Early Warning Press Release - Acquisition of Common Shares of WELL Health Technologies Corp.

HONG KONG , Oct. 15, 2024 /CNW/ - Ms. CHAU Hoi Shuen Solina Holly (the " Acquiror "), announces the filing of an early warning report in connection with the indirect acquisition of 18,667,421 common shares (" Shares ") in the capital of WELL Health Technologies Corp. (" WELL ") (TSX: WELL).

The Acquiror indirectly purchased from a shareholder of WELL, by way of a private share purchase agreement, 18,667,421 Shares at a price of CAD$4.34 per share representing a total purchase price of USD$60,171,034.12 (the " Transaction ").

Prior to the Transaction, the Acquiror indirectly owned, or exercised control or direction over, 17,508,146 Shares of WELL, representing approximately 7% of the outstanding Shares (based upon 248,970,428 issued and outstanding Shares as at August 13 , 2024).  Following the Transaction, the Acquiror indirectly owns, or exercises control or direction over 36,175,567 Shares, representing approximately 14.53% of the issued and outstanding Shares (based upon 248,970,428 issued and outstanding Shares of WELL as at August 13, 2024 ).

At this time the Acquiror does not have any plans that would result in any of the following: (a) the acquisition of additional securities of WELL, or the disposition of securities of WELL; (b) a corporate transaction, such as a merger, reorganization or liquidation, involving WELL or any of its subsidiaries; (c) a sale or transfer of a material amount of the assets of WELL or any of its subsidiaries; (d) a change in the board of directors or management of WELL, including any plans or intentions to change the number or term of directors or to fill any existing vacancy on the board; (e) a material change in the present capitalization or dividend policy of WELL; (f) a material change in WELL's business or corporate structure; (g) a change in WELL's charter, bylaws or similar instruments or another action which might impede the acquisition of control of WELL by any person or company; (h) a class of securities of WELL being delisted from, or ceasing to be authorized to be quoted on, a marketplace; (i) WELL ceasing to be a reporting issuer in any jurisdiction of Canada; (j) a solicitation of proxies from securityholders; or an action similar to any of those enumerated above. 

The Shares were acquired for investment purposes. Subject to various factors including market conditions, the Acquiror's determinations from time to time as to whether the trading price of the Shares adequately reflects the value of the Shares in relation to WELL's activities and future prospects, and other factors and conditions the Acquiror deems appropriate, the Acquiror (or an affiliate or associate thereof) may acquire additional Shares or may dispose of any or all of its Shares, from time to time through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Acquiror may deem advisable.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues , which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which WELL is a reporting issuer containing information with respect to the foregoing matters (the " Early Warning Report "). A copy of the Early Warning Report will appear with WELL's filings on the System for Electronic Document Analysis and Retrieval (SEDAR).  WELL's registered and head office address is located at Suite 550 375 Water St., Vancouver, British Columbia , V6B 5C6 Canada .

The TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release   , which has been prepared by the Acquiror.

SOURCE CHAU Hoi Shuen Solina Holly