- This sales and distribution contract between Victory Square Health and the Brazilian production and distribution company will provide the company with an initial order of 3.7 million Covid-19 Rapid Tests over the next 24 months
- This agreement is in addition to the previously announced business development and sales agreement with Molkom Pharmaceuticals on November 18, 2020
VANCOUVER, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'' or the “Company“) (CSE:VST) (OTC:VSQTF) (FWB:6F6) — portfolio company Victory Square Health (VSH) has entered into a new sales and distribution contract with a Brazilian medical production and supply company on December 14, 2020. The contract will provide for an initial order of 3.7 million Covid-19 Rapid Tests to be supplied from Victory Square Health subject to ANVISA approval. The order is to be filled over a 24-month period.
“This newly announced 3.7 million unit contract for our Covid-19 Rapid Testing kits is an important new sales agreement as we ramp up production supply to Brazil,” said Felipe Peixoto, CEO of Victory Square Health. Peixoto goes on to say, “We are confident that this order will provide the country of Brazil with critical and accurate assistance in identifying and fighting this pandemic while also generating further sales opportunities for VSH in Brazil.”
Today’s announced sales and distribution agreement is in addition to the business development & sales agreement with Molkom Pharmaceuticals announced on November 18, 2020. Molkom has established strong relationships throughout South America and beyond with strategic business connections with distributors, sales supply chains, retail pharmacies, hospitals, and with agencies at all level of government. The Company’s strategic business & sales agreement with Molkom Pharmaceuticals has opened doors to access new sales and supply leads and has been successful with the company’s announcement of today’s 3.7 million unit sales contract.
VS Health was founded in 2016 to accelerate the development of personalized medicine and technology solutions including diagnostic tests to support patient’s care and improve health outcomes. Its first product, the Leishmaniasis Rapid Test, was developed in partnership with the UFMG, Federal University of Minas Gerais. Safetest took advantage of its expertise in the subject to develop other antibody-based tests and a robust R&D pipelines of diagnostic kits for Hansen’s Disease, Brucellosis, HTLV and Blood samples screening tests.
Disclaimer:
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.
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On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies
For further information about the Company, please contact:
Investor Relations Contact – Alex Tzilios
Email: alexandros@victorysquare.com
Telephone: 778-867-0482
Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 604-928-6066
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.
VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't just another investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
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VST is a publicly traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
For investors, we offer early-stage access to the next unicorns before they're unicorns.
Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
Forward Looking Statement
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Victory Square Health Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.