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Avricore Health (TSXV:AVCR) has Announced a non-brokered Private Placement

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 15 million units priced at $0.10 per unit. The units consist of 1 share and one transferable warrant, with each warrant exercisable at $0.15 for 12 months, subject to an acceleration clause.

Additional Information:

Company: Avricore Health
Website: http://www.AvricoreHealth.com
Stock Symbol: TSXV:AVCR
Date Published: Oct 14, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Avricore Health has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 15 million units priced at $0.10 per unit.

The units consist of 1 share and one transferable warrant, with each warrant exercisable at $0.15 for 12 months, subject to an acceleration clause.

The shares are currently trading at $0.10.

The proceeds will be for general working capital purposes.

The company’s primary focus is on developing a network of point-of-care analyzers that utilize its HealthTab software in community pharmacy, workplaces and rural areas.

HealthTab, a proven point-of-care screening system, designed to support pharmacists evolving role, empowers patients to be proactive about their health by directly measuring and monitoring key safety tests and biomarkers of chronic disease.

The HealthTab test is simple, fast, lab-accurate, and requires just a few drops of blood from a finger stick with results either printed in-store or accessed securely online.

The consumer receives up to 21 results on their biomarkers, this data can also be shared with sponsors and researchers on a de-identified basis.

The company recently signed a Letter of Intent with a prominent, publicly traded healthcare technology company and drug maker with the objective of integrating and marketing its leading point-of-care device and Avricore’s platform for the purpose of delivering real-time testing and data reporting in community pharmacy.

The significance of this approach to the market is the enhanced access to screening and early detection of disease, better data for physicians and pharmacists to support their patients, plus new opportunities to conduct research and ensure patient safety.

The companies will work together to license and market this new platform.

Avricore engaged CEQAL Inc., a world-leading reference method laboratory located in Vancouver, B.C. to complete an independent evaluation of the device’s testing performance and reported that all minimum performance criteria were met and also confirmed the device’s software compatibility with HealthTab’s™ proprietary middleware.

Hector Bremner, CEO, stated: “With the pharmacist’s scope of practice expected to expand and strong public demand for better health screening, the combination of these two proprietary technologies will bring forward a revolution in the way patients can take control of their health. With this partnership, we have the potential for a robust expansion of locations this year and in 2021.”

HealthTab is currently located in Canadian pharmacies, such as Shoppers Drug Mart.

The company generates revenues from the distribution of our systems and associated supplies, as well as revenue from conducting tests, de-identified health data and software.

For more information, please visit the company’s website at www.AvricoreHealth.com, contact Hector Bremner, CEO, at 604-773-8943 or by email at info@AvricoreHealth.com.

I’m Megan Edwards for Investmentpitch Media