04:58:20 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Evitrade Health Systems Corp
Symbol EVA
Shares Issued 36,390,265
Close 2018-05-30 C$ 0.40
Market Cap C$ 14,556,106
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Evitrade signs revised LOI for Cantech acquisition

2018-05-30 09:09 ET - News Release

Mr. C.K. Cheung reports

EVITRADE HEALTH SYSTEM'S LATEST BIOTECH LOI POSITIONS IT TO BE A FORCE IN THE USD $30 BILLION PLANT-BASED PHARMACEUTICAL INDUSTRY

Evitrade Health Systems Corp. has signed a revised letter of intent with Cantech Molecular Research Inc.

The soon-to-be acquired Cantech and/or Cantech intellectual property specializes in systems for the manufacture of highly advanced plants grown through selective breeding (also known as cultivars) and the production of quality pharmaceutical products for use in agriculture and medicine.

With this transaction, the company is looking to add yet another valuable and versatile asset in its continuing bid to become an influential player in the rapidly growing plant-based pharmaceutical business. Recent industry reports indicate the global market is expected to grow from its current $29.7-billion (U.S.) in 2017 to nearly $40-billion (U.S.) in just five years. That represents a 6.1-per-cent compound annual growth rate.

"This latest deal should greatly strengthen our overall medical and biotech capabilities," continued C.K. Cheung of Evitrade. "It's another piece in the mosaic we are building. When complete, Evitrade will be able to offer a complete range of plant-based biotech, pharmaceutical and therapeutic solutions. We can ensure only the highest-quality ingredients are used in every made-to-order batch produced. This would be thanks to our ability to reproduce elite plants that maximize the perfection and potency of active plant ingredient yields. This acquisition will play a large role in that, giving us forward momentum."

Among the progressive capabilities Evitrade will gain are new methods of plant breeding and manipulation at the genetic level, genetic mapping, and proprietary tissue culture and haploid breeding systems will complement those Evitrade has already developed or acquired.

The modern world is rapidly recognizing the value of plant-based pharmaceuticals. Already, there are plant-based remedies that have challenged the supremacy of big pharmaceutical companies. However, plant-based pharmaceuticals are actually nothing new across most of the world. Humans have been using plants and herbs for medicinal purposes since the dawn of time. At least 28,000 different species of plants are currently used in the production of medicines. What is new is the application of advanced biotechnology techniques -- such as those that will be employed by Evitrade -- to improve ingredient quality and yields.

Plant-based pharmaceuticals hold two key advantages over those produced from chemicals. First, they often have fewer issues with safety and patient tolerance. As they are made from natural substances, they can have fewer side effects. The result is that the approval timeline is frequently shorter for plant-based pharmaceuticals, greatly cutting manufacturing costs and speeding the product to market.

Management continues to strive to seek optimal business and commercialization strategies for the company, and currently various opportunities are being pursued. The recent re-engagement of Haywood Securities as financial adviser was to assist in evaluating the numerous opportunities in front of the company -- planning for an exciting and bright future.

About Evitrade Health Systems Corp.

Evitrade (formerly Auxellence Health Corp.) was founded in 2013 to provide on-line digital health care services for resolving common health problems. The current markets are weight loss, high blood pressure, high blood glucose and heart arrhythmia.

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