Safe Supply Streaming Co. Ltd. Announces Non-Binding LOI to Acquire Safety Strips Tech Corp. in an All-Share Transaction and Advances Funding to Safety Strips
Safe Supply Streaming Co. (SSPLF) has announced two strategic developments with Safety Strips Tech Corp: a non-binding LOI to acquire the remaining interest for 100% ownership through an all-share transaction, and the issuance of a $50,000 promissory note at 5% interest for working capital. Safety Strips is a medical testing company specializing in harm reduction products, including test strips for detecting illicit substances. The acquisition complements Safe Supply's recent Drug Lab acquisition and provides near-term revenue opportunities through existing distribution agreements. Safe Supply currently holds 3,500,000 shares of Safety Strips, with the final consideration to be determined after due diligence.
Safe Supply Streaming Co. (SSPLF) ha annunciato due sviluppi strategici con Safety Strips Tech Corp: un'intesa non vincolante (LOI) per acquisire l'interesse rimanente per un possesso del 100% attraverso una transazione totalmente azionaria e l'emissione di una cambiale di $50,000 al 5% di interesse per il capitale operativo. Safety Strips è un'azienda di test medici specializzata in prodotti per la riduzione del danno, compresi i test per la rilevazione di sostanze illecite. L'acquisizione integra la recente acquisizione del laboratorio di droga da parte di Safe Supply e offre opportunità di entrate a breve termine attraverso contratti di distribuzione esistenti. Safe Supply attualmente possiede 3,500,000 azioni di Safety Strips, con il costo finale che sarà determinato dopo la due diligence.
Safe Supply Streaming Co. (SSPLF) ha anunciado dos desarrollos estratégicos con Safety Strips Tech Corp: una carta de intención no vinculante para adquirir el interés restante para una propiedad del 100% a través de una transacción de acciones y la emisión de un pagaré de $50,000 al 5% de interés para capital de trabajo. Safety Strips es una empresa de pruebas médicas especializada en productos de reducción de daños, incluidos tiras de prueba para detectar sustancias ilícitas. La adquisición complementa la reciente adquisición de un laboratorio de drogas por parte de Safe Supply y proporciona oportunidades de ingresos a corto plazo a través de acuerdos de distribución existentes. Actualmente, Safe Supply posee 3,500,000 acciones de Safety Strips, con la contraprestación final que se determinará después de la debida diligencia.
Safe Supply Streaming Co. (SSPLF)는 Safety Strips Tech Corp와 두 가지 전략적 개발을 발표했습니다: 100% 소유를 위한 나머지 지분 인수에 대한 비구속 LOI 및 운영 자본을 위한 5% 이자의 $50,000 어음 발행. Safety Strips는 불법 물질을 감지하기 위한 테스트 스트립을 포함하여 피해 감소 제품을 전문으로 하는 의료 테스트 회사입니다. 이 인수는 Safe Supply의 최근 마약 실험실 인수를 보완하며, 기존 유통 계약을 통해 단기 수익 기회를 제공합니다. Safe Supply는 현재 Safety Strips의 3,500,000주를 보유하고 있으며, 최종 대가는 실사를 마친 후 결정됩니다.
Safe Supply Streaming Co. (SSPLF) a annoncé deux développements stratégiques avec Safety Strips Tech Corp : une lettre d'intention non contraignante pour acquérir l'intérêt restant pour une propriété de 100% par le biais d'une transaction entièrement en actions, ainsi que l'émission d'un billet à ordre de 50 000 $ à 5 % d'intérêt pour le fonds de roulement. Safety Strips est une entreprise de tests médicaux spécialisée dans les produits de réduction des risques, y compris des bandelettes de test pour détecter des substances illicites. L'acquisition complète la récente acquisition d'un laboratoire de drogue par Safe Supply et offre des opportunités de revenus à court terme grâce aux accords de distribution existants. Safe Supply détient actuellement 3 500 000 actions de Safety Strips, la contrepartie finale devant être déterminée après la due diligence.
Safe Supply Streaming Co. (SSPLF) hat zwei strategische Entwicklungen mit Safety Strips Tech Corp angekündigt: eine nicht verbindliche Absichtserklärung (LOI) zur Übernahme des verbleibenden Anteils für 100% Eigentum durch eine Aktienübertragung sowie die Ausstellung einer $50.000-Notiz mit 5% Zinsen für das Betriebskapital. Safety Strips ist ein medizinisches Testunternehmen, das auf Produkte zur Schadensminderung spezialisiert ist, einschließlich Teststreifen zur Erkennung von illegalen Substanzen. Die Übernahme ergänzt die kürzliche Übernahme eines Drogenlabors durch Safe Supply und bietet kurzfristige Umsatzmöglichkeiten durch bestehende Vertriebsvereinbarungen. Safe Supply hält derzeit 3.500.000 Aktien von Safety Strips, und die endgültige Vergütung wird nach der Due Diligence festgelegt.
- Immediate revenue contribution through Safety Strips' existing distribution agreements
- Strategic synergies with recent Drug Lab acquisition enhancing market position
- Portfolio expansion into growing harm reduction and wellness markets
- Current ownership of 3,500,000 Safety Strips shares provides foundation for full acquisition
- All-share transaction structure may lead to shareholder dilution
- $50,000 promissory note adds to company debt
- LOI is non-binding and subject to due diligence and regulatory approval
- Final acquisition cost yet to be determined
Toronto, Ontario--(Newsfile Corp. - October 24, 2024) - Safe Supply Streaming Co. Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or the "Company") is pleased to announce two strategic developments involving Safety Strips Tech Corp. ("Safety Strips").
