H-Source Announces Shares for Debt Transaction

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Clarity on the $2.4 Conversion of debentures and unpaid interest

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VANCOUVER, BC, March 18, 2021 /CNW/ – H-Source Holdings Ltd. (“Source H“or the”Society“) (TSXV: HSI) (OTCQB: HSCHF), an innovative leader in AI and SAAS-based technology platform, and seeking to revolutionize the healthcare supply, logistics and distribution chain worldwide, today brings more clarity to the press release published in March 4, 2021which announced its intention to issue common stock to satisfy the market of approximately USD $2.4 million unpaid principal and the amount of unpaid interest of the 12% unsecured convertible debentures issued in 2019 (the “2019 Debentures“). The Company proposes to issue common stock to settle accrued and unpaid interest (“Debt Settlement Actions“) on the 2019 debentures by March 17, 2021 in the amount of USD $492,110 (GUJAT $644,811). The price of the shares to be issued in connection with this transaction is subject to the policy of the TSX Venture Exchange and will be based on the market price at the time of settlement. The Debt Settlement Actions are subject to TSX Venture Exchange approval. Common Shares issued under the Debt Settlement Shares will be subject to a hold period of four months from the date of issue.

Accrued and unpaid interest on debentures held by two insiders of the Company are included in this transaction. Such participation constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 on the protection of holders of minority securities in special transactions (“MI 61-101Issuance to insiders is exempt from the formal valuation and minority shareholder approval requirements of NI 61-101, as the securities will not represent more than 25% of the Company’s market capitalization, as determined pursuant to NI 61-101 The debt settlement actions have been approved by the directors of the Company.

John Kupice (H-Source CEO) said, “All debenture holders who have agreed to the conversion are delighted with the additional interest accrued and paid in company stock. We are very pleased with the support of our partners and welcome the participation of property”.

John Kupice additional comments: “These conversions will significantly improve our balance sheet and support better access to capital financing. As management continues to execute its growth plans and create shareholder value, we believe it is important to demonstrate the strength of its financial position. look forward to continuing to vigorously pursue our growth strategy both in the United States and globally”.

About H-Source Holdings Ltd.
H-Source Holdings Ltd. is a proprietary, patented technology company operating in the healthcare industry through its wholly-owned subsidiary, H-Source, Inc. The company has developed an advanced technology solution stack that provides participating members with proprietary software and secure. Platform as a service (“SAAS”) for the purchase, sale, tracking and transfer of medical supplies, pharmaceuticals, equipment and medical devices. The integration of artificial intelligence (“AI”) and advanced business intelligence (“BI”) improves data analysis for supply chain optimization. The platform is FDA and DSCSA compliant for pharmaceuticals and GS-1 UDI/GTIN for devices, including serialization, ownership, and custody in extended modules. Blockchain is offered as an add-on, at an additional cost, for strong security and traceability. Additionally, the H-Source platform provides all the accounting and data for buyers and sellers to capture product transactions and custody movements. This platform is designed to increase and maximize supply chain efficiency while reducing costs by moving products directly from manufacturers, suppliers and distributors to businesses or consumers. For more information, please visit http://h-source.com/.

On behalf of the Board of Directors of H-Source Holdings Ltd.

John Kupice
CEO and director

DISCLAIMER: TSXV has not reviewed and accepts no responsibility for the adequacy or accuracy of the contents of this press release..

This press release contains forward-looking statements relating to the completion of the listing of the Company’s shares on the TSXV and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include non-compliance with TSXV conditions and other risks detailed from time to time in the Company’s regulatory filings. on securities.

Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Readers are cautioned not to place undue reliance on forward-looking information. Such information, although considered reasonable by management when prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise any of the forward-looking statements included as expressly required by applicable law.

SOURCE H-Source Holdings Ltd.

For more information: [email protected]

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