Global Care Capital Corp. (CSE:
HLTH, OTC:
RSCZF, FRANKFURT:
L6V1) (the “
Company” or
“
Global Care”) a global investment company which
engages in early stage investment opportunities in private and
public companies, is pleased to announce that ViraxClear, through
its joint venture (“
Joint Venture”) Shanghai
Biotechnology Devices Ltd. (“
SBD”) has on April
30th, 2020, finalized supply contracts with Shanghai CP Adaltis
Diagnostics Co., Ltd. (“
Shanghai CP”), for the
distribution of COVID-19 Antibody Test Kits (the “
Test
Kits”) manufactured by Innovita Biological Technology Co.,
Ltd. (“
Innovita”), into the European market
and a second contract with Shenzhen Qianhai Huolilang Technology
Co., Ltd. (“
Qianhai”), for the distribution of the
Test Kits manufactured by Nanjing Vazyme Biotech Co.,
(“
Vazyme”
), into the European and
Singapore markets.
Alexander Somjen, CEO of Global Care states, “We
believe detection and prevention have demonstrated success as key
initial steps in dealing with the COVID-19 pandemic. Many countries
do not have access to Test Kits, which we believe hinders their
ability to protect the public and re-open the economy. SBD has
partnered with suppliers to deliver Test Kits to areas that may
have a need.
“With these contracts in place, SBD has entered
into agreements for a significant supply of Test Kits. We
hope that ViraxClear will now be able to leverage these supply
entitlements to distribute and sell Test Kits with CE marking,
particularly in Europe where there is an apparent shortage.”
Agreement Between SBD and Shanghai CP
Pursuant to the SBD contract with Shanghai CP,
SBD has agreed to purchase Test Kits manufactured by Innovita, with
a right to distribute and sell those kits into the European
Market. Under the terms of this arrangement, SBD
provides production orders to Shanghai CP, from time to time as it
identifies sales opportunities at which point Shanghai CP will
allocate production from its facilities to support these
orders. SBD has placed an initial order for 120,000 Test
Kits, with an aggregate entitlement under the agreement of up to
1,000,000 Test Kits. SBD does not currently have purchase
orders in hand with relation to this agreement and has not yet paid
for the 120,000 Test Kit order.
Agreement Between SBD and Qianhai
Pursuant to the SBD contract with Qianhai, SBD
has agreed to purchase Test Kits manufactured by Vazyme. SBD
has a non-exclusive right to distribute and sell Test Kits into any
market it wishes, in its discretion, subject to providing written
notice to Qianhai. SBD intends to distribute the Test Kits in
the regions they are approved: Europe and Singapore.
Under the terms of this arrangement, SBD provides production
orders to Qianhai, from time to time as it identifies sales
opportunities and Qianhai allocates Vazyme Test Kit products to
support these orders under agreed purchase orders. SBD does
not currently have purchase orders in hand with relation to this
agreement. The duration of the agreement between SBD and
Qianhai is two years.
Innovita Test Kits
The Innovita Test Kits are CE marked, allowing
for sales to the European Market.
Website:
http://www.innovita.c23om.cn/
Vazyme Test Kits
The Vazyme Test Kits are CE marked, allowing for
sales to the European Market and have received approval by The Food
and Drug Administration of the Philippines as well as Singapore’s
Health Sciences Authority.
Website:
http://www.vazymebiotech.com/
Shanghai CP and Qianhai are arm’s length parties
to the Company, ViraxClear and SBD.
The Company is not making any express or implied
claims that it has the ability to treat the COVID-19 virus at this
time.
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.
All statements in this news release, other than
statements of historical fact, are "forward-looking information"
with respect to the Company within the meaning of applicable
securities laws, including, but not limited to statements with
respect to the focus of the Company’s business; completion of
supply contracts with Shanghai CP and Qianhai; the ability of
Shanghai CP to secure product from Innovita and Qianhai to secure
product from Vazyme; ability to supply Test Kits with CE Marking;
ability to supply and sell Test Kits to the European, Philippine
and Singapore markets; prevention efforts related to the COVID-19
pandemic; and global access to Test Kits. Forward-looking
information is often, but not always, identified by the use of
words such as "seeks", "anticipates", "plans", "continues",
"expects", "projects", "predicts", "potential", "targets",
"intends", "believes", "potential", "budgets", "schedules",
"estimates", "forecasts" and similar expressions (including the
negative of such expressions), or describes a "goal", or variation
of such words and phrases or state that certain actions, events or
results "may", "should", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking information is not a
guarantee of future performance and is based upon a number of
assumptions of management at the date the statements are made
including, among others, assumptions about the ongoing global
impact of, and efforts to combat, the COVID-19 pandemic; that the
representations and warranties of counterparties including, but not
limited to, their existence, status, ability to sell and authority
to enter into contracts is true and correct; the relationships
between counterparties; that counterparties are able to meet
contractual obligations including the delivery of Test Kits as
specified in a timely manner; that Test Kits can be sold into
specified markets and include specified markings; that specified
markings with respect to Test Kits remain valid; import and export
of Test Kits; currency exchange rates and interest rates;
favourable operating conditions; political stability; obtaining
governmental approvals; labour stability; stability in market
conditions; availability of equipment and supplies; successful
resolution of disputes and anticipated costs and
expenditures. Management believes these assumptions are
reasonable. In addition, many assumptions are based on
factors and events that are not within the control of the Company
and there is no assurance they will prove to be correct.
Such forward-looking information involves known
and unknown risks, which may cause the actual results to be
materially different from any future results expressed or implied
by such forward-looking information, including, risks related to
the speculative nature of the Company’s business; the Company’s
formative stage of development; the Company’s financial position;
the ongoing global impact of, and efforts to combat, the COVID-19
pandemic; that the representations and warranties of counterparties
including, but not limited to, their existence, status, ability to
sell and authority to enter into contracts be untrue; that
counterparties not be able to meet contractual obligations
including the delivery of Test Kits as specified in a timely
manner; that Test Kits cannot be sold into specified markets and do
not include specified markings; that new requirements with respect
to Test Kits emerge; import and export restrictions prohibit the
manufacture and sale of Test Kits; current economic conditions;
future prices of materials; fluctuations in the securities market;
fluctuations in currency markets; change in national and local
government, legislation, taxation, controls, regulation and
political or economic development; inability to obtain adequate
insurance to cover risks and hazards; favourable operating
conditions; availability of equipment and supplies; failure of
equipment or processes to operate as anticipated; possible claims
against the Company; labour and employee disputes; and delays in
obtaining any governmental approvals.
Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise unless required by
law. Accordingly, readers should not place undue reliance on
forward-looking information.
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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