A company that provides turnkey coronavirus screening solutions to the private sector is boosting its COVID-19 testing business.
ScreenPro Security Inc. (CSE: SCRN, Forum) announced this week that it had received four COVID-19 testing contracts from well-known film production companies in Vancouver and Toronto.
Though the Covid environment is changing, testing is strong with a 50% increase in added productions compared to February and over 20% in weekly growth this month. The Company is now providing testing for a total of eleven (11) film production companies.
ScreenPro CEO Lena Kozovski said
in a media release on this news that the company is riding continued momentum with COVID-19 testing within the film and production industry.
“With the additional film productions being added, we continue to build our brand and reputation within the industry.”
This is in addition to seven new COVID-19 testing contracts from film production companies in Vancouver and Toronto in late
February 2022.
ScreenPro Security also made news recently when it completed the acquisition of all the issued and outstanding shares of
Add Biomedical Inc., a screening company with a focus on breast cancer detection and veterinary diagnostics. It is working on commercializing its products in North America, which would be aided by ScreenPro’s relationships in distribution and logistics.
Under an amended Share Purchase Agreement with Add Biomedical, ScreenPro will pay $3.3 million (CAD) in units.
ScreenPro issued 33,000,000 units. Each unit is comprised of one common share priced at $0.15 and one common share purchase warrant exercisable at $0.20 for two years from closing.
Now that the acquisition of Add Biomedical is finalized, CEO Kozovski called this expansion a strategic acquisition that advances the company further into the health screening industry.
“We are excited for this new addition of the company and look forward to sharing our future plans.”
Add Biomedical has become a wholly owned operating subsidiary of ScreenPro. Michael Yeung has been appointed as the new director of Add Biomedical, Lena Kozovski as Chief Executive Officer and Paul Haber as Chief Financial Officer.
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