Think Research Announces Payment of Deferred Consideration by Issuance of Common Shares

TORONTO, Dec. 30, 2022 /CNW/ - Think Research Corporation (TSXV: THNK) ("Think" or the "Company"), a company focused on transforming healthcare through digital health software solutions, today announced that it has issued an aggregate of 546,388 common shares (the "Common Shares") at the deemed price of $0.36 to the former shareholders of MDBriefCase Group Inc. (the "MDB Shareholders").

As initially announced in Company's press release dated January 18, 2021, the MDB Shareholders are entitled to deferred consideration upon the achievement of certain financial milestones during the two-year period following closing of the sale of MDBriefCase Group Inc., such deferred consideration to be payable in Common Shares of the Company. The Company and MDB Shareholders have mutually agreed that the deferred consideration for the year ended December 31, 2021 shall be paid by the Company to the Vendors in the form of cash and/or shares, at the option of the Company, in two installments. This issuance represents payment for the first 50% of the deferred consideration with the second 50% payable on May 31, 2023. 

About Think Research Corporation

Think Research Corporation is an industry leader in delivering knowledge-based digital health software solutions. The Company's focused mission is to organize the world's health knowledge so everyone gets the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process, standardize care, to facilitate better health care outcomes. The Company gathers, develops, and delivers knowledge-based solutions globally to customers which typically includes enterprise clients, hospitals, health regions, healthcare professionals, and / or governments. The Company has gathered a significant amount of data by building its repository of knowledge through its network and group of companies, including acquired companies.

Think licenses its solutions to over 13,000 facilities for over 300,000 primary care, acute care, and long-term care doctors, nurses and pharmacists that rely on the content and data provided by Think to support their practices.  Millions of patients and residents annually receive better care due to the essential data that Think produces, manages and delivers.

In addition, the Company collects and manages pharmaceutical and clinical trial data via the BioPharma Services entity that Think acquired on September 10, 2021.  BioPharma Services is a leading provider of bioequivalence and Phase 1 clinical research services to pharmaceutical companies globally. Think's other services include a network of digital-first primary care clinics and medical clinics that provide elective surgery. Visit: thinkresearch.com

For more information: https://www.thinkresearch.com/ca/investors/

SOURCE Think Research Corporation

Mark Sakamoto, Executive Vice President, Think Research Corporation, Direct: 416.388.7119, [email protected]