Safe Supply Streaming Announces Closing of the Safety Strips Stake Acquisition and Its Accelerated Commercialization
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Toronto, Ontario--(Newsfile Corp. - March 4, 2024) - Safe Supply Streaming Co Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or "the Company") is pleased to announce that it has closed the previously announced seven (7) per cent stake acquisition of Safety Strips Tech Corp. and has paid
This milestone is a testament to Safe Supply Streaming's core strategy of assembling a diversified portfolio within the Safe Supply ecosystem. Early investments like Safety Strips are carefully selected to focus on immediate revenue generation opportunities, positioning the Company for sustainable growth while awaiting further regulatory developments. Safe Supply's commitment to innovation and strategic market entry points underscores its vision to lead and expand within the evolving regulatory landscape, ensuring long-term value creation for its stakeholders.
Bill Panagiotakopoulos, CEO of Safe Supply Streaming, has been actively involved in discussions with various levels of government in Vancouver, advocating for the integration of Safety Strips in addiction centres, shelters, and other critical areas. These efforts highlight Safe Supply Streaming's leadership role in promoting harm reduction strategies across the community.
Photo 1: Safety Strips Harm Reduction Solution
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The urgency to address the fentanyl crisis is more critical than ever, particularly in a country with a population of 350 million like the US. The market for fentanyl test strips, essential in venues such as music festivals, concerts, addiction houses, and education centers, is vast and largely untapped. With too many lives lost to overdose, the need for widespread availability and use of fentanyl test strips is evident. Safety Strips is at the forefront of this battle, offering a reliable solution that meets the public's growing demand for safety measures against fentanyl poisoning. This initiative is not just a business opportunity; it's a public health imperative that Safety Strips and Safe Supply Streaming are committed to leading.
Geoff Benic, CEO of Safety Strips, emphasizes the company's mission, "We are resolutely focused on commercializing our business and building a CPG brand that earns consumer trust. Our goal is to 'own the shelf' in our industry, committing to aid governments and communities in their harm reduction efforts. Our rapid progress, from early packaging arrival to promising retailer discussions in the U.S., heralds a promising future for Safety Strips and its mission."
Corporate Update
The Safe Supply Board of Directors has approved the issuance of an additional 600,000 RSUs (Restricted Stock Units) to a consulting company, Machai Capital Inc., as compensation for its business development services. RSUs vest four months after the issuance and have a two-year expiry term.
The Company has also recaptured 1,250,000 stock options from a previous director of Safe Supply, Ronan Levy, who resigned on Jan 30, 2024. It was recaptured through a sale of the stock options to the Corporation for C
About Safety Strips
Safety Strips is a leading harm reduction company, specializing in proprietary medical testing technologies. With a focus on innovation and public health, Safety Strips is dedicated to becoming the consumer-packaged goods brand of choice for medical testing, offering products that save lives and enhance public health safety.
About Safe Supply
Safe Supply Streaming is a public company committed to improving public health outcomes through strategic investments in harm reduction and medical technology. With a focus on innovative solutions and partnerships, Safe Supply Streaming aims to address critical health crises and offer meaningful, life-saving interventions.
Learn more at www.safesupply.com and follow Safe Supply on LinkedIn, Twitter, and Instagram.
For Further Information:
Bill Panagiotakopoulos
Chief Executive Officer and Director
Safe Supply Streaming Co. Ltd.
www.safesupply.com
bill@safesupply.com
Media contacts:
McKenna Miller
KCSA Strategic Communications
safesupply@kcsa.com
Forward-Looking Information and Statements
Certain statements in this news release related to Safe Supply and Origin are forward-looking statements and are prospective in nature, including but not limited to the express or implied statements and assumptions regarding the intention of Origin and Safe Supply to complete the Transaction. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These forward-looking statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "will" or "continue", or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and Origin's and Safe Supply's plans and objectives to differ materially from those expressed in the forward-looking information, including but not limited to adverse market conditions and risks inherent in Origin's and Safe Supply's respective businesses. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this press release. Except as required by applicable law, Origin and Safe Supply do not intend to update these forward-looking statements. Without limiting the generality of the foregoing, there can be no assurance that the Transaction will be completed as proposed, or at all. Investors are cautioned that, except as disclosed in the management information circular and/or listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Origin should be considered highly speculative.
The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200236
FAQ
What stake did Safe Supply Streaming Co Ltd. acquire in Safety Strips Tech Corp.?
How much did Safe Supply pay for the stake acquisition?
What progress has Safety Strips made in commercialization efforts?
What is Safe Supply's strategy for investments?
What advocacy efforts has the CEO of Safe Supply been involved in?
How does Safety Strips aim to address the fentanyl crisis?
What corporate updates were announced?
