Portfolio includes Safety Strips Tech Corp.'s innovative, low-cost test strips offer an affordable and reliable way for individuals to detect dangerous substances like fentanyl and xylazine, addressing the escalating opioid crisis.
Safe Supply Streaming Co. Ltd. to leverage strategic partnerships and robust distribution networks to maximize the impact and reach of these high-demand, high-margin products.
Plans underway to explore opportunities within educational institutions and government programs, expanding the scope and impact of Safety Strips Tech Corp.
Toronto, Ontario--(Newsfile Corp. - November 11, 2024) - Safe Supply Streaming Co. Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or the "Company") is pleased to provide an update on its portfolio company Safety Strips Tech Corp. ("Safety Strips"), which specializes in medical testing technologies and harm reduction solutions. Safety Strips has entered into a definitive agreement with Greenlane Holdings Inc. ("Greenlane") (NASDAQ: GNLN). Under the terms of this multi-year distribution agreement, Greenlane will be the exclusive U.S. distributor of Safety Strips' proprietary test strips for detecting fentanyl, xylazine and other substances used for drinking spiking.
Safety Strips' Innovative Testing Solutions
"Expanding our product distribution footprint is a key step in advancing our strategic goals, especially as the opioid crisis continues to pose a significant public health challenge," stated Geoff Benic, CEO of Safety Strips Tech Corp. "We see a clear, growing demand for dependable and economical substance testing methods that help prevent accidental overdoses and safeguard against drug-related crimes such as drug-induced assaults."
The Safety Strips' test portfolio comprises low-cost strips designed to detect the presence of fentanyl and xylazine (known as "tranq"). The Fentanyl Test Strip (FTS) is an ISO 13485 validated product and serves as an effective lateral flow immunoassay capable of detecting trace amounts of synthetic opioids, including multiple fentanyl analogs.
To conduct a test, users mix a small sample with water and immerse the test strip for 15 seconds. Results are read within approximately five minutes: one line indicates the presence of fentanyl, while two lines signify a negative result. This straightforward process helps detect ultra-low amounts of harmful substances in powders, pills, or injectables, effectively supporting harm reduction efforts.
Expanding Market Reach and Strategic Benefits
Management believes that the addition of these high-margin test strips strengthens Safe Supply's product offerings, enhances revenue potential and expands Safe Supply's capabilities in the harm reduction sector. The Company plans to leverage its partnerships, distribution channels, and strategic operations teams to promote and support the adoption of Safety Strips' products across various markets.
"Given the consistent demand for reliable, high-quality harm reduction tools, we are thrilled to announce this advancement," said Bill Panagiotakopoulos, a CEO and Director of Safe Supply. "Safety Strips Tech Corp.'s technology is unmatched in its quality and cost-efficiency, making their partnership with Greenlane a cornerstone of its product expansion strategy."
Availability and Market Rollout
Safety Strips' products are available for purchase through various distribution channels. Safe Supply intends to leverage this partnership to explore potential collaborations with universities and government programs, aiming to make these important testing tools accessible to the communities that need them most.
About Safe Supply Streaming Co. Ltd.
Safe Supply Streaming Corp. is a forward-thinking company focused on harm reduction, wellness technology, and innovative solutions that respond to critical public health needs. The Company's goal is to expand the accessibility and awareness of products that protect individuals and reduce risks associated with substance use and contamination.
For more information, please visit: https://safesupply.com/
For further information, regarding Safe Supply or the contents of this press release, please contact Bill Panagiotakopoulos, Chief Executive Officer and Director of Safe Supply, at bill@safesupply.com.
On behalf of the Board of Directors of Safe Supply Streaming Co. Ltd.
Bill Panagiotakopoulos
Chief Executive Officer and Director
Email: info@safesupply.com
Telephone: (416) 566-3872
Website: www.safesupply.com
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's performance, business objectives and milestones and the anticipated timing thereof, and costs in connection with; the execution or achievement of such objectives and milestones; statements with respect to the growing market for narcotic testing and harm reduction solutions; statements with respect to the market for narcotic testing and harm reduction solutions experiencing rapid growth on a global scale; statements with respect to the success of the multi-year distribution agreement between Safety Strips and Greenlane; the success of Safety Strips' products; the Company's ability to complete the acquisition of Safety Strips; the integration of the Safety Strips products into the Company's portfolio; and statements with respect to the expansion of the Company's market presence due to continued growth, strategic acquisitions, and innovative partnerships.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to maintain or exceed its current performance, and carry out its business objectives and milestones and under the anticipated timing and costs in connection with; the execution or achievement of such objectives and milestones; the Company's ability to capitalize on the potential benefits resulting from the potential distribution expansion in the North American market; the Company and Safety Strips' respective abilities to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for it to carry out its plans as described; statements with respect to the growing market for narcotic testing and harm reduction solutions; statements with respect to the market for narcotic testing and harm reduction solutions experiencing rapid growth on a global scale; the ability for the Company to be a leader in the medical testing space; statements with respect to Safety Strips' ability to generate revenue from the sale of its products; the ability of the Company and Safety Strips to successfully integrate their businesses; and that there will be continued growth, strategic acquisitions, and innovative partnerships that would expand the Company's market presence.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to maintain or exceed its current performance, and carry out its business objectives and milestones and under the anticipated timing and costs in connection with, the execution or achievement of such objectives and milestones; the Company's inability to capitalize on the potential benefits resulting from the potential distribution expansion in the North American market; either the Company's or Safety Strips' inability to maintain its stated licenses and obtain all necessary additional licenses and regulatory approval required for the Company or Safety Strips to carry out its plans as described; the Company's inability to significantly enhance its portfolio after any strategic acquisitions it may complete, including the proposed acquisition of Safety Strips; statements with respect to the growing market for narcotic testing and harm reduction solutions; statements with respect to the market for narcotic testing and harm reduction solutions experiencing rapid growth on a global scale; the inability of the Company and Safety Strips to successfully integrate their businesses; the ability for the Company to be a leader in the medical testing space due to the proposed acquisition of Safety Strips; and that there will be continued growth, strategic acquisitions, and innovative partnerships that would expand the Company's market presence.
Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229445
SOURCE: Safe Supply Streaming Co Ltd.
