Toronto, Ontario--(Newsfile Corp. - February 21, 2024) - Safe Supply Streaming Co. Ltd. (CSE: SPLY)(FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or "the Company") applauds the British Columbia Naturopathic Doctors (BCND) Association for its proactive stance on advancing prescription powers for naturopathic doctors in British Columbia. This initiative marks a crucial step towards integrating safer supply and medication-assisted treatments for substance-use disorders, highlighting the potential for naturopathic doctors to play a vital role in the response to this public health emergency.
Safe Supply is at the forefront of this movement, engaging in active discussions with several clinics across British Columbia and Ontario. The Company is strategically positioning itself as the preferred supplier in anticipation of the expansion of prescribing powers within the naturopathic community. Furthermore, Safe Supply is exploring opportunities for clinic roll-ups and acquisitions, aiming to enhance its ecosystem and bolster its commitment to addressing the toxic drug crisis effectively.
The B.C. Naturopathic Doctors Association has reported significant interest in the topic among its members, with over 250 naturopathic doctors enrolling in a provincial education and training program to prescribe medications commonly used for opioid use disorder, such as methadone. This initiative reflects the community's dedication to being part of a comprehensive solution to the crisis. To date, fifty members across thirty communities have commenced their training, underscoring the urgency and commitment of the naturopathic profession to contribute meaningfully to this public health challenge.
In response to this initiative, Vanessa Lindsay, BCND President, has reached out to the B.C. Minister of Mental Health and Addictions, advocating for the necessary changes to allow naturopathic doctors to prescribe medications for substance-use disorders. This proposal has been forwarded to Health Minister Adrian Dix, indicating a positive step towards legislative and regulatory support for this critical issue.
Recent studies, including a population-level evaluation published in the British Medical Journal, have demonstrated the efficacy of prescribing pharmaceutical alternatives to illicit drugs in reducing overdose deaths and related harms. Despite the clear benefits, access to these prescriptions remains limited, with a vast majority of individuals who use illicit drugs in B.C. unable to access prescribed alternatives.
Safe Supply is committed to being an integral part of the solution, working closely with healthcare providers, clinics, and regulatory bodies to expand access to safer supply options. As the discussion progresses, Safe Supply remains dedicated to supporting efforts that lead to tangible changes in policy and practice, ultimately contributing to the health and well-being of communities across British Columbia and Ontario.
Safety Strips Stake Acquisition
Safe Supply also provides more details about its recently announced acquisition of a 7% interest in Safety Strips Tech Corp. ("Safety Strips"), the pioneering harm reduction company (see Press Release dated February 8, 2024).
Safe Supply Streaming will acquire a seven percent (7%) equity interest in Safety Strips Tech Corp. for $50,000 cash and three million (3,000,000) common shares in Safe Supply for a total value of $300,000 (C$0.10 per share) to compensate for the minority interest acquisition of Safety Strips Tech Corp.
The CEO of Safe Supply, Bill Panagiotakopoulos, independently owns approximately 4,000,000 shares or 7.5% of Safety Strips Tech Corp.
Safe Supply's access to Safety Strip's founder round underscores the tangible value Safe Supply provides to companies emerging to tackle the opioid crisis. It showcases Safe Supply's proprietary model of incubating, accelerating & partnering with companies to earn significant equity stakes in companies with significant prospects which is reflective in Safe Supply being awarded the opportunity to invest in Safety Strips at $5 million valuation, a company that is led by a serial entrepreneur and former public co-CEO, with a distribution agreement with a USA and active discussions with retailers.
As the fentanyl crisis continues to widen, Safety Strips is well positioned to lead in the development of harm reduction technologies. This acquisition marks a significant step forward in addressing the escalating overdose crisis, positioning Safe Supply Streaming at the forefront of the emerging medical testing market.
About Safe Supply
Safe Supply Streaming is a public company committed to improving public health outcomes through strategic investments in harm reduction and medical technology. With a focus on innovative solutions and partnerships, Safe Supply Streaming aims to address critical health crises and offer meaningful, life-saving interventions.
Learn more at www.safesupply.com and follow Safe Supply on LinkedIn, Twitter, and Instagram.
For Further Information:
Bill Panagiotakopoulos
CEO and Director
(305) 335-8214
Bill@safesupply.com
Media contacts:
McKenna Miller
KCSA Strategic Communications
safesupply@kcsa.com
Forward-Looking Information and Statements
Certain statements in this news release related to Safe Supply and Origin are forward-looking statements and are prospective in nature, including but not limited to the express or implied statements and assumptions regarding the intention of Origin and Safe Supply to complete the Transaction. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These forward-looking statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "will" or "continue", or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and Origin's and Safe Supply's plans and objectives to differ materially from those expressed in the forward-looking information, including but not limited to adverse market conditions and risks inherent in Origin's and Safe Supply's respective businesses. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this press release. Except as required by applicable law, Origin and Safe Supply do not intend to update these forward-looking statements. Without limiting the generality of the foregoing, there can be no assurance that the Transaction will be completed as proposed, or at all. Investors are cautioned that, except as disclosed in the management information circular and/or listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Origin should be considered highly speculative.
The CSE has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198734
