Victory Square Technologies Portfolio Company Receives Brazilian ANVISA Approval for Sale, Distribution & Use of Safetest 15 Minute Covid-19 Rapid Test for Brazil

Press Release

  • Victory Square Health received Brazilian ANVISA approval for Safetest 15 Minute Covid-19 Rapid Test for distribution,  sale, and usage in Brazil 
  • The Safetest 15 Minute Covid-19 Rapid Test has a 96.6% Sensitivity, and can confirm whether one is currently infected  with the Covid-19 virus or whether one was infected prior and unaware of the infection 
  • On November 17th, 2020, the Company announced a strategic partnership with Molkom Pharmaceuticals to sell and  distribute its Safetest Covid-19 Rapid and other Tests in Brazil and for export to Mercosur Countries
  • On December 14th, 2020, the Company announced a sales & distribution contract with a Brazilian Company for an initial  order of 3.7 Million Covid-19 Rapid Tests for Brazil 
  • Brazil, Argentina, Paraguay, Uruguay, and Venezuela Covid-19 numbers as of January 5, 2021 show a daily increase of over  72,530 infections with a total infection count at 10,009,984 and 246,408 deaths* *source Covid19alert 

VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) — Victory Square Health Inc. (“VS Health” or the “Company”) – a  portfolio company of Victory Square Technologies Inc. (“Victory Square”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) announced today that it  was granted approval on January 11, 2021 by The Brazilian Health Regulatory Agency (ANVISA) to commence marketing, sales and  distribution for its Safetest 15 Minute Covid-19™ Rapid Test assay for detecting the antibodies IgG and IgM against SARS-CoV-2. 

“Since announcing Victory Square Health’s prior ANVISA approval for our 3-hour Elisa Covid-19 lab test received on September 8, 2020  Brazil has seen an increase of 3,585,952 Covid-19 cases in the country and 69,058 deaths as of January 4, 2021*,” said Felipe Peixoto,  CEO of Victory Square Health. “Our Safetest Covid-19 Rapid Test is designed to effectively help identify and control the spread of the Novel  Coronavirus. This approval from Brazil now enables our Company to strategically produce and sell our cost-effective and highly accurate  Rapid Test products to the world’s third largest Covid-19 infection rate country.” *source Statista.com 

The Safetest Rapid Test enables the user to identify if they are infected with the Covid-19 virus and are infectious, have had the virus and  show antibodies, or have never been infected with the virus. The Safetest Covid-19 Rapid Test is easy to administer, provides accurate  results in 15 minutes and is light and compact for use, distribution, shipping, and acquisition. 

On November 17th, 2020, the Company announced a strategic partnership with Molkom Pharmaceuticals to sell and distribute its Safetest  Covid-19 Rapid and other Tests in Brazil and for export to Mercosur Countries (Argentina, Paraguay, Uruguay, and Venezuela). Molkom  Pharmaceuticals has more than 24 years of representation, sales, and marketing experience in Brazil and over 14 years in Latin America.  Molkom connects its clients to pharmaceutical, food, cosmetic, veterinary and feed industries in Latin America and the Caribbean for  exports, as well as companies that manufacture pharmaceutical ingredients and medicines from around the world for imports, production  contracts, licensing, acquisitions and mergers. The company boasts over 45,000 professional contacts worldwide, 5,500 plus direct  access to buyers and sales and development contracts totaling over $250,000,000 CAD. 

The Company also previously announced a sales and distribution contract with a Brazilian Medical company for an initial order of 3.7 million  Covid-19 Rapid Tests to be supplied from Victory Square Health subject to ANVISA approval. 

“With this ANVISA approval, our company is now able to fulfill the current backlog of orders for our Covid-19 Rapid Testing kits. We’re also  prepared and able to accommodate the incoming flux of new orders for our Rapid Test and for the ongoing demand in the upcoming year  moving forward,” said Felipe Peixoto, CEO of Victory Square Health. 

VS Health was founded in 2016 to accelerate the development of personalized medicine and technology solutions including diagnostic tests  to support patient’s care and improve health outcomes. Its first product, the Leishmaniasis Rapid Test, was developed in partnership with  the UFMG, Federal University of Minas Gerais. Safetest took advantage of its expertise in the subject to develop other antibody-based tests  and a robust R&D pipeline of diagnostic kits for Hansen’s Disease, Brucellosis, HTLV and Blood sample screening tests. 

Stock Options Grant 

The Company also announces that pursuant to the Company’s Stock Option Plan the board of directors approved the granting of an  aggregate of 2,765,000 incentive stock options to certain directors, officers, employees, and consultants of the Company at an exercise  price of $0.60 per share. The options are exercisable for a period of three years, ending January 11, 2024. 

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 time.

Check out VictorySquare.com and sign up to VST’s official newsletter at www.VictorySquare.com/newsletter.

On behalf of the board,

Shafin Diamond Tejani 
Chief Executive Officer and Director
Victory Square Technologies Inc.

For further information about the Company, please contact:

Investor Relations Contact – Edge Investments Ltd.
Email: ir@victorysquare.com
Telephone: 604 283 9166

Media Relations Contact – Howard Blank, Director  
Email: howard@victorysquare.com
Telephone: 604 928 6066 

ABOUT 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. The result: rapid scale-up and monetization, with a solid track record of public and private exits.

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 startups

VST 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 investors

VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF).

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. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.

Forward Looking Statement

This 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.

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.