Victory Square Technologies Enters Into White Label Manufacturing, Sales & Distribution Agreements For Covid-19 Rapid Antibody and Antigen Tests for Europe & the United States
Covid-19 Rapid Antibody Tests have FDA Permission under EUA for sale & distribution in the United States and CE Designation for sale & distribution throughout the European Union
Covid-19 Rapid Antigen Tests come with the CE Designation for sale & distribution throughout the European UnionThese agreements will increase production capacity, shorten delivery times, and be available at a reduced costThe Company will be able to offer White Label Covid-19 Rapid Testing Kits and the new packaging options will allow for Covid-19 Rapid Tests to be sold in packages of 10, 25 and 50 unitsThis agreement will immediately alleviate any supply chain problems from the Company’s current Rapid Testing products made in Brazil
VANCOUVER, British Columbia, Dec. 07, 2020 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or the “Company“) (CSE:VST) (OTC:VSQTF) (FWB:6F6) — has entered into two Manufacturing, Sales and Distribution Agreements to supply White Label Covid-19 Rapid Antibody and Antigen Tests to be distributed through the company’s global distribution network, as well as sold online through the company’s ecommerce channels.
The agreements will also supply Victory Square with access to manufacture, sell and distribute other White Label diagnostic tests that will be available on the Company’s telehealth platform to be launched shortly.The Covid-19 Rapid Antibody Tests have FDA Permission under EUA for sale & distribution in the United States and the CE Designation for sale & distribution throughout the European Union. The Covid-19 Rapid Antigen Tests come with the CE Designation for sale & distribution throughout the European Union.These agreements will alleviate the supply and packaging challenges the company is currently facing due to the high demand for the company’s Safetest Rapid Tests in the country of origin – Brazil.Highlights of these agreements include:Increased production capacityQuicker manufacturing & delivery turn-around timesLower prices for industrial and retail salesThe new packaging will allow for Covid-19 Rapid Tests to be packaged in 10, 25 and 50 units
“These new supply channels will allow us to increase capacity, improve turn-around times, and lower costs by approximately 30%” said Shafin Diamond Tejani, CEO. Tejani goes on to say, “Victory Square has built up a global sales network over the past couple of months. These new manufacturing agreements will eliminate the supply bottleneck and enable the company and its agents to continue selling the Covid-19 Rapid Tests.”The Covid-19 Rapid Tests being supplied to fulfill current orders have FDA EUA permission and the CE Designation from EU authorities for sale. There will not be any disruption to the company’s current demand for tests. The Company has also created its own Private Label brand of tests. Victory Square Health is voluntarily updating and resubmitting the new packaging and design specifications of their Rapid Test to the FDA.“ProNorth Medical is very pleased with this new label from Victory Square. Our clients have been requesting quicker turnaround times, different quantity options and access to both antibody and antigen rapid tests. Now we will be able to offer options to them. We couldn’t be happier,” said Robert Horne, ProNorth Medical CEO.Disclaimer:The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this timeCheck out VictorySquare.com and sign up to VST’s official newsletter at www.VictorySquare.com/newsletterOn behalf of the board,Shafin Diamond TejaniChief Executive OfficerVictory Square TechnologiesFor further information about the Company, please contact:Investor Relations Contact – Alex TziliosEmail: firstname.lastname@example.orgTelephone: 778-867-0482Media Relations Contact – Howard Blank, DirectorEmail: email@example.comTelephone: 604-928-6066ABOUT VICTORY SQUARE TECHNOLOGIES INC.Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.What we do differently for startupsVST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you’ll scale and be ready to monetize.What we do differently for investorsVST is a publicly traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).For investors, we offer early-stage access to the next unicorns before they’re unicorns.Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.Forward Looking StatementThis news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Victory Square Health Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.