April 17 (Reuters) - Smiles Inclusive Ltd (SIL) : GOT NOTICE...

April 17 (Reuters) - Smiles Inclusive Ltd (SIL) :

• GOT NOTICE FROM DR JOHN CAMACHO PURPORTING TO REPRESENT 16 OF TOTALLY SMILES' 98 DENTISTS
• NOTICE SEEKING TO TERMINATE THEIR SERVICE AGREEMENTS
• IS IN PROCESS OF CONTACTING DENTISTS NAMED IN DR CAMACHO'S LETTER TO UNDERSTAND THEIR INTENTIONS
• CONFIRM THAT IT IS IN ADVANCED TALKDS FOR A TRANSACTION WHICH, IF COMPLETED, WOULD MATERIALLY IMPROVE ITS FINANCIAL POSITION
• ALL CO'S PRACTICES ARE TEMPORARILY CLOSED OTHER THAN FOR EMERGENCY PROCEDURES DURING COVID-19 PANDEMIC
• MAJORITY OF DENTISTS INFORMED THEY WERE UNAWARE OF DR CAMACHO’S LETTER & IT IS NOT THEIR INTENTION TO TERMINATE SERVICE AGREEMENTS
• TALKS FOR THE TRANSACTION WOULD ALSO PROVIDE CO WITH CAPITAL TO CONTINUE THROUGH REMAINDER OF CURRENT TEMPORARY SHUTDOWN AND BEYOND