Guided Therapeutics Replaces Convertible Note Facility and Significantly Reduces Dilution

Guided Therapeutics, Inc. or the “Company” (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced today that it has raised an additional US $1.13 million under the terms of a 3-year convertible debenture. The proceeds are intended to pay off an existing convertible note that matures at the end of 2021. The convertible note that is being repaid included a highly dilutive discounted variable conversion mechanism based on the trading price of our common stock over the term of the note. In contrast, the new debenture has a fixed conversion price of $0.50. As a result, if converted, the new debenture will result in significantly less dilution than that produced by the retired note. Aspen Capital and Fieldhouse Capital Management advised the company for this financing.

Additionally, the new debenture will automatically convert into the securities issued in a subsequent financing if that financing is undertaken in connection with an uplisting to Nasdaq.

“Over the past two years, we have made considerable progress in reducing our liabilities and increasing our assets. We believe that these efforts put us in a strong position to obtain a Nasdaq listing for our common stock this year” said Gene Cartwright, CEO of Guided Therapeutics. “Additionally, we are pleased with recent progress toward regulatory approvals of our products in the US and China that continue to improve the Company’s future prospects”.

About Guided Therapeutics
Guided Therapeutics, Inc. (OTCQB: GTHP) is the maker of a rapid and painless testing platform based on its patented biophotonic technology that utilizes light for the early detection of disease at the cellular level. The Company’s first product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports.

The Guided Therapeutics LuViva Advanced Cervical Scan is an investigational device and is limited by federal law to investigational use in the U.S. LuViva, the wave logo and "Early detection, better outcomes" are registered trademarks owned by Guided Therapeutics, Inc.