LifeSpeak Announces Update on TSX Listing Review and Lender Discussions

TORONTO, March 17, 2025 /CNW/ - LifeSpeak Inc. (TSX: LSPK) ("LifeSpeak" or the "Company"), a leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations, announced today that the Toronto Stock Exchange ("TSX") has determined to further defer its remedial delisting review decision in respect of the Company's common shares until April 14, 2025. As previously disclosed by the Company, the TSX has undertaken the delisting review due to the Company's use of TSX rules related to financial difficulty in order to complete a private placement in March 2024, without shareholder approval. It is customary practice for the TSX to undertake such review when a listed issuer seeks to rely on the exemption.

The Company further announces that its term loan under its senior credit agreement came due on Feb 28, 2025. As previously announced in connection with the release of its second quarter, 2024 financial results, the Company is in default under its senior credit agreement, which triggered a cross-default under its credit agreement with its junior lender. The Company is actively engaged in discussions with its senior lenders regarding a formal extension of its term loan and is working collaboratively with both senior and junior lenders to address the existing defaults under the respective credit agreements. The Company will provide further announcements if and when an amended credit agreement is entered into with its senior and junior lenders, respectively; however, the Company can provide no assurances that any such amended credit agreements will be reached. LifeSpeak values its longstanding relationship with its senior and junior lenders and remains committed to working constructively with them.

About LifeSpeak Inc.

Celebrating 20 years of supporting wellbeing, LifeSpeak Inc. is the leading provider of mental, physical, and family wellbeing solutions for employers, health plans, and other organizations across the globe. With a suite of digital solutions, LifeSpeak enables organizations to deliver best-in-class content and human expertise at scale, catering to individuals throughout their wellbeing journeys. The LifeSpeak Inc. portfolio of solutions spans every pillar of wellbeing, including LifeSpeak Mental Health & Resilience, Wellbeats Wellness, Torchlight Parenting & Caregiving, ALAViDA Substance Use, and LIFT session Fitness. Insights from LifeSpeak Inc.'s digital and data-driven solutions empower organizations and individuals to take impactful action to strengthen wellbeing and maximize workplace performance. To learn more, follow LifeSpeak Inc. on LinkedIn, or visit http://www.LifeSpeak.com.

Forward-Looking Information

This press release may include "forward-looking information" within the meaning of applicable securities laws. Such forward-looking information may include, but is not limited to, information with respect to the TSX's deferral of its delisting review decision and expectations regarding ability to continue productive negotiations and enter into definitive agreements with the Company's lenders. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology and phrases such as "forecast", "target", "goal", "may", "might", "will", "could", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "predict", or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking information, including references to assumptions. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding possible future events, circumstances or performance.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered reasonable by LifeSpeak as of the date of this release, is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.

Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to, general market conditions, the Company's ability to secure financing in the future, decisions made by the Company's lenders and the TSX, the Company's ability to finalize definitive agreements with its lenders on terms acceptable to all parties, third party reaction to any of the foregoing developments, as well as the risk factors identified under "Risk Factors" in LifeSpeak's annual information form for fiscal year ended December 31, 2023 dated April 1, 2024, and in other periodic filings that LifeSpeak has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under LifeSpeak's SEDAR+ profile at www.sedarplus.com. These factors are not intended to represent a complete list of the factors that could affect LifeSpeak. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking information, which speak only as of the date of this release. LifeSpeak undertakes no obligation to publicly update any forward-looking information, except as required by applicable securities laws. 

SOURCE LifeSpeak Inc.