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Greybrook Health Announces Acquisition of Common Shares of Greenbrook TMS Inc.

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TORONTO, May 21, 2020 (GLOBE NEWSWIRE) -- Greybrook Health Inc. (“Greybrook Health”) announced today that it has acquired 848,485 common shares (the “Common Shares”) of Greenbrook TMS Inc. (the “Corporation”) through the Corporation’s previously-announced public offering of Common Shares (the “Offering”), representing approximately 1.26% of the issued and outstanding Common Shares of the Corporation (after giving effect to the Common Shares issued today by the Corporation in connection with the Offering). The acquisition by Greybrook Health of the Common Shares brings Greybrook Health’s total holdings of such securities to 21,638,485 Common Shares (or approximately 32.05% of all outstanding Common Shares, after giving effect to the Offering). The Common Shares were purchased as part of the Offering through a syndicate of agents co-led by Bloom Burton Securities Inc. and Clarus Securities Inc. at a price of C$1.65 per Common Share, for an aggregate purchase price of approximately C$1.4 million.

Before giving effect to the Offering, Greybrook Health owned 20,790,000 Common Shares and Greybrook Realty Partners Inc. (“Greybrook Realty”), an affiliate of Greybrook Health, owned 1,000,000 Common Shares (representing in the aggregate approximately 37.30% of the issued and outstanding Common Shares). After giving effect to the Offering, Greybrook Health owns 21,638,485 Common Shares and Greybrook Realty owns 1,000,000 Common Shares (representing in the aggregate approximately 33.53% of the issued and outstanding Common Shares).

The Common Shares were acquired by Greybrook Health for investment purposes. Greybrook Health may determine to purchase additional Common Shares in the open market or otherwise or sell all or some of the Common Shares, depending upon price, market conditions, availability of funds, evaluation of alternative investments and other factors.

An early warning report will be filed by Greybrook Health in accordance with applicable securities laws and will be available on SEDAR at www.sedar.com or may be obtained directly from Sasha Cucuz, President & Secretary of Greybrook Health upon request at (416) 322-9700.

Greybrook Health and the Corporation’s head and registered offices are located at 890 Yonge Street, 7th Floor, Toronto, Ontario M4W 3P4.

Greybrook Health is focused on partnering with strong management teams in the healthcare sector. Greybrook Health applies a hands-on investment approach, assisting management teams to unlock growth potential through deep expertise in commercializing healthcare services, products and medical devices.