Friday, October 16, 2020
9:02 PM EST – Softlab9 Technologies Inc. : Provided shareholders with the following corporate update. Softlab9 continues to perform its due diligence process on its acquisition of Clean Go Green Go Inc. This process has taken more time than expected due to the changing market conditions and latest developments at CleanGo GreenGo and its partners. The Company expects to complete a definitive agreement in the near future as it awaits the completion of CleanGo GreenGo audits. Once completed, Softlab9 expects the transaction to close quickly. The Transaction is subject to all required regulatory approval, including approval of the Canadian Securities Exchange.
– Softlab9 Target Acquisition CleanGo GreenGo and CBIO Brand Distribution International Inc. to supply bulk concentrate material for CBIO’s SaniGenix Naturals line of hard surface disinfectants and sanitizers.
Since the news release dated August 18, 2020, SoftLab9 is pleased to announce that CleanGo GreenGo has shipped over 6000 liters of CleanGo GreenGo concentrate, which is then diluted to make 102,000 bottles of CBIO’s line of cleaners. The frequency of shipments is expected to continue into the new year.
– Distribution Agreement with Australia-based Emergence Technology to Distribute Covid-19 Rapid Test Kits
Since the news release dated August 24, 2020, SoftLab9 has made progress to complete the transaction. The parties currently have signed a letter of intent is in place but a definitive agreement with Emergence Technology PTY LTD. has not yet been signed. Softlab9 is awaiting a shipment of 1000 Orient Gene Antigen Test kits it has purchased to clear Canadian customs in order to perform its due diligence before moving to a definitive agreement.
– Distribution Agreement with Mexico-based HEG, S. de C.V. (HEG) to distribute PPE.
Since the news release dated August 26, 2020, Softlab9 has been working to receive approval from Health Canada to begin sales of Class 1 medical products. Softlab9 is pleased to report it has reached an agreement with a partner and now has the ability to import and sell its products to customers. Softlab9 is finalizing a definitive agreement with HEG and expects to complete it within the next while.
– Shares for Debt
The Company has issued 51,546 common shares of Softlab9 to settle $50,000 of outstanding debt with an arm’s length third party. Softlab9 Technologies Inc. (C.SOFT) shares were unchanged at 0.71.
Stocks in Play: Softlab9 Technologies Inc., Fri, 16 Oct 2020 09:15:03 EST