Kovo announces the resignation of its CFO and the appointment of an interim CFO

Vancouver, British Columbia–(Newsfile Corp. – June 14, 2024) – Kovo Healthtech Corporation (TSXV: KOVO) (“Kovo“or the”Company“) announced today that Inder Saini has been asked to resign as Chief Financial Officer (CFO), effective immediately. The Board of Directors has appointed Mark Detz as interim Chief Financial Officer while the company looking for a permanent replacement.

Inder Saini has served as CFO since March 1, 2020, and during his tenure he played a key role in building the finance organization as a platform from which we could launch our strategy of power increase. The move is part of the company’s restructuring efforts to refocus its strategic initiatives on long-term growth.

Mark Detz brings 15 years of financial leadership experience to this role. Prior to joining Kovo as Vice President of Finance and later promoted to Senior Vice President of Finance, he held several leadership roles at Anheuser-Busch, where he focused on financial strategy and operations, including financial reporting, forecasting, budgeting, mergers and acquisitions. . Detz began his career as an auditor at KPMG and holds an undergraduate degree from the Schulich School of Business. The Board of Directors is confident that Mark Detz’s expertise and deep understanding of our operations will ensure a smooth transition and maintain the financial stability of the Company during this period.

“We are grateful to Inder Saini for his contributions to Kovo and wish him well in his future endeavors,” said Gregory Noble, CEO of Kovo. “We are also excited to have Mark Detz assume this role and are confident in his ability to guide our financial operations as we search for a permanent CFO.”

The Board of Directors has launched an extensive search for a new CFO and is considering internal and external candidates. The Company remains committed to identifying a leader with the appropriate experience and vision to support our strategic objectives and generate value for our shareholders.

About Kovo HealthTech Corporation

Kovo HealthTech Corporation is a growing healthcare technology company specializing in billing as a service, offering SaaS-based recurring revenue contracts and software for more than 2,250 U.S. healthcare providers. Kovo helps healthcare providers digitally track and manage complex patient registration, services, billing and payments seamlessly. Currently, through its customers, Kovo processes more than 250 million Canadian dollars (200 million US dollars) in annual billing transactions for more than 3.5 million patients. By providing efficient billing practices, Kovo helps healthcare professionals get paid so they can focus on providing quality care. To learn more about Kovo and to keep up to date with Kovo news, visit www.kovo.co.

For more information:
Greg Noble, CEO
[email protected]
1-866-558-6777

Forward-looking information

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this press release contains forward-looking statements and information relating to the settlement by the Company of certain debts owed to entities controlled by a current director of the Company, the future financial condition of the Company and its prospects, including the entire proposed debt restructuring transaction, including the debt conversion transaction and modifications to the loan agreement. Forward-looking statements and information are based on certain key expectations and assumptions made by the management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as no assurance can be given that they will will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of the Company’s management regarding the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Because forward-looking statements and information relate to future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the ability of the Company to continue operations without sufficient capital, the ability of the Company to raise additional capital, the ability of the Company to meet the terms of its current debts and to repay its debt with or without debt conversion. Transaction and modifications to the loan agreement, the likelihood that the Company will satisfy its continuing obligations under the proposed debt conversion transaction and modifications to the loan agreement, the ability of the Company to effectively develop and successfully new opportunities, the inability to identify future transactional counterparties and the likelihood that a debt restructuring transaction will be completed and the Company will not default in the future. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this press release are made as of the date hereof and no obligation is made to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. except as required by applicable securities laws. Any forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213085