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Deer Horn subsidiary Cheona Health signs MOU with US partners to import Covid-19 test kits from South Korea for US market

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Cheona Health signed the MOU on August 6th with Impact@RESOLVE LLC and Tokimus Biotech to help distribute Covid-19 test kits from South Korea into the United States. Under the MOU, IMPACT will work with its broad-based networks to get equipment to first responders, communities in need, institutions and others. When Tokimus makes sales in these networks, a portion of those sales will go to fund IMPACT’s social enterprise efforts, with a commission going to Cheona Health.

Additional Information:

Company: Deer Horn Capital
Website: http://www.deerhorncapital.ca
Stock Symbol: CSE: DHC
Date Published: Aug 18, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Deer Horn Capital’s subsidiary, Cheona Health signs MOU on August 6th with Impact@RESOLVE LLC and Tokimus Biotech to help distribute Covid-19 test kits from South Korea into the United States.

Distribution will be initially targeted to disadvantaged communities that are particularly vulnerable to Covid-19.

Cheona Health, in which Deer Horn holds a 49% interest, is led by Indigenous leader Allen Edzerza and was formed to help Indigenous communities achieve better health and well-being.

Focused on reducing the spread of Covid-19 in Canada and facilitate convenient and effective testing for the disease, Cheona Health’s first step in this mission is to supply safe, fast and affordable FDA-approved Covid-19 test kits to Tribal communities.

IMPACT, a wholly-owned subsidiary of RESOLVE Inc., is a social enterprise operating under a mandate to help launch impact enterprises aligned with the philanthropic mission of RESOLVE, a diversified NGO established in 1977 that forges sustainable solutions to critical social, health and environmental challenges..

As part of its response to the COVID-19 pandemic, IMPACT is working to bolster the capacity of communities, the private sector, civil society, institutions and governments to prepare for and respond to public health, environmental, and economic emergencies by supporting social enterprise activity in this area, including scaling production of personal protective equipment and other supplies including test kits.

Stephen D’Esposito, President and CEO of RESOLVE, stated: “When a crisis like Covid-19 hits, we mobilize our networks. This agreement with Tokimus and Cheona Health aligns perfectly with our mandate to rapidly develop, test, deploy, and scale creative solutions to help tackle urgent problems like critical resource shortages.”

Tokimus Biotech, founded by a group of medical practitioners and importers dedicated to providing fairly-priced, quality disease testing kits and other medical products in North America, is registered with the US FDA as a direct medical importer.

Recognizing the unmet need for fast and reliable Covid-19 testing, Tokimus is importing FDA/EUA-approved diagnostic test kits including RT-PCR (DNA/RNA) lab-based kits as well as point of care-Antibody tests, from leading, high-capacity manufacturers in South Korea.

Tokimus has initiated processes to comply with regulatory requirements to make sales in Canada, including general registration under “Medical Device Export License”, with specific product registration review being conducted by Health Canada.

Patrick Riggs, President and CEO of Tokimus, added: “From the beginning, we’ve focused our medical supply chain on South Korea. We have developed exclusive supply agreements with some of South Korea’s leading medical device manufacturers. Their pricing is fair, and their quality and standards are rigorous and exceptional.”

Under the MOU, IMPACT will work with its broad-based networks to get equipment to first responders, communities in need, institutions and others.

When Tokimus makes sales in these networks, a portion of those sales will go to fund IMPACT’s social enterprise efforts, with a commission going to Cheona Health.

Tyrone Docherty, President and CEO, stated: “The combined power of IMPACT, RESOLVE, Tokimus and Cheona Health will be formidable in the fight against Covid-19. “Not only are we harnessing the power and reach of an NGO like RESOLVE that was able to quickly scale a PPE response to Covid-19 with companies like Cisco and Coca-Cola and governors in the US, we’re working with Allen Edzerza, one of Canada’s most respected Indigenous leaders. Add to this Tokimus’ network of diversified medical device companies in South Korea, and you have a perfect combination to get crucial, high-quality Covid-19 testing into disadvantaged communities that need it urgently.”


RESOLVE is currently working with Cheona Metals, also 49% owned by Deer Horn, to restore salmon habitat impacted by mining in British Columbia and Yukon Territory under the Salmon Gold™ label.

Deer Horn is also applying for a five-year exploration permit as part of its permit application for a 10,000-tonne bulk sample at the company’s 51.3-square-kilometer, Deer Horn gold-silver-tellurium property located 135 kilometres southwest of the community of Burns Lake and 36 kilometres south of the Huckleberry mine in west-central British Columbia.

The permit will be used for drilling and other exploration to expand the property’s current NI 43-101 resource of high-grade gold, silver and tellurium.

The company has produced positive economics in a Preliminary Economic Analysis and, to management’s knowledge, hosts Canada’s only NI 43‐101 tellurium resource.

The shares are currently trading at $0.11.

For more information, please visit the company’s website at www.deerhorncapital.ca, contact Tyrone Docherty, President and CEO, at 604-789-5653 or email tyrone@deerhorncapital.ca.

I’m Megan Edwards for Investmentpitch Media