VANCOUVER, July 13, 2020 /CNW/ - H-Source Holdings Ltd. (TSXV: HSI) (OTCQB: HSCHF) (the "Company" or "H-Source") is pleased to announce it has entered into a Letter of Intent ("LOI") with Relevium Technologies ("Relevium"), a corporation strategically focused on the acquisition and distribution of products and technologies with health and wellness in mind, to partner in the development, strategic sourcing and supply of global Personal Protective Equipment ("PPE") requirements due to COVID-19.
The HSource1 proprietary platform is focused on supplying the significant demand for PPE products by providing a central location for hospitals, governments, and businesses to procure highly needed medical surgical supplies, pharmaceuticals, capital equipment and wellness products. Relevium has established contracts with multiple vendors and products that are approved for global distribution, greatly increasing opportunities for supporting a healthier world.
H-Source and Relevium have been in discussion for several months about partnering to make the CleanCare line available through HSource1, as well as other PPE products. HSource1 is a fully secured and auditable platform that connects buyers and suppliers in a secured, compliant, and transparent manner. The platform is registered and approved in 35 states in the USA, as well as Canada and Europe. H-Source partners with EY (formerly Ernst & Young) to deploy the platform.
Strategic Partnership
H-Source and Relevium will be cooperating to list the Company's product offerings and incorporating its newly developed network of PPE products, vendors and buyers onto the H-Source1 platform. Relevium's new business, Bioganix CleanCare is now poised to expand to global markets utilizing the efficiencies of HSource1.
Both companies have expressed their intention, in the LOI, to exchange equity and share resources to solidify the partnership.
Aurelio Useche, CEO of Relevium Technologies stated: "We are extremely pleased to partner with John and his team to develop and master the global supply chain of personal protection products not only during this pandemic, but also to service the New Economic standard of supplying services to consumers. We look forward to a mutually rewarding and profitable cooperation"
John Kupice, CEO of H-Source stated "We are excited to partner with Aurelio and Relevium, adding Bioganix and their other innovative products to the HSource1 Global Virtual Purchasing Organization Platform. Jointly we will service current PPE needs as well as enable new efficient post COVID-19 supply chain processes and distribution models."
About H-Source Holdings Ltd.
H-Source Holdings Ltd. is a technology company operating within the healthcare industry through its wholly owned subsidiary, H-Source, Inc. The Company has developed a proprietary technology solution that provides a private, secure and Software As A Service ("SAAS") platform for members to buy, sell, track, and transfer medical supplies, pharmaceuticals, capital equipment and products. Integrated Artificial Intelligence ("AI") and Business Intelligence ("BI") enhance the data analytics for supply chain optimization. The platform is FDA and DSCSA compliant for pharmaceuticals including serialization, ownership and custody in extended modules. Complete Blockchain integration is offered, as an add-on, for additional security and traceability. The platform is designed to increase supply chain efficiency and reduce costs, moving products directly from OEMs on a B2B and / or B2C model. For more information, please visit https://h-source.com/.
About Relevium Technologies
Relevium is a publicly traded Company that operates in the health and wellness industry, including legal cannabis, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets and medical cannabis. The Company pursues its business strategy through an acquisition and partnership model in a holistic approach to encompass a wide range of health and wellness consumer products. Relevium operates through two wholly owned subsidiaries:
BGX E-Health LLC (BGX), based in Orlando, Florida, markets dietary supplements, nutraceuticals, sports nutrition, and cosmeceuticals primarily through its Bioganix® brand portfolio in the US and Europe.
Relevium's premium brands are sold at some of the world's largest retailers including Walmart.com and Amazon.com.
On behalf of the board of directors of H-Source Holdings Ltd.
John Kupice
CEO & Director
CAUTIONARY DISCLAIMER STATEMENT: The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements relating to the completion of the listing of the Company's shares on the TSXV and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the TSXV and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. 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 news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE H-Source Holdings Ltd.
