Mitesco, Inc. Announces up to $15 Million Unit Preferred Capital Raise

Company Announces Details of its General Solicitation Offering Under Regulation D 506(c) of the Securities Act Solely to Accredited Investors and Institutional Investors

Denver, CO - (NewMediaWire) - April 27, 2020 - Mitesco, Inc. (OTCQB: MITI) (the “Company” or “Mitesco”) announced today the details of its general solicitation private placement offering (“Offering”) solely to accredited investors under Rule 506(c) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (“Securities Act”).

The Company has engaged CIM Securities, LLC ("CIM") as the exclusive lead placement agent. CIM invites all interested broker-dealers and accredited investors interested in participating in the Offering, to contact Mr. Jack Myers at CIM Securities via email at: JMyers@cimsecurities.comor by phone at: 619-749-2460.

“The Company has several initiatives which will benefit from this funding, including the roll-out of the MyCare clinic network. The team is moving forward, and while the effort will begin in Minneapolis, 23 states are encouraging nurse practitioners to practice to the full scope of their skills and training. Those states would be primary targets for clinics in both urban and rural locations. We are including the implementation of telehealth as a part of the practice. We believe telehealth will enhance the providers’ ability to focus on consumer needs wherever and whenever they arise,” shared Larry Diamond, the CEO of the Company.

“There are technology-oriented acquisitions, both domestically and in Europe, that can be accelerated with this level of funding. It is an excellent time to be acquiring proven solutions that reduce cost, improve quality, and enhance convenience for the consumer,” explained Julie R. Smith, President & COO.

The Best Efforts Offering, which will have maximum gross proceeds of up to $15 million in Units, consists of Series A Preferred stock and Warrants for the purchase of common stock:

1.    The Unit for each subscriber will consist of Series A Perpetual Preferred Stock Unit priced at $25.00 per share, which pays 10% annual dividend paid monthly and is redeemable after 3 years. This is not convertible into common stock, and the Company plans to undertake its best efforts to file an S-1 within 90 days of closing and to list the shares separately from its common stock;

2.    For each $25,000 of Series A Preferred stock purchased, the investor will receive 2,500 three (3) year investor warrants for the purchase of common stock, half (1,250) of which are exercisable at $0.15 per share, and half (1,250) of which are exercisable at $0.30 per share as warrants.

Additional details are included in the Company's Private Placement Memorandum which is available to any accredited investor by contacting CIM Securities, LLC.

This advertisement does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful.

Under Rule 506(c), general solicitation of offerings is permitted, however, purchasers in a Rule 506(c) offering must be "accredited investors." The SEC defines the term "accredited investor" in Rule 501(a). Generally, individuals are considered accredited investors if they have a net worth greater than $1 million (excluding their primary residence) or incomes above $200,000 in the last two years with the expectation of the same in the current year (or $300,000 with a spouse).

Our Operations and Subsidiaries: My Care, LLC, and Acelerar Healthcare Holdings, LTD.

MyCare, LLC is a wholly-owned subsidiary of Mitesco N.A. LLC, the holding company for North American operations. MyCare is building out a network of clinics using the latest telehealth technology with the nurse practitioner operating as its primary healthcare provider. It will begin in Minneapolis and expand nationwide. There are 23 states today that facilitate nurse practitioners practicing to the full scope of their skills and training.  The executive team at MyCare includes several of the key executives who brought Minute Clinic (previously known as Quickmedix) to scale, which was acquired by CVS for $170 million in 2006.

Acelerar Healthcare Holdings, LTD. is the Company’s wholly-owned, Dublin, Ireland based entity for its European operations. There are several targets in Europe under evaluation and management believes cross border expansion for these new, proven healthcare technology solutions may prove a profitable opportunity.

About CIM Securities, LLC

CIM Securities (www.cimsecurities.com) is an independent investment bank that serves micro-cap and small-cap companies by providing capital raising solutions and also merger and acquisition services for companies seeking growth capital or services. CIM Securities also caters to individual investors providing comprehensive brokerage and money management solutions. CIM Securities provides institutional investors and individual investors periodic opportunities to participate in public offerings and private placements of public or private companies.

The address for CIM Securities:6898 S. University Blvd, Centennial, CO 80122. The investment banking representative is Jack Myers, who can be reached at: JMyers@cimsecurities.comand his phone is 619-749-2460. 

The Mission of Mitesco, Inc. formerly known as True Nature Holding, Inc.

We have in development a suite of offerings aimed at enhancing healthcare throughout the supply chain and to end-users. We intend to acquire and implement technologies and services to improve the quality of care, reduce cost, and enhance consumer convenience. We are focused on developing a portfolio of companies that provide healthcare technology solutions and the team is adept at deal structures supportive of long-term organizational value. The holding company structure facilitates profitable growth and enables the acquired business to focus on scale. The MITI portfolio of companies will apply leading-edge solutions that emphasize stakeholder value and leverages distinct sector trends. 

Statement Under the Private Securities Litigation Reform Act

As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances, and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimating or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect True Nature Holding, Inc. is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.

Contact by email at: investors@mitescoinc.comor by phone at: 1-844-383-8689.