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Global Care Capital Inc. Announces Non-Binding LOI to Acquire 70% Interest in High Standard Health Care Generating $4 Million in Orders to Date

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VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) -- Global Care Capital Inc. (CSE:HLTH, FRANKFURT: L6V1) (the a??Companya?? or a??Global Carea??) a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that on May 22nd, 2020, the Company signed a non-binding letter of intent (the a??LOIa??) to acquire 70% of the issued and outstanding common shares of High Standard Health Care Ltd. (a??High Standard Health Carea??), a portfolio company founded by Dan Kriznic at High Standard Capital Corp., in exchange for securities of Global Care (the a??Transactiona??).High Standard Health Care specializes in procuring personal protective equipment (a??PPEa??) 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. Recently High Standard Health Care was engaged to procure 2 million respiratory masks for a hospital in upstate New York due to the significant shortage and difficulty of securing PPE during the pandemic. This order was delivered late April 2020 and re-orders continue. High Standard Health Care works with trusted supply partners globally that provide favorable terms and real time shipments during a time where PPE is scarce and difficult to procure. During the first two months of operations High Standard Health Care generated approximately $4 million in purchase orders with a gross margin of approximately 40%.In April 2020, High Standard Health Care received its Medical Device Establishment License from the Minister of Health of Canada allowing it to import Class 1 PPE into Canada.From the period starting March 1st, 2020, when High Standard Health Care commenced operations until April 30th, 2020, High Standard Health Care reports having generated approximately CDN$ 3.3 million in revenue and approximately CDN$ 1.0 million in net income from the distribution of PPE products, mainly in North America. The Company cautions revenue and net income numbers have not yet been audited and are based on reports generated by High Standard Health Care management.
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