TORONTO, Dec. 29, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. ("QuestCap" or the "Company") (NEO:QSC; OTC:COPRF; FRA:34C1) is pleased to announce that the Company has changed its name to "Medivolve Inc." ("Medivolve") in conjunction with its transition to a single purpose medical company, previously announced on October 13, 2020. Subject to approval of the NEO Exchange ("NEO"), trading of the Company's shares under the new name and new ticker "MEDV" on the NEO is expected to commence on January 7, 2021.
This name change emphasizes QuestCap's new standing as a medical services and technology company. Moving forward, the QuestCap team will focus exclusively on developing and implementing innovative medical solutions across the globe, with a short-term focus on combatting the COVID-19 pandemic and helping restore reality responsibly.
The Company's shareholders approved the name change at the Company's annual and special meeting of shareholders held on December 3, 2020 (the "AGM"). In addition, at the AGM the Company's shareholders approved all of the other resolutions detailed in the management information circular dated November 2, 2020, including the change of the province in which the registered office of the Company is situated from the Province of Quebec to the Province of Ontario. The management information circular is available under the Company's profile at www.sedar.com.
"With the Company's continued growth in the medical services and technology sector, the name change to Medivolve and transition to a single purpose medical company was an important choice to clarify our strategy for the market," said Mr. Doug Sommerville, CEO of QuestCap. "Short-term, we are focused on combatting the COVID-19 pandemic through our wholly-owned subsidiary, Collection Sites LLC, ("Collection Sites") and through other initiatives, while longer-term we intend to leverage our team's expertise to bring to market other disruptive medical solutions."
QuestCap has assembled a management team and advisory group of renowned medical experts. This team includes Dr. Lawrence Steinman, Professor of Neurology, Neurological Sciences and Paediatrics at Stanford University and former head of Immunology at Stanford. Dr. Glenn Copeland is also one of North America's most prominent foot and ankle specialists and the founder, chairman, and CEO of Cleveland Clinic Canada. Cleveland Clinic is universally regarded as one of the top three medical institutions in the world.
Their expertise guides the Company's strategy for combatting the COVID-19 pandemic, including assessing the merit of novel technologies and clinical studies, as well as developing protocols and standards to help restore businesses. Further, this team is currently supporting the development of the Company's long-term strategy in the medical space outside of pandemic-related initiatives.
About QuestCap Inc.
QuestCap Inc. (NEO:QSC; OTC:COPRF; FRA:34C1) seeks out disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and generate remarkable risk-adjusted returns for investors. Specifically, QuestCap offers investors a diversified investment in the COVID-19 medical space across three areas: prevention, detection, and treatment.
QuestCap has a team of renowned global medical and business advisors that have developed a proprietary business strategy to capitalize on high-margin opportunities in the COVID-19 space. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopaedic treatment, foot and ankle care, and sports medicine.
QuestCap's primary focus is the sale of COVID-19 IgG/IgM antibody tests authorized in the United States by the U.S. Food and Drug Administration under an Emergency Use Authorization for use by authorized laboratories. This is achieved largely through two acquisitions: 100% of Collection Sites and an indirect 28% interest in Sanaty IPS S.A.S. ("Sanaty"), a Colombian company. Collection Sites is setting up a series of COVID-19 testing sites across the United States with appointments and payments 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.
For additional information, please contact:
Doug Sommerville, CEO
For investing inquiries, please contact:
For US media enquiries, please contact:
Cautionary Note Regarding Forward-looking Information
This 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 change of the Company's name, the timing of the commencement of trading of the Company's shares under the new name and ticker symbol, and the Company's business and strategy, including its transition to a single purpose medical company and its objectives to development and implement innovative medical solutions and combat the COVID-19 pandemic. 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 NEO NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
These press releases may also interest you