INND) Announces Favorable Debt Restructuring and Cancellation of $1.1 Million Convertible Bonds

Commitment to eliminating all current variable-price convertible debt

ROSEVILLE, Calif., Feb. 03, 2022 (GLOBE NEWSWIRE) — via InvestorWire — InnerScope Hearing Technologies Inc. (OTC: INND) (“InnerScope”), an emerging and disruptive leader in direct-to-consumer hearing technology, today announced that it has successfully negotiated the cancellation of a series of variable-price convertible notes, with a aggregate principal amount of $1.1 million held by GS Capital Partners, LLC (“GS Capital”) resulting in a favorable restructuring of its funding arrangements.

As a result of these transactions, InnerScope eliminated nearly half of its outstanding convertible variable price notes. The Company expects to phase out the remainder of its current convertible variable price notes in several weeks.

Matthew Moore, President and CEO of InnerScope, said, “InnerScope is pleased to enter into these shareholder-friendly financing agreements, which improve our balance sheet and capital structure. We appreciate the support of GS Capital in completing this transaction as they continue to be a strong financial partner for us. We will work diligently to secure the most attractive financing terms that support our growth and maximize value for our shareholders,” concluded Mr. Moore.

About InnerScope Hearing Technologies, Inc. (OTC PINK: INND):

InnerScope Hearing Technologies Inc. is a leading manufacturer and direct-to-consumer (DTC) distributor of hearing aids, hearing aids, hearing health products and personal sound enhancement products (PSAPs) (“Products”). hearing aids”) registered with the FDA. demand for affordable hearing solutions. InnerScope’s hearing products and business model overcome persistent barriers that prevent access to effective hearing solutions.

The recent from InnerScope acquisition of iHear Medical Inc., a cloud-based DTC hearing solutions provider, gives the company access to over 40 patents and an FDA-registered manufacturing and R&D facility. Additionally, InnerScope has acquired HearingAssist, an established leader in the direct-to-consumer hearing aid market with a customer base of over 400,000. These acquisitions, combined with a partnership with Atlazo inc., a semiconductor innovator for next-generation AI smart devices, will further position InnerScope in the direct-to-consumer hearing solutions market by selling advanced hearing products through Walmart and other major retailers.

InnerScope’s full line of hearing healthcare products are currently available through these multiple retail/wholesale channels: walmart.com, Amazon.co.uk, giant eagle, Hy Vee, Hartig drug, Gastronomic city, and Cardinal Health dba RGH Enterprises Inc. Other major in-store and online retailers will be launching soon.

For more information on the latest hearing aids from InnerScope Hearing Technologies and related hearing products, please visit:

http://iheardirect.com

http://hearingassist.com

http://innd.com

For the latest information on InnerScope hearing technologies (OTC: INND), please visit and follow our official Twitter account @inndstock:

https://twitter.com/inndstock

InnerScope Hyperlinks:

hearing aid

hearing aid – Walmart.com

Acquisition of iHear Medical Inc.

Acquisition of HearingAssist

Direct-to-consumer hearing aids.

InnerScope’s Flexible Hearing Health Subscription Plans

Safe Harbor

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, intended to be covered by the “safe harbor” created by these sections. All statements that are not historical facts contained in this press release are also “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements can be identified by words such as “expects”, “plans”, “projects”, “will”, “may”, “anticipates”, “believes”, “should”, “has intention of”, “esteem” and other words of the same meaning. These forward-looking statements are based on current expectations, involve known and unknown risks, reliance on third parties for information, transactions or orders that may be undone, and other factors that may affect our results, actual performance or achievements, or developments in our industry, differ materially from any anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties relating to fluctuating global economic conditions, the performance of management and our employees, our ability to obtain financing or to maintain contractual relationships with suppliers and customers, competition, economic conditions and other factors which are detailed in our periodic reports filed with the Securities and Exchange Commission (“SEC”). We intend that all forward-looking statements be subject to the safe harbor provisions of the PSLRA, the Securities Act and the Securities Exchange Act.

Contact:

InnerScope Hearing Technologies, Inc.

Investor Relations

[email protected]

833-788-0506

www.innd.com

Contact Investor Relations Agency:

Skyline Business Communications Group, LLC
Lisa Gray, Senior Account Manager

One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
E-mail: [email protected]

For the latest information on InnerScope hearing technologies (OTC: INND), please visit and follow our official Twitter @inndstock page.

Contact wire service
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
[email protected]

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