The Company has entered into a non-binding letter of intent ("LOI") to acquire the remaining interest in Safety Strips to complete the
This proposed acquisition of Safety Strips is a key milestone for Safe Supply as it continues to execute on its strategic M&A plan. With a strong portfolio of innovative products, the Company remains committed to delivering value to its shareholders. This transaction is accretive to the previously announced Drug Lab 118 Ltd. ("Drug Lab") acquisition and will enhance distribution of Drug Lab's proprietary portfolio of test strips into retail, e-commerce and hospitality / sporting channels.
Safety Strips is a medical testing and technology solutions company with a portfolio of health and wellness tests as well as harm reduction tests including drink spike, fentanyl and xylazine.
Key Highlights of the Transaction:
- Proprietary Portfolio of Test Strips:
Safety Strips offers a comprehensive portfolio of harm reduction products, including test strips for detecting illicit substances in drugs, alcohol, and more. These products are aligned with growing regulatory and consumer demand for safety solutions in both medical and wellness markets.
- Near-Term Revenue Opportunities:
With commercialization already underway, Safety Strips is currently generating revenue through its distribution agreements and product pipeline. The acquisition allows Safe Supply to integrate these revenue streams with its existing business model.
- Synergies with Drug Lab Acquisition:
The acquisition of Safety Strips complements Safe Supply's recent proposed purchase of Drug Lab, providing the Company with expanded capabilities in harm reduction and wellness. The two companies' products create an integrated portfolio that enhances Safe Supply's market position.
Geoff Benic, CEO of Safety Strips, commented: "We are excited about this proposed transaction and to work with the Supply team to execute on the growth and M&A strategy, This also allows Safety Strips to accelerate growth and capitalize on new market opportunities. With our harm reduction products and the technology creates a formidable pipeline of revenue generating opportunities."
Non-Binding LOI to complete the
Safe Supply currently holds 3,500,000 shares of Safety Strips and intends to acquire the remaining shares to complete the
Issuance of Promissory Note
In addition to the LOI, Safe Supply has issued a Promissory Note to Safety Strips in the principal amount of
Bill Panagiotakopoulos, CEO of Safe Supply, added: "The acquisition of Safety Strips is a natural progression in our strategy. The exceptional work that Geoff and his team have done since our initial investment has elevated the company to the next level, we believe that bringing Safety Strips fully into our portfolio will allow us to leverage its commercial success and unlock additional value through synergies with Drug Lab.
About Safety Strips Tech Corp.
Safety Strips is a privately held company specializing in the development and commercialization of harm reduction products, including test strips for detecting illicit substances in drugs and alcohol. With a mission to reduce harm and enhance safety in communities, Safety Strips has developed a range of products aimed at preventing drug-related fatalities and supporting wellness.
About Safe Supply Streaming Co. Ltd.
Safe Supply Streaming Co. Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) is a publicly traded company that focuses on the acquisition, investment, and development of businesses within the medical, wellness, and technology sectors. The Company aims to drive sustainable growth and shareholder value by leveraging innovative, technology-driven solutions that address critical needs in healthcare and wellness.
For further information, please contact:
Safe Supply Streaming Co. Ltd.
Email: info@safesupply.com
Bill Panagiotakopoulos
Chief Executive Officer and Director
Email: bill@safesupply.com
Website: www.safesupply.com
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's performance, business objectives and milestones and the anticipated timing thereof, and costs in connection with; the execution or achievement of such objectives and milestones; statements with respect to the growing market for narcotic testing and harm reduction solutions; statements with respect to the market for narcotic testing and harm reduction solutions experiencing rapid growth on a global scale; statements with respect to the ability for the Company to be a leader in the medical testing space due to the proposed acquisition of Safety Strips; the Company's ability to complete the acquisition of Safety Strips on the proposed terms, or at all; the ability of the Company to receive all required approvals for the completion of the Safety Strips acquisition; the integration of the Safety Strips products into the Company's portfolio; the ability of Safety Strips to repay the Promissory Note; and statements with respect to the expansion of the Company's market presence due to continued growth, strategic acquisitions, and innovative partnerships.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to maintain or exceed its current performance, and carry out its business objectives and milestones and under the anticipated timing and costs in connection with; the execution or achievement of such objectives and milestones; the Company's ability to capitalize on the potential benefits resulting from the potential distribution expansion in the North American market; the Company and Safety Strips' respective abilities to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for it to carry out its plans as described; statements with respect to the growing market for narcotic testing and harm reduction solutions; statements with respect to the market for narcotic testing and harm reduction solutions experiencing rapid growth on a global scale; the ability for the Company to be a leader in the medical testing space; statements with respect to Safety Strips' ability to generate revenue from the sale of its products; the ability of the Company and Safety Strips to successful integrate their businesses; and that there will be continued growth, strategic acquisitions, and innovative partnerships that would expand the Company's market presence.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to maintain or exceed its current performance, and carry out its business objectives and milestones and under the anticipated timing and costs in connection with, the execution or achievement of such objectives and milestones; the Company's inability to capitalize on the potential benefits resulting from the potential distribution expansion in the North American market; either the Company's or Strips' inability to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for the Company or Strips to carry out its plans as described; the Company's inability to significantly enhance its portfolio after any strategic acquisitions it may complete, including the proposed acquisition of Safety Strips; statements with respect to the growing market for narcotic testing and harm reduction solutions; statements with respect to the market for narcotic testing and harm reduction solutions experiencing rapid growth on a global scale; the inability of the Company and Safety Strips to successful integrate their businesses; the ability for the Company to be a leader in the medical testing space due to the proposed acquisition of Safety Strips; and that there will be continued growth, strategic acquisitions, and innovative partnerships that would expand the Company's market presence.
Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227681
FAQ
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