22:06:25 EDT Sat 13 Jul 2024
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Jolt Health Inc
Symbol JOLT
Shares Issued 127,289,723
Close 2024-04-15 C$ 0.005
Market Cap C$ 636,449
Recent Sedar Documents

Jolt terminates transdermal delivery tech acquisition

2024-06-10 16:59 ET - News Release

Mr. Gerald Tritt reports

JOLT HEALTH INC. TERMINATES ACQUISITION AGREEMENT AND SHIFTS FOCUS TO AI OPPORTUNITIES

Jolt Health Inc. has terminated its previously announced agreement to acquire the intellectual property for transdermal delivery technology for chloroquine and hydroxychloroquine. The decision to discontinue this acquisition was made after careful consideration of the company's strategic direction and priorities.

Jolt Health remains committed to exploring and pursuing opportunities within the rapidly growing artificial intelligence (AI) sector. The company believes that leveraging AI technology will provide significant value and innovation in health care and biotechnology, aligning with Jolt's mission to transform the industry through cutting-edge solutions.

Gerald Tritt, chief executive officer of Jolt, stated: "We appreciate the efforts and insights of all parties involved in the initial agreement. Our focus is now on identifying and engaging in opportunities that harness the power of AI to enhance our health and wellness portfolio. Additionally, we are encouraged by the recent cuts in domestic and global interest rates, which we believe are the first signs in bolstering the economy and capital markets, supporting our growth initiatives and delivering value to our shareholders."

Jolt Health continues to hold exclusive licenses for innovative therapeutic and pharmaceutical products throughout Europe, the United Kingdom and North America. The company remains dedicated to advancing health care through research, collaboration and technological advancements.

We seek Safe Harbor.

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