Newtopia Schedules Fourth Quarter and Full Year 2020 Earnings Release for Tuesday, April 6, 2021 and Other Corporate Updates
TORONTO, March 31, 2021 /CNW/ - Newtopia Inc. ("Newtopia" or the "Company") (TSXV: NEWU), a tech-enabled habit change provider focused on disease prevention, today announced that the Company plans to release its fourth quarter and full year 2020 financial results after market close on Tuesday, April 6, 2021. The Company's earnings release, audited annual financial statements, and Management Discussion & Analysis will be available on the Investor Relations' section of its website, newtopia.com/investors and under the Company's profile on SEDAR at www.sedar.com
Investor Relations Consultant
The Company also announced today that it has retained ADDO Investor Relations ("ADDO") effective April 1, 2021 to provide investor relations services. Under terms of ADDO's engagement, Newtopia has agreed to pay ADDO a service fee of US$11,500 per month. The agreement has an initial term of six months, with an automatic renewal, unless terminated by either party upon 30 days' written notice to the other party. There are no performance factors contained in the agreement, and neither ADDO nor any of ADDO's employees has a direct or indirect ownership interest in Newtopia or its securities.
Strategic Sales Consultant
Effective April 1, 2021, Newtopia has also entered into an agreement with NearWater Growth LLC ("NearWater") to provide strategic sales and business development services. Under the terms of the agreement, Newtopia has agreed to pay NearWater a service fee of US$10,000 per month. The agreement is for an initial term of nine months with an option for annual renewal upon mutual consent of both parties. The agreement may be terminated by either party upon 60 days' written notice. In addition, subject to the approval of the TSX Venture Exchange (the "Exchange"), NearWater will be entitled to receive 10,000 options at the commencement of the agreement and an additional 10,000 options for each renewal year. Options are subject to the Company's Option Plan and will vest quarterly over two years. There is also a performance incentive, subject to Exchange approval, which entitles NearWater to earn up to 750,000 common shares of Newtopia over the course of the agreement upon meeting certain agreed upon sales milestones. The entering into of the consulting agreement with NearWater remains subject to final approval of the Exchange.
About Newtopia
Newtopia is a tech-enabled habit change provider focused on disease prevention and reducing the cost of care for health insurers. As a provider of whole person care, we prevent, reverse, and slow the progression of chronic disease while enriching mental health, resilience and overall human performance. Newtopia's programs leverage genetic, social, and behavioral insights to create individualized prevention programs with a focus on type 2 diabetes, heart disease, stroke and weight. With a person-centered approach that combines virtual care, digital tools, connected devices and actionable data science, Newtopia delivers sustainable clinical and financial outcomes. Newtopia serves some of the largest nationwide employers and health plans and is currently listed on the Toronto Stock Exchange (TSXV: NEWU). To learn more, visit newtopia.com, Facebook, LinkedIn or Twitter.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Newtopia Inc.
Chief Executive Officer: Jeff Ruby, [email protected], 888-639-8181; Investor Contact: Kimberly Esterkin, ADDO Investor Relations, [email protected], 310-829-5400
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