ViraxClear Signs Letter of Intent and Secures Purchase Order for Infrared Thermometers to North Africa

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, May 22, 2020 (GLOBE NEWSWIRE) -- Global Care Capital Corp. (CSE: HLTH, FRANKFURT: L6V1) (the "Company" or "Global Care") a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that its portfolio company, ViraxClear, through its joint venture Shanghai Biotechnology Devices Ltd. ("SBD") has on May 20th, 2020, finalized a Letter Of Intent (LOI) with Phyto Pharma Ltd ("Phyto"), for the supply of 5,000 FDA Registered and CE marked infrared thermometer units ("Thermometers") for sale in North Africa, with a Purchase Order signed for the value of US$ 125,000 for the 5,000 units.

James Foster, CEO of ViraxClear, states that, "The sudden surge in numbers of novel coronavirus (COVID-19) cases has caused nations across the globe to take steps to stop the spread. Ever since the outbreak of the deadly disease, there has been a need to routinely check temperatures. The temperature in such cases is not checked using a mercury thermometer. To do this, offices, airports, malls and hotels are using forehead thermometers, also known as infrared thermometers. These thermometers check the temperature by sensing the infrared energy radiated by the body and are used to detect body temperature in case of fever, one of the symptoms of coronavirus."

"Securing FDA Registered and CE marked product from a reputable manufacturer represents a significant opportunity for ViraxClear and its distribution partners."

LOI for Thermometers

ViraxClear has signed an LOI and purchase order to distribute 5,000 infrared thermometers for sale to existing Morocco based distribution partner Phyto for the region of North Africa. An initial purchase order for 5,000 units has been signed, with a value of US$125,000, which will be fulfilled in the coming days. Phyto will be responsible for funding the shipping costs of the thermometers. This represents the first sale of a new product for ViraxClear, which primarily focuses on COVID-19 Antibody Test Kits. Accessing the North African market is an important first step in the roll out of infrared thermometers and other medical devices.

Supply Agreement between SBD and Venus

ViraxClear has secured supply of the infrared thermometers through Hong Kong based Venus Health Consulting Limited ("Venus") for the Guofengtai brand of thermometers. Guofengtai is manufactured by China based Jiangxi GuoFeng Medical Equipment Co. Ltd ("Jiangxi").

The thermometers do not require contact with a person and can swiftly measure temperature from 1cm-5cm from the forehead. These are particularly useful for use in public places like a hotel, airport, factory or office and with demand increasing as people begin to return to their normal lives and places of work. These are battery-operated, handy and easy to use thermometers, which do not require any trained technicians. Whilst they are by no means definitively accurate in the detection of COVID-19, they are widely being used across the world to detect potential symptomatic COVID-19 carriers.

The infrared thermometers are also an important component of the ViraxClear Employee Protection Equipment (EPE) Kits that it planning to launch next month: A scientifically curated kit of key protective equipment, which will be crucial in creating conditions for an acceptable level of safety in the workplace.

About ViraxClear

ViraxClear focuses on commercializing novel products that address significant healthcare needs with a specific target on the novel coronavirus (COVID-19). The company's main focus is marketing its ViraxClear Rapid IgM-IgG Combined Antibody Test. The ViraxClear Rapid IgM-IgG Combined Antibody Test for COVID-19 is a lateral flow immunoassay used to qualitatively detect both early and late marker IgG/IgM antibodies.

About Global Care

Global Care Capital is a global investment company which specializes in providing early stage financing to private and public companies. The Company engages in new, early stage investment opportunities in previously underdeveloped assets and obtaining positions in early stage investment opportunities that adequately reflect the risk profile.

GLOBAL CARE CAPITAL CORP.: 

Company Contact: 

Alex Somjen, President & CEO

[email protected]

Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com