That’s great news on CXTLWhere's the update on Previcare ? In the current environment, Previcare is in advanced discussions on a number of additional supply agreements and Magnetic North will keep shareholders up to date on all developments as they transpire.Alberta and TORONTO, April 09, 2020 (GLOBE NEWSWIRE) — Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”) is pleased to announce that one of its investee companies, Previcare, Inc. (“Previcare”) has entered into an agreement (the “Agreement”) with a Homeland Security consulting firm to assist and provide guidance in connection with the sale of products related to the COVID-19 pandemic, to certain US Federal and State government agencies and organizations. As an initial action under the Agreement, Previcare is working on a purchase order to supply its proprietary disinfectant concentrate to Government agencies. The company has commenced the process for its initial weekly delivery of approximately US$2.0 million of product. It is expected that these weekly orders will last for a period of up to six months. Additional recurring purchase orders are under discussion.
Jeffrey Fredenburgh, President and CEO of Previcare stated, “This Agreement provides access to the US Federal and State markets and allows Previcare’s unique disinfectant and sanitizing products to assist in the global fight against COVID-19.”Kevin Spall, Co-CEO of Magnetic North said, “Magnetic North is extremely pleased with the progress that Previcare has made, and we will continue to work with the Company during this growth. The company has secured noteworthy sales traction and we continue to pursue additional international opportunities to scale up during and post the global COVID-19 pandemic.”In the current environment, and separate from this Agreement, Previcare is in advanced discussions on a number of additional supply agreements, and Magnetic North will keep shareholders up to date on all developments as they transpire.About PrevicarePrevicare is a privately-held healthcare company focused on the research, development, sales, and marketing of industry leading hand sanitizer and hard surface disinfectant products. With offices in Toronto (Ontario) and Buffalo (New York), Previcare serves retail consumers, wholesalers, institutional clients, and government agencies throughout North America.Previcare markets its healthcare and consumer-focused EPA and FDA registered hand sanitizer and hard surface disinfectants under the AllDay®, GR-AD Pro® and CAx™