Evitrade Health Systems Announces C.K. Cheung as CEO and Corporate Update
Vancouver, British Columbia (FSCwire) - EVITRADE Health Systems Corp.
(CSE: EVA, OTCQB: AXHLF) (the “Company” or “EVITRADE”) announces that Mr. C.K. Cheung is to become CEO of the company as
Mr. Au, has stepped down from that role to concentrate on developing the TULIP™ Medical System as CEO of the subsidiary company
(1109871 B.C. Ltd.) that holds the TULIP™ Intellectual Property (IP). “Mr. Cheung is currently an Executive Director for
the China Investment Trust and has extensive experience in large scale business development as well as international mergers and
acquisitions transactions. We look forward to a long and successful growth period under Mr. Cheung’s stewardship. In
addition, I would like to take this opportunity on behalf of all shareholders and as a co-director to express the appreciation
that we have for Mr. Au’s dedication as a founder, and his many years as of service in the role of CEO of the company. We
wish him the very best as he pursues the continued development of the core TULIP™ technology and digital healthcare system that
we have worked so hard on over the last 5 years.” said Ron Ozols, Director.
The company would also like to provide a corporate update:
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May 2018 Corporate Update
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- Evitrade has been in negotiations with its primary medical device manufacturer and commercial operator as the
company remains in a standstill on the General Service Agreement (GSA). The Parties seek to come to terms for a
course of action for settling any outstanding items in regards to the TULIP™ system, for any and all IP, work and debts
that exist between the companies. An update on this should be expected by month end.
- Evitrade’s previously announced LOI with Cantech Molecular Research Inc. has expired and the company has been
negotiating with the founder to set the terms for a new agreement under a non-exclusive basis, subject to
financing.
- The Company has acquired the assets of Artillery Holdings Ltd. (DBA Artillery Labs) an internet marketing company
and has issued 5 million shares.
- The Company has agreed to convert the principle portion only of a third party note of $100,000USD ($127,860CAD)
advanced to Artillery Labs at the Tuesday May 22nd, 2018 closing price of $0.35 per share for a maximum of
365,315 shares.
- Evitrade has also negotiated and/or re-negotiated various, loans and accounts payable, straight debt and
convertible debt totalingf $2,385,000 to be convertible debt at the Tuesday May 22nd, 2018 closing price of
$0.35 per share for a maximum of 6,814,286 shares.
- The Company had engaged Haywood Securities Inc. as a financial advisor and had issued 1 million shares under the
terms of the engagement.
- Any outstanding Plan of Arrangements that have been approved by Supreme Court of BC. is being actively worked on to
be completed and the Company expects to be able to provide further updates about the various stages of completion on
the subsidiary companies this month.
- Evitrade had acquired the intellectual property underlying the company’s interactive health care system (subject to
certain terms and conditions). – Mr. Au, continues as CEO of the subsidiary company holding the TULIP™ IP.
- The company continues to review opportunities in the medical monitoring, drug delivery systems, healthcare
diagnostics and therapeutics fields, and expects to be able to bring significant value propositions to potential
customers and shareholders. Management will provide further updates as they become available, and in the meantime
continues toward closing the outstanding issues as itemized.
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About EVITRADE Health Systems Corporation
EVITRADE Health Systems Corporation’s (formerly Auxellence Health Corp.), (CSE: EVA, OTCQB: AXHLF), mission is to
develop health technologies and online services for resolving common health issues. The current markets are weight-loss,
high blood pressure, high blood glucose and heart arrhythmia.
Contact: Mr. Ron Ozols or Mr. C.K. Cheung, Directors
EVITRADE Health Systems Corporation
(formerly Auxellence Health Corporation)
Twitter: @evitradehealth or https://twitter.com/evitradehealth
Email: info@auxellence.com
Website: http://www.auxellence.com
CSE Micro-site: http://thecse.com/en/listings/technology/evitrade-health-systems-corp
US OTC Markets: http://www.otcmarkets.com/stock/AXHLF/news
Disclaimers – Forward Looking Statements
This news release contains forward-looking statements based on assumptions and judgments of management
regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any
intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company
and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure
filings with Canadian securities regulators and on the OTC Markets website which is posted on www.sedar.com, http://thecse.com/en/listings/technology/evitrade-health-systems-corp,
and http://www.otcmarkets.com/stock/AXHLF/filings.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein
and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its
Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy
of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities described herein in the United States. The securities described herein have not been registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold
in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is
available.
To view the original release, please click here
Source: EVITRADE Health Systems Corp. (CSE:EVA, OTCQB:AXHLF)
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