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VANCOUVER, British Columbia, July 08, 2020 (GLOBE NEWSWIRE) — Global Care Capital Inc. (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 High Standard Health Care Ltd. (“High Standard Health Care”) has, pursuant to entering into an Approved Vendor Contract on July 6th, 2020, become an Approved Vendor for Nevada based long term care facility, Alta Skilled Nursing and Rehab Centre (“Alta”) https://www.altanursingandrehab.com/.High Standard Health Care specializes in procuring personal protective equipment (“PPE”) including but not limited to respiratory masks, hand sanitizer, gowns, infrared thermometers and face shields and has been active in procurement during COVID-19 for hospitals, municipalities, long-term care facilities, fire departments and police departments.High Standard Health Care has existing relationships with China based manufacturers who supply PPE products. High Standard Health Care provides production orders to these manufacturers from time to time at which point the manufacturers will allocate production from their facilities to support these orders.Approved Vendor ContractUnder the terms of the contract, Alta will engage High Standard Health Care as an Approved Vendor for future procurement of PPE. Alta will contact High Standard Health Care to discuss PPE needs, specifications, quantities, delivery dates and pricing (“Purchase Order Details”). High Standard Health Care will provide Alta with a quote with the purchase order details. Alta will notify High Standard Health Care within two business days after receiving the quote whether to proceed with a purchase order. High Standard Health Care will then complete the order and deliver the PPE to Alta in accordance with the purchase order. Once Alta receives the PPE in good order, High Standard Health Care will invoice Alta for payment.Right of First OfferHigh Standard Health Care will have the right of first offer (“ROFO”) for agreed upon PPE purchased by Alta. Alta will notify High Standard Health Care of its PPE procurement needs and send purchase order details to High Standard Health Care who will have three business days to provide a quote.Alex Somjen, CEO of Global Care stated, “High Standard Health Care continues to demonstrate its ability to build on and create long lasting mutually beneficial relationships with hospitals, long term care facilities and cities in need of PPE. We are looking forward to seeing how the relationship with Alta progresses.”
About High Standard Health Care
High Standard Health Care is a leading global PPE provider assisting front line workers during the global pandemic. To date the company has procured respiratory masks, gowns, hand sanitizer, infrared thermometers, and face shields. High Standard Health Care customers, include hospitals, municipalities, long-term care facilities, fire departments and police departments.About Global CareGlobal 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.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.
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