NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTORONTO, Sept. 23, 2020 (GLOBE NEWSWIRE) — QuestCap Inc. (“QuestCap”) (CSE:QSC; FRA:34C1) is pleased to announce the signing of 15 lease agreements between its wholly owned subsidiary, Collection Sites, LLC and Orange County, CA based retailer H&S Energy, LLC to begin the roll out a network of ‘pop-up’ COVID-19 testing sites. Over the following months, the intention is to evaluate the remaining 85 eligible H&S locations and to sign additional leases and open collection sites at those H&S service stations across California. The collection sites are powered by Alcala Testing and Analysis Services, a CLIA licensed and registered laboratory based in San Diego, California.The pop-up labs will provide convenient testing to thousands of Americans across California. They will be installed at select H&S Energy convenience store and gas station locations. The first location is set to begin installation in October 2020 with daily testing capacity of 150 tests per day. Initial lease terms are for 6 months, and announcements for additional lease signings will be made as they are signed.“This is both an exciting development and a gratifying one,” says Mr. Sal Hassan, President and CEO of the Company. “As a service provider to everyday Americans seeking the essentials in life, we are delighted to provide access to COVID-19 testing services so our customers can make informed decisions.”“This agreement provides a vital opportunity for Californians,” says Mr. Tim Shelburn, President of Collection Sites, LLC. “Working with a well respected California-based company like H&S Energy allows us to provide a testing service that Californians need to restore their businesses and get back to life,” says Mr. Shelburn.The collection site pods are 100 square feet and provide three separate and physically distant testing windows to administer 150 tests per testing pod per day and can be placed anywhere with access to electricity. Testing services average USD$60 per test with a capacity for 15 tests per hour, operating 10 hours per day, seven days per week.For more information about the pop-up lab, the available sites and services, visit www.testbeforeyougo.com.About H&S Energy, LLC and its subsidiary, H&S Energy Products, LLCH&S Energy Products, LLC – leading the industry as one of the largest convenience store and retail gas station (“C&G”) operators on the West Coast, with over 100 C&G locations throughout Northern and Southern California.Headquartered in Orange, California, H&S Energy was founded in 1996 by Sal Hassan, who opened the company’s first location in March 1998 and has since grown the company to 112 C&G sites. H&S Energy is the 2nd largest Chevron C&G operator in California, but also operates gas stations under the Texaco and Shell brand. Its convenience stores are branded with the Extra Mile franchise and with a proprietary brand, Power Market. It is recognized as a leader in the industry for excellent customer service and clean and safe C&G locations.About QuestCap Inc.
QuestCap Inc. (CSE:QSC; FRA:34C1) is a social-impact investment company. Through QuestCap’s three divisions, MedQuest, TechQuest and ClimateQuest, it seeks, secures and funds recognized sciences, technologies, and solutions that impact our global community today.The QuestCap executive team is complemented by a panel of global advisors that provide expertise across industries and geographies. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopedic treatment, foot and ankle care, and sports medicine.QuestCap’s primary focus is the sale of COVID-19 IgG/IgM antibody tests authorized by FDA under an EUA for use by authorized laboratories. This is achieved largely through two acquisitions: 100% of Nevada-based Collection Sites, LLC (“Collection Sites”) and 28% of Colombian Sanaty IPS (“Sanaty”). Collection Sites is setting up a series of COVID-19 testing sites across the United States. The pop-up labs will be managed by Collection Sites and powered by Alcala Testing and Analysis Services, a CLIA-licensed laboratory based in San Diego, California. Appointments and payments will be handled through the online portal www.testbeforeyougo.com. Sanaty is setting up a series of full-service medical clinics offering a complete COVID-19 testing solution.QuestCap provides financing for a diverse range of entities in exchange for pre-determined royalties or distributions, or acquires all or part of one or more businesses, portfolios or other assets.For additional information, please contact:Doug Sommerville, CEO
+1-416-301-5418
[email protected]For investing inquiries, please contact:
Evan Veryard
[email protected]For US media enquiries, please contact:
Veronica Welch
[email protected]
+1-508-643-8000Cautionary Note Regarding Forward-looking InformationThis press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the set-up of collection site pods; the number of pods that we expect will be set-up; the number of COVID-19 tests that can be conducted per day at each modular pod; the anticipated revenues to be generated from testing done at each modular pod; the plan to rollout the modular pods in the United States; the timetable for any such rollout; the pursuit by QuestCap of investment opportunities; and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
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