Certive Announces Expanded Partnership with TechSlayers to Provide Cybersecurity Solutions

Rhea-AI Summary

Certive Solutions Inc. (OTCQB:CTVEF) announced an expanded partnership with TechSlayers LLC to enhance cybersecurity solutions in healthcare. The agreement positions Certive Health Compliance Solutions as the exclusive channel partner for the Cyber Health Suite, aimed at improving security and reducing costs for healthcare clients. Additionally, Certive disclosed a private placement of ten US$100,000 Units to fund its subsidiary CHCS and the conversion of debt into 1,015,440 common shares. The company aims to leverage TechSlayers' technology to boost market share and client support.

Positive

• Expanded partnership with TechSlayers enhances cybersecurity offerings for healthcare.
• Exclusive channel partnership for Cyber Health Suite expected to drive sales growth.
• Private placement funding of US$1,000,000 allocated for building out CHCS.
• Debt conversion reduces liabilities by settling approximately US$65,907.

Negative

• None.

SCOTTSDALE, AZ and VANCOUVER, BC / ACCESSWIRE / March 8, 2022 / Certive Solutions Inc. (OTCQB:CTVEF) (CSE:CBP) ("Certive" or the "Company") is pleased to announce the following:

TechSlayers - Certive is pleased to announce that its subsidiary, Certive Health Compliance Solutions ("CHCS"), has entered into an expanded Channel Partner Agreement with TechSlayers LLC, ("Tech Slayers") a Wyoming Limited Liability Company. TechSlayers' RED TEAM SUITE of products provide state-of-the-art, continuous, HIPAA-compliant security solutions which safeguard healthcare clients from adversarial cyber-attacks. TechSlayers' zero-trust architecture of tools and kits are focused on External Security, Internal Security and Active Security. Clients utilizing such tool kits are expected to experience cost savings in liability insurance premiums, security audit and other IT consultative fees and should alleviate potential ransom demands, fines and penalties due to security breaches. Companies with fully deployed security automation technologies (which leverage AI, analytics and automated orchestration) experienced less than half the data breach costs compared to those who didn't have these tools. Certive's new Cyber Health Suite is a cost-effective way to Continuously Self-Assess, Validate, and Fix Identified Real Vulnerabilities with the click of a button.

Under the expanded Channel Partner Agreement with TechSlayers, CHCS will serve as a preferred and exclusive channel partner in selling the Certive Cyber Health Suite of products and services utilizing TechSlayers technology for any providers in the health care vertical. CHCS will provide sales and servicing of the clients, including onboarding and training of clients' personnel, ongoing customer support, and client retention for the healthcare vertical. The Parties have agreed to work collaboratively in expanding the footprint of TechSlayers' proprietary and patented technology in other vertical markets as opportunity permits. To expedite sales and marketing efforts Certive has negotiated "most favored nation pricing" to take TechSlayers cybersecurity solution to market. Tom Marreel, CEO of Certive states, "This expanded relationship and aligned partnership will allow Certive to focus on gaining market share within the healthcare vertical. Partnering with Tech Slayers, we will better serve the cybersecurity needs of our clients, so that health care leaders can operate more confidently, and empower those leaders to focus on what they are passionate about. We would encourage all our stakeholders to follow Certive Health by using LinkedIn and Twitter."

Offering - The Company is also pleased to announce revisions to the non-brokered Private Placement disclosed in a previous Press Release dated November 1^st, 2021. The funds received from this Offering are being utilized for the purpose of establishing and building out its subsidiary CHCS. The Offering will consist of ten US$100,000 "Units" and each Unit shall include the following:

• US$50,000 for 500,000 shares of Certive at a deemed value of US$0.10/share; and
• US$50,000 for a 0.5% direct ownership of Certive's new operational subsidiary CHCS, which has a deemed valuation of US$10M;
• 250,000 Warrants for common shares of Certive, the Warrants will have a Term of two years, and shall be exercisable at US$0.14/share; and
• The funds received for this Offering will accrue simple interest of 10% per annum, which will be settled at closing with additional shares of Certive at a deemed value of US$0.10/share and Warrants in the same proportion as above.

Debt Conversion - Certive is also pleased to announce the conversion of the principal and accrued interest due to a lender under a convertible promissory note and the conversion of fees due to a consultant, into a total of 1,015,440 Common Shares of Certive, at a conversion price of approximately US$0.065/share, settling approximately US$65,907 of total debt.

For more information regarding this announcement, please visit our website at https://certivehealth.comor contact Certive directly at (480) 228-5881.

Scott Thomas
Investor Relations, Certive Solutions Inc.
sthomas@certive.com

About Certive Solutions Inc.

Certive Solutions Inc. (Scottsdale, Arizona) is currently 100% focused on the operations and value proposition of its wholly owned subsidiary, Certive Health Inc., and its subsidiaries. With identical Board of Directors, Management, Advisory Council, Mission and Vision, Certive Solutions is strategically positioned as a public company. All are investors in the company - all have significant networks. Their collective experience, expertise, and relationships is the people-equity upon which the company was founded. Certive Health's vision is making the $3.7 trillion healthcare market better by applying its People-Equity and Capital to solutions in the healthcare communities it serves. Certive Health's revenue cycle services and solutions assist hospitals with the complexity of the reimbursement process and improve their financial and quality performance.

FORWARD-LOOKING STATEMENTS 

Statements contained in this report that are not statements of historical fact are intended to be and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Reform Act. Forward-looking statements include expressed expectations of future events and the assumptions on which the expressed expectations are based. All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected. Due to those uncertainties and risks, the investment community is urged not to place undue reliance on written or oral forward-looking statements of Certive Solutions Inc. The Company undertakes no obligation to update or revise this Safe Harbor Compliance Statement for Forward-Looking Statements (the "Safe Harbor Statement") to reflect future developments. In addition, Certive undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

SOURCE: Certive Solutions, Inc.

View source version on accesswire.com:
https://www.accesswire.com/692101/Certive-Announces-Expanded-Partnership-with-TechSlayers-to-Provide-Cybersecurity-Solutions

FAQ

What is the significance of Certive's partnership with TechSlayers?

The partnership provides Certive with exclusive rights to market TechSlayers' cybersecurity technology, enhancing Certive's offerings in healthcare and potentially driving revenue growth.

How much funding is Certive Solutions raising through the private placement?

Certive Solutions is raising US$1,000,000 through the sale of ten US$100,000 Units in a non-brokered private placement.

What will the funds from the private placement be used for?

The funds will be used to establish and build out Certive's subsidiary, Certive Health Compliance Solutions.

How has Certive managed its debt?

Certive has converted approximately US$65,907 of debt into 1,015,440 common shares, reducing its liabilities.

What does TechSlayers' RED TEAM SUITE offer?

The RED TEAM SUITE provides HIPAA-compliant security solutions designed to protect healthcare clients from cyber-attacks and reduce associated costs.