FluroTech Ltd., is pleased to announce that is has engaged Venture Liquidity Providers Inc. (“VLP”), subject to regulatory approval, to provide market-making services for the purpose of maintaining an orderly trading market and improving the liquidity of the Company’s shares.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month for a period of three months, continuing on a month-to-month basis thereafter.
The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.
Warrants Exercised To Date
FluroTech is also pleased to announce that in the past week, investors have proactively, and under no obligation, exercised a total of 354,244 warrants at a price of $0.50 per share to add $177,122 to the Company’s treasury. These funds will be used to support investment into FluroTest Systems Ltd. (“FluroTest”) and the commercialization of its rapid antigen testing and pandemic defense system, purpose-built for high traffic environments and engineered to deliver thousands of tests per hour.
“The voluntary exercise of these warrants strengthens our treasury and will help us move quickly towards clinical trials,” said Danny Dalla-Longa, CEO at FluroTech. “Unanswered questions about vaccine supply availability and some speculation that Covid-19 will be present for years is not good news for any of us. We’re mindful that people and businesses are hurting, and our planned FDA submission will reflect areas where we believe FluroTest can help.”
Readers are cautioned that, although FluroTest has achieved proof of concept prototype, the testing method and device is still in the early stages of research and development and accordingly FluroTest is not currently making any express or implied claims that the technology can, or will be able to, accurately detect the COVID-19 virus. The Company is in the process of preparing its Platform for submission to the FDA for EUA approval.
About FluroTech
FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples for specific applications. Using technology that was first developed at the University of Calgary, FluroTech has created a two-part solution comprising its CompleTest™ platform technology and consumable testing kits. Its accuracy has been independently validated. FluroTech continues to develop additional applications for the CompleTest™ platform technology. To learn more, visit FluroTech.com.
About Venture Liquidity Providers Inc.
VLP is a Specialized Consulting Firm based in Toronto providing a variety of services focused on Exchange listed stocks. VLP’s exclusive Market Making Service is provided by W.D. Latimer Co. Limited, Canada’s premier Market Making Firm.
About FluroTest LLC
FluroTest, a first-mover in surge-scale rapid antigen testing for the detection of SARS-CoV2 and other pathogens, is developing a pandemic defense and economic recovery system purpose-built for businesses and special-needs populations requiring fast and highly efficient testing for significant numbers of people. Unlike individual or low-throughput tests, FluroTest’s system is designed to be well-suited for high-traffic, high-risk pandemic environments including schools and colleges, hospitals and large healthcare facilities, athletic stadiums and performance venues, airline and cruise ship terminals, corporate campuses, shopping centers, manufacturing facilities, transportation and distribution hubs, and other large business and retail locations. Created to support executive business continuity efforts, the system combines and leverages the disciplines of robotics automation, biochemistry, fluorescence detection and cloud computing — processing thousands of tests per hour while delivering accurate, digitally verifiable results to a test taker’s mobile device within 5 minutes. To learn more, visit FluroTest.com.
Contact Information
FluroTech Ltd.
Danny Dalla-Longa
Chief Executive Officer
403.680.0644
Danny@FluroTech.com
www.FluroTech.com
For all investor inquiries:
MarketSmart Communications Inc.
1-877-261-4466
Info@marketsmart.ca