WEST PALM BEACH, Fla., March 10, 2022 (GLOBE NEWSWIRE) — Rennova Health, Inc. (OTC: RNVA), today announced that effective 5:00 p.m. Eastern Time on March 15, 2022 (the “Time”), the Company will effect a reverse stock split of 1 for 10,000 of its outstanding common shares. The common shares of the Company will open for trading on Wednesday, March 16, 2022, on a post-split basis.

Following the Share Consolidation, each 10,000 common shares of the Company issued and outstanding at the Effective Time will be consolidated into one issued and outstanding share, except to the extent that the Share Consolidation results in one of the shareholders of the Company owning a fraction of a share, which fraction of a share will in this case be paid in cash. As part of the reverse stock split, there will be no change in the par value per share of $0.0001.

Trading in the Company’s common shares will continue, on a split-adjusted basis, with markets open on Wednesday, March 16, 2022. Based on the number of shares currently outstanding as of March 9, 2022, the consolidation of shares will reduce the number of common shares of the Company outstanding from approximately 44 billion shares before the reverse split to approximately 4.4 million shares after the reverse split.

All preferred stock, stock options, warrants and stock incentive plans outstanding immediately prior to the stock consolidation will generally be adjusted appropriately by dividing the number of common stock in which preferred stock, stock options, warrants and stock incentive plans are exercisable or convertible by 10,000 and multiplying the exercise or conversion price by 10,000, at the following the reverse stock split.

The Company has retained the services of its transfer agent, Computershare, Inc., to act as exchange agent for the share consolidation. If necessary, Computershare will provide shareholders of record at the Effective Time with a Letter of Transmittal containing instructions for the exchange of their share certificates. Shareholders holding shares through a broker or other agent will have their positions automatically adjusted to reflect the share consolidation, subject to the brokers’ particular processes, and will not be required to take any action in connection therewith. with the reverse stock split.

The reverse stock split was approved by the directors of the Company on March 9, 2022, pursuant to a resolution passed with the written consent of the holders of a majority of the aggregate voting rights of the securities of the Company on December 15, 2021. About Rennova Health, Inc.

Rennova is a provider of healthcare services to rural communities. The Company has an operating acute care hospital in Oneida, Tennessee known as Big South Fork Medical Center (classified as a critical access hospital), an acute care hospital and medical office located in Jamestown, in Tennessee, which it plans to reopen and operate, and a rural clinic in Kentucky. For more information, please visit www.rennovahealth.com

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, accordingly, you should not rely on such statements. prospective. than predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “will” , “could”, “should”, “believes”, “predicts”, “potential”, “continues” and other similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results may differ materially from expected results. Additional information regarding these and other risk factors is contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to not place undue reliance on forward-looking statements, which speak only as of the date made. The Company neither undertakes nor accepts any obligation or commitment to issue updates or revisions to any forward-looking statements to reflect all that any change in their expectations or any change in events, conditions or circumstances on which such statement is based, except as required by law.

Contact:

Rennova Health 561-855-1626 info@rennovahealth.com

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