Preston Parsons Announces Investment in Assure Holdings and Files Related Early Warning Report

/EIN News/ -- DENVER, Dec. 04, 2020 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (the “Company” or “Assure”) (TSXV: IOM; OTCQB: ARHH) announces that Preston Parsons (“Mr. Parsons”), an insider of the Company, participated in a previously announced brokered private placement (the “Offering”) units of the Company (each, a "Unit" and collectively, the "Units").   Pursuant to the Offering, the Company issued a total of 16,357,703 Units for gross proceeds of US$10,468,930. Mr. Parsons acquired 156,250 Units of the Company under the Offering. As a result of Mr. Parsons’ status as an insider of Assure holding more than 10% of the Company’s issued and outstanding shares, and the change in his holdings as a result of the Offering, Mr. Parsons has filed an early warning report (the "Early Warning Report") as required under National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”).

Prior to the Offering, Mr. Parsons owned 17,388,551 common shares in the capital of the Company (each, a “Common Share” and collectively, the “Common Shares”), stock options to purchase 1,000,000 Common Shares and up to 3,300,000 performance shares issuable under the Company's performance share plan, representing approximately 62% of the issued and outstanding Common Shares on a partially diluted basis (assuming conversion of all convertible securities held by Mr. Parsons).

Upon the closing of the Offering, Mr. Parsons owns 17,544,801 Common Shares, stock options to purchase 1,000,000 Common Shares, 156,250 common share purchase warrants and up to 3,300,000 performance shares issuable under the Company's performance share plan, representing approximately 42.5% of the issued and outstanding Common Shares on a partially diluted basis (assuming conversion of all convertible securities held by Mr. Parsons).

This news release is being disseminated pursuant to Part 3 of NI 62-103 in connection with the filing of the Early Warning Report. A copy of the Early Warning Report will be available on SEDAR under Assure’s issuer profile at www.sedar.com and can also be obtained directly from the Company by contacting Scott Kozak, whose contact details are included below.

The Common Shares were acquired for investment purposes. Mr. Parsons may acquire additional securities of the Company, including on the open market or through private acquisitions, or sell the securities, including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Depending on market conditions, general economic and industry conditions, the Company’s business and financial condition and/or other relevant factors, Mr. Parsons may develop such plans or intentions in the future.

Mr. Parsons' participation in the Offering is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction is exempt from minority approval, information circular and formal valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued under the Offering nor the consideration paid by the insiders exceeds 25% of the Company's market capitalization.

About Assure Holdings
Assure Holdings Corp. is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries. Assure employs its own staff of technologists and uses its own state-of-the-art monitoring equipment, handles 100% of intraoperative neuromonitoring scheduling and setup, and bills for all technical services provided. Assure Neuromonitoring is recognized as providing the highest level of patient care in the industry and has earned The Joint Commission’s Gold Seal of Approval^®. For more information, visit the Company’s website at www.assureneuromonitoring.com.

Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of applicable securities laws, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general, and risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Assure does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

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.

Contact
Scott Kozak, Investor and Media Relations
Assure Holdings Corp.
1-720-287-3093
Scott.Kozak@assureiom.com

John Farlinger, Chief Executive Officer
Assure Holdings Corp.
1-604-763-7565
John.Farlinger@assureiom.com