American International Holdings Secures Financing From Institutional Investors; Company to Accelerate 2021 Growth Strategy

Addison, TX, Jan. 12, 2021 (GLOBE NEWSWIRE) -- American International Holdings Corp. (OTCQB: AMIH) (“AMIH” or the “Company”), a diversified holding company dedicated to acquiring, managing and operating, health, wellness, infrastructure and technology companies, today announced that it has entered into a Stock Purchase Agreement (the “SPA”) for the purchase of up to $1,450,000 of Secured Promissory Notes (the “Notes”) with two institutional investors (the “Investors”).

Pursuant to the SPA, the Investors purchased $850,000 of the Notes upon closing and have agreed to purchase the remaining $600,000 in Notes upon the Company’s timely filing and effectiveness of a registration statement and upon the Company’s meeting certain equity conditions and requirements as further defined and described in the SPA. Please see the Company’s report on Form 8-K for complete details on this financing. The sale of the Notes included warrants which were granted to each of the Investors and other requirements, as described in greater detail in the Form 8-K.

The investment is expected to enable the Company to further invest into marketing, customer acquisition, and additional technologies, products and services associated with its online telemedicine platform, www.ZipDoctor.co. The Company plans to utilize a portion of the proceeds to pay off and eliminate all prior convertible notes outstanding.

“This financing transaction marks a significant milestone for the Company as we are able to pay off and eliminate all prior existing convertible notes and are expected to have the capital needed to further our growth and development plans as we head into 2021,” commented Jacob Cohen, the Company’s Chief Executive Officer. “In addition, the new investment, along with an ongoing Reg A offering, is anticipated to provide the capital needed to allow the Company to identify strategic acquisition targets as we look forward to continuing to build value for all of our shareholders,” further commented Mr. Cohen.

About American International Holdings Corp.
American International Holdings Corp. is a diversified holding company dedicated to (a) acquiring, managing and operating health, wellness, infrastructure and technology companies, businesses and/or brands located both in the United States and abroad; (b) operating and managing an online platform providing customers with access to life and career coaches through LifeGuru, Inc. (www.LifeGuru.me, which is currently in development); and (c) operating and managing an online telemedicine platform connecting customers to board certified physicians and licensed mental and behavioral health counselors through ZipDoctor, Inc. (www.ZipDoctor.co). The Company seeks opportunities to acquire and grow businesses that possess strong brand values and that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for the Company and its stakeholders.