REPEAT -- Global Care Capital Inc. Closes Acquisition of ViraxClear and Portfolio Company, ViraxClear, Receives FDA Emergency...
April 21 2020 - 8:00AM
Global Care Capital Corp. (CSE:
HLTH, OTC:
RSCZF, FRANKFURT:
L6V1) (the “
Company” or
“
Global Care”) is pleased to announce that
ViraxClear, has obtained Emergency Use Authorization (EUA) by the
Food and Drug Administration (“
FDA”) for the
COVID-19 test kits it distributes and markets. ViraxClear’s tests
can be used by clinical laboratories certified under Clinical
Laboratory Improvement Amendments (CLIA). ViraxClear’s COVID-19
test kit also has CE marking allowing sales to the European
Community, and to other global markets that accept a CE marking as
valid regulatory approval following routine local product
registration.
The Company has conducted normal course due
diligence to verify the FDA (EUA) and CE marking approvals for the
antibody test kits that ViraxClear markets and distributes and its
manufacturing partner, Shanghai Liangrun Biomedicine Technology Co.
Ltd. manufactures.
The Company will keep the market apprised of
ongoing aggregate purchase orders for test kits received by
ViraxClear, secured by customer deposit, in excess of
US$100,000.
Alex Somjen, president and chief executive
officer of Global Care states: "We believe that this authorization
is a significant step in helping this COVID-19 test to reach an
even wider audience. We believe that serology tests are a
potentially powerful tool for identifying anyone who has been
infected, whether they have symptoms or not. Many experts agree
that accessibility of widespread testing is an important element to
'flattening the curve'. We look forward to ViraxClear pursuing
their goal of increasing the availability of advanced and
cost-effective COVID-19 testing solutions across the globe."
The company is not making any express or implied
claims that it has the ability to treat the COVID-19 virus at this
time.
The Company also announces that its acquisition
of ViralClear Rapid Test Corp (d/b/a ViraxClear), closed on April
17th, 2020, under the same terms set out in the Company’s news
release dated April 16, 2020.
The Company is fully disclosed of all material
news at this time and has not published any paid for material.
The Company wishes to note that the trade name
VirexClear was used in the Company’s news release dated April 16th,
2020. The Company confirms that the correct trade name is
ViraxClear.
The Company is also pleased to announce the
appointment of Hybrid Financial on April 15th, 2020, as its
Investor Relations Advisor, effective immediately. The
agreement with Hybrid Financial provides a monthly fee of CAD15,000
for an initial term of six months.
About ViraxClear
ViraxClear focuses on commercializing novel
products that address significant healthcare needs with a
specific target on the novel coronavirus (COVID-19). The
company’s main focus is marketing its ViraxClear Rapid IgM-IgG
Combined Antibody Test. The ViraxClear Rapid IgM-IgG Combined
Antibody Test for COVID-19 is a lateral flow immunoassay used to
qualitatively detect both early and late marker IgG/IgM
antibodies.
About Global Care
Global Care Capital is a global investment
company which specializes in providing early stage financing to
private and public companies. The Company engages in new, early
stage investment opportunities in previously underdeveloped assets
and obtaining positions in early stage investment opportunities
that adequately reflect the risk profile.
GLOBAL CARE CAPITAL
CORP.:
Company Contact:
Alex Somjen, President & CEO
asomjen@globalcarecapital.com
Tel: 416-319-5744
Neither the CSE nor its regulation
services provider accepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States of America. The securities have not been and
will not be registered under the United States Securities Act of
1933 (the "1933 Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons (as
defined in the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such
registration is available.
Forward-Looking Information: This news release
includes certain statements that may be deemed “forward-looking
statements”. The use of any of the words “anticipate”, “continue”,
“estimate”, “expect”, “may”, “will”, “would”, “project”, “should”,
“believe” and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because the Company can
give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
These statements speak only as of the date of this News Release.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks including various
risk factors discussed in the Company’s disclosure documents which
can be found under the Company’s profile on www.sedar.com.
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