TORONTO, ON – August 17, 2023 – Think Research Corporation (TSXV:THNK) (“TRC” or the “Company“), a company focused on transforming healthcare through digital health software solutions, is pleased to announce that it has obtained a new $1.5 million non-convertible loan (the “Loan”) from Beedie Investments Ltd. (“Beedie Capital”), pursuant to its existing credit agreement with Beedie Capital dated as of April 22, 2022 (as amended, the “Credit Agreement”). Think intends to use the proceeds of the Loan for general and working capital purposes. The Loan is a separate facility from the $25 million convertible facility with Beedie Capital that was previously announced on April 25, 2022. Although the Company has partially drawn upon the convertible facility, the company chose to obtain this Loan to avoid dilution that may otherwise occur by drawing down the convertible facility.”

The Loan is provided pursuant to the Credit Agreement and a third amendment agreement thereto which sets out the terms and conditions of such Loan as follows:

  • The outstanding principal amount of the Loan shall bear interest at a rate of 14% per annum calculated and payable as follows: (i) interest at a rate of 7.0% per annum shall be calculated daily and compounded monthly in arrears on the last day of each month and shall accrue and be payable (including compound interest) on a quarterly basis, and (ii) interest at a rate of 7.0% per annum shall be calculated daily and compounded monthly in arrears on the last day of each month and shall be added to the outstanding principal amount of the Loan at the end of each month.
  • A commitment fee shall also be payable by Think to Beedie Capital (the “Commitment Fee”), which fee shall be added to the principal amount of the Loan.
  • The Loan (including, for greater certainty, the Commitment Fee) together with all outstanding and unpaid interest thereon shall be due and payable on September 20, 2024.
  • Think may make a voluntary prepayment in whole of the Loan at any time upon prior notice by paying to Beedie Capital the outstanding principal amount of the Loan (including, for greater certainty, the Commitment Fee), together with any unpaid interest and, if the prepayment occurs on or prior to the date that is three months following the date of advance of the Loan, a make-whole fee. 

Related Party Transaction

Beedie Capital is a “related party” of the Company as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), and the amendments would constitute a “related party transaction” as defined in MI 61-101 and within the meaning of TSXV Policy 5.9. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and (b) and 5.7(1)(f) of MI 61-101.

About Think Research Corporation

Think Research Corporation is an industry leader in delivering knowledge-based digital health software solutions. The Company’s focused mission is to organize the world’s health knowledge so everyone gets the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process and standardization of care to facilitate better healthcare outcomes. The Company gathers, develops, and delivers knowledge-based solutions globally to customers including enterprise clients, hospitals, health regions, healthcare professionals, and / or governments. The Company has gathered a significant amount of data by building its repository of knowledge through its network and group of companies.

Think licenses its solutions to over 14,200 facilities for over 320,000 primary care, acute care, and long-term care doctors, nurses and pharmacists that rely on the content and data provided by Think to support their practices. Millions of patients and residents annually receive better care due to the essential data that Think produces, manages and delivers.

In addition, the Company collects and manages pharmaceutical and clinical trial data via its BioPharma Services subsidiary. BioPharma Services is a leading provider of bioequivalence and Phase 1 clinical research services to pharmaceutical companies globally. Think’s other services include a network of digital-first primary care clinics and medical clinics that provide elective surgery. Visit

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information:

For further information: Mark Sakamoto, Executive Vice President, Think Research Corporation, Direct: 416.388.7119,