Toronto, Ontario--(Newsfile Corp. - March 26, 2024) - Safe Supply Streaming Co Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or "the Company") today announces that its portfolio company, Safety Strips Technology Corp. ("Safety Strips"), has initiated a non-brokered private placement for a total proceeds of up to C$750,000.
This financing is a significant enhancement to Safe Supply's initial investment into Safety Strips and underscores the potential of Safe Supply's portfolio companies to execute and generate substantial value. Safety Strips is valued at $7,000,000, pre-financing.
Safety Strips, an up-and-coming name in the consumer-packaged goods (CPG) sector, is scheduled to receive samples of its innovative product offerings next week. These consumer-packaged strips are designed with the consumer's safety and convenience in mind. The market for fentanyl test strips, essential in venues such as music festivals, concerts, addiction houses, and education centres, is vast and largely untapped. Safety Strips is actively advancing discussions with major retailers and U.S. distributors, positioning the company on an accelerated path to generating immediate revenue.
"Our early investment into Safety Strips exemplifies Safe Supply's dedication to fostering value creation and accelerating the growth of our portfolio companies. This is a clear indicator of our strategic approach in action, highlighting not just the potential of our investments but our active role in nurturing them towards achieving market success and delivering tangible value to our stakeholders", said Bill Panagiotakopoulos, CEO of Safe Supply.
"In our discussions with leading retailers, the response has been overwhelmingly positive. The pitches and dialogues surrounding our products and market entry strategy indicate that we are well positioned to become a first-mover in this space. This enthusiasm from potential partners is a testament to the innovative approach and potential of Safety Strips, and we are excited about the rapid progress we are making towards securing a strong retail presence," added Geoff Benic, CEO of Safety Strips.
The proceeds from the financing will be used to accelerate production, marketing efforts, and further expansion into key markets, laying the groundwork for sustained growth and profitability.
Safe Supply remains dedicated to its strategic investment approach, focusing on companies like Safety Strips that exhibit strong potential for innovation, market disruption, and rapid growth. This investment philosophy is pivotal to Safe Supply's mission of delivering exceptional value to its shareholders and partners.
Photo 1: Safety Strips Harm Reduction Solution
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Corporate Update
The Safe Supply Board of Directors has approved the issuance of 1,300,000 options at $0.10 per share to a consulting company, Outside The Box Capital, as compensation for work performed for business development. The options vest in four months and have a two-year expiry term.
About Safety Strips
Safety Strips is a leading harm reduction company, specializing in proprietary medical testing technologies. With a focus on innovation and public health, Safety Strips is dedicated to becoming the consumer-packaged goods brand of choice for medical testing, offering products that save lives and enhance public health safety.
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
Chief Executive Officer and Director
Safe Supply Streaming Co. Ltd.
www.safesupply.com
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.
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