important goal which is to up-list to a senior market. Our plan is to seek a listing on the NYSE American exchange. This will require some major changes to the company capital structure to meet the listing requirements. These steps will be outlined in the coming weeks.”
Mr. Leon added, “I would like to thank the shareholders who contacted me regarding an error that occurred in a Form 4 filing, filed by my wife, Eileen Greene this past week, which misstated the purchase price of shares at $0.04 instead of the actual $0.0004 per share she purchased at. The error was quickly fixed and I would like to report that she plans to continue buying shares in the open market. Additionally we both plan to convert our debt to equity to support the up-listing requirements and will be reporting further on that soon. Once we get listed on a senior exchange we expect the growth of the Company to rapidly increase as our acquisition strategy supported by our perpetual financing strategy will make this expansion possible.”
About Ethema Health Corporation
Ethema Health Corporation (OTCPINK: GRST) operates in the behavioral healthcare space, specifically the treatment of substance use disorders. Ethema developed a unique style of treatment over the last decade 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 .
Notice Regarding Forward-Looking Statements
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.
For information please contact:
Ethema Health Corporation
shawn@ethemahealth.com
Text to 416-500-0020
Twitter @healthethema
