Global Care Capital Corp. (CSE:
HLTH, 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 its portfolio company, ViraxClear, through its
operating entity, Shanghai Biotechnology Devices Ltd.
(“
SBD”) has on May 5th, 2020, finalized supply
contracts with Shenzhen Qianhai Huolilang Technology Co., Ltd.
(“
Qianhai”) for the supply of KN95 Masks (the
“
Masks”) manufactured by Promask Electronic
Medical Device (Guangzhou) Manufacturing Co., Ltd.
(“
Promask”) globally.
Agreement Between SBD and Qianhai
Pursuant to the SBD contract with Qianhai, SBD
has agreed to purchase Masks manufactured by Promask. SBD has
a non-exclusive right to distribute and sell Masks into any market
it wishes, in its discretion, subject to providing written notice
to Qianhai. SBD intends to primarily distribute the Masks in
Europe and North America. Under the terms of this
arrangement, SBD provides production orders to Qianhai, from time
to time as it identifies sales opportunities and Qianhai allocates
Promask KN95 Masks to support these orders under agreed purchase
orders. SBD does not currently have purchase orders in hand
with relation to this agreement. If the quantity of a
purchase order from SBD is greater than 100,000 Masks and less than
10,000,000 Masks, SBD must give Qianhai at least seven days notice.
The duration of the agreement between SBD and Qianhai is two
years.
Promask KN95 Masks
The Promask KN95 Masks are CE marked, allowing
for sales to the European market and are available for sale to the
United States.
James Foster, ViraxClear CEO, states, “This
Contract provides ViraxClear with a substantial and ongoing supply
of masks from a reliable source to fulfil demand in markets
experiencing a shortage of PPE. This allows for the rollout of our
PPE distribution platform beyond that of our main Hong Kong
warehouse in order to expedite deliveries to customers in North
America and Europe.”
CE Marking
CE marking is a certification mark that
indicates conformity with health, safety, and environmental
protection standards for products sold within the European Economic
Area ("EEA"). The CE marking is also found on
products sold outside the EEA that have been manufactured to EEA
standards. This makes the CE marking recognizable worldwide even to
people who are not familiar with the European Economic Area (the 27
member states of the EU, the 4 members of European Free Trade
Association (“EFTA”), plus Turkey and United
Kingdom). CE marking also supports fair competition by holding all
companies accountable to the same rules.
ViraxClear Sales Platform
ViraxClear has stocked its Hong Kong warehouse
with an initial 10,000 IgM-IgG Combined Antibody COVID-19 Test
Kits, which it has been selling to customers in North America,
South America, Europe and Asia. Pursuant to recent PPE supply
contracts, customers will be able to order KN95 Masks, as well as
the ViraxClear Test Kits.
Appointment of Doctor Tomasz George
ViraxClear has appointed Doctor Tomasz George as
Chief Scientific Officer. Dr Tomasz George has a BSc from
University College London and a PhD from King’s College London. He
has 12 years of experience in developing digital healthcare systems
focusing on diagnostics, physiological assessments, biochemistry
and laboratory analysis. Tomasz has held the position of Chief
Scientific Officer for London based Soza Health and Singapore based
Verita Healthcare Group and has worked in scientific research at
Liverpool St John’s University.
Qianhai is an arm’s length parties to the
Company, ViraxClear and SBD.
The Company has conducted due diligence on the
KN95 masks manufactured by Promask. ViraxClear provided the
Company with the CE marking for the masks manufactured by Promask
and James Foster, CEO of ViraxClear has inspected the masks
physically in Shanghai.
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 has also entered into agreements
with the following arms-length parties: Aktien Check AG, effective
May 7th, 2020, to provide digital marketing services on behalf of
the Company for a term of one month and Danayi Capital Corp.
effective May 7th, 2020, to provide digital marketing services on
behalf of the Company for a term of one month. The agreement with
Aktien Check AG provides for a one-time payment of EUR 50,000. The
agreement with Danayi Capital Corp. provides for a one-time payment
of US$ 50,000.
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
Neither the CSE nor its regulation
services provider accepts responsibility for the adequacy or
accuracy of this release.
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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