IOM Assure Holdings Corp

Assure Holdings Corp. (the “Company” or “Assure”) (TSXV: IOM; OTCQB: ARHH), is pleased to announce that it has entered into definitive agreements with certain accredited investors (each, an “Investor” and collectively, the “Investors”) for the private placement of 16,064,000 units of the Company (each, a "Unit" and collectively, the "Units") at an issue price of US$0.64 per Unit, for gross proceeds of US$10,468,930 (the “Offering”) subject to closing conditions being met. The proceeds of the Offering are expected to be used for completing payments associated with Assure’s acquisition of Neuro-Pro, expanding the Company’s operational footprint into new states, launching a telehealth neurologist offering for intraoperative neuromonitoring (“IONM”), funding new acquisitions in the IONM industry, filing a registration statement with the U.S. Securities and Exchange Commission under the terms of the registration rights agreement and general working capital purposes.  

Each Unit will be comprised of one share of common stock in the capital of the Company (each a “Common Share” and collectively, the “Common Shares”) and one common share purchase warrant (each, a “Warrant” and collectively, the “Warrants” and together with the Common Shares, the “Securities”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of USD$0.78 for a period of 5 years from the date of issuance. The Company anticipates that the Offering will close on or about December 2, 2020. In connection with the Offering, the Company anticipates paying fees of approximately US$940,000.

This private placement was made under an exemption from the registration requirements of the Securities Act of 1933, as amended, and investors may not offer or sell the securities sold in the offering in the absence of an effective registration statement or exemption from registration requirements.   In connection with the private placement, the Company will enter into registration rights agreements, pursuant to which the Company agreed to file a registration statement on Form S-1 with the Securities and Exchange Commission to register the resale of all Common Shares issued or issuable pursuant to this private placement.

This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

The Offering remains subject to the approval of the TSX Venture Exchange (the “TSXV”).

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®.

Forward-Looking StatementsThis news release may contain “forward-looking statements” within the meaning of applicable securities laws, including, but not limited to, our financing plans, including the offering of the Units, the anticipated use of proceeds of the Offering; the closing date of the Offering and other expected effects of the Offering. 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 aggregate amount of Units sold pursuant to the Offering; the dilution arising from the Offering; the use of proceeds of the Offering may not be used for or sufficient for completing payments associated with Assure’s acquisition of Neuro-Pro, extending the Company’s operational footprint into new states, launching a telehealth neurologist offering, funding new acquisitions in the IONM industry, filing a registration statement with the U.S. Securities and Exchange Commission and/or general working purposes; the Offering may not close on the anticipated closing date; the Company may not satisfy the obligations to file and bring effective the Form S-1 in a timely manner, which could result in payment of liquidated damages; the Company may not receive approval from the TSXV with respect to the Offering; 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. 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.

ContactScott Kozak, Investor and Media RelationsAssure Holdings Corp.1-720-287-3093Scott.Kozak@assureiom.com

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