The market cap of Ethema Health Corp (OTCPk: GRST) reached $9.66M after the stock gained 5.56% last session to conclude $0.0038. Ethema stock traded 25.94M shares recently, more than 24.81M shares on average. GRST stock has 2.54B shares outstanding vs 46.76M float. A new round of financing boosted the price of GRST stock.

What was the purpose of that GRST financing?

Ethema specializes in treating substance use disorders within the behavioral healthcare sector. In the past decade, GRST developed a unique type of treatment for adults and it has experienced great success with it. GRST will keep developing world-class programs and techniques for North America.

Ethema has announced that it has secured a new fixed rate convertible note facility from Labrys Fund, LP.

• As part of its closing, GRST entered into a one-year convertible note with a face amount of $230,000.00, including an OID of 10% and a fixed conversion rate of $0.004 per share.
• It plans to use the loan proceeds for working capital purposes and to pay some outstanding liabilities.
• GRST plans to increase its working capital in order to continue to pay its debts as they become due as well as to expand its treatment facility in West Palm Beach, Florida.
• Recent weeks have seen the treatment center reach capacity multiple times.
• Several drawings had to be revised prior to the start of construction on the expansion project, but now the process has resumed and the project should be completed in the next 60 days.
• With this expansion, the treatment center will have 52 beds instead of 40.

GRST’s next steps:

Ethema (GRST) has provided all requested documentation for its ownership change for the ARIA treatment center to the Florida Department of Children and Families and is anticipating an approval to be issued shortly. GRST intends to make improvements to its website as well as to implement a better communication system with its most valuable shareholders with some of the new working capital.