Toronto, Ontario--(Newsfile Corp. - May 30, 2024) - Safe Supply Streaming Co Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) ("Safe Supply" or "the Company") is pleased to provide a shareholder update, announcing that it will be expanding its strategic focus into medical testing and technology-driven AI-powered healthcare solutions, which includes advancements in mental health, addiction treatment, and safe supply methodologies.
Safe Supply has spent the last two years building a proprietary pipeline of M&A targets. The Company intends to explore transaction structures, partnerships, and assess total addressable markets that provide the most accretive revenue opportunities in the short term within the legal framework of safe supply. The Company has concluded that medical testing and technology driven solutions around mental health, counselling, addiction, and harm reduction testing provide the most attractive and strategic opportunities for the third wave.
The global medical testing market is projected to reach $175 billion by 2025, growing at a CAGR of 6.5%. This growth is driven by an increasing prevalence of chronic diseases, advancements in testing technologies, and a heightened focus on preventive care. Safe Supply sees significant opportunities in this sector to leverage its expertise and resources to drive innovation and capture market share.
The opioid crisis, particularly the surge in fentanyl-related overdoses, continues to be a critical public health issue. In 2023, the U.S. alone reported over 100,000 drug overdose deaths, with opioids accounting for nearly 70% of these fatalities. The global opioid addiction treatment market is expected to grow from $4.7 billion in 2021 to $8.2 billion by 2028, highlighting the urgent need for effective solutions. Safe Supply's focus on safe supply methodologies aims to address this crisis head-on, providing lower risk alternatives and innovative treatment options.
The AI-powered healthcare market is set to revolutionize the industry, with the market size expected to grow from $6.9 billion in 2021 to $67.4 billion by 2027, at a CAGR of 44.9%. AI applications in healthcare include diagnostics, personalized medicine, patient monitoring, and drug discovery. Safe Supply's strategic expansion into AI-powered solutions positions the Company to capitalize on these trends, enhancing its service offerings and improving patient outcomes.
Bill Panagiotakopoulos, CEO of Safe Supply, commented: "Medical testing and technology present the biggest opportunity for growth in our sector. We have identified fast-growing revenue streams, attracted institutional capital, and see substantial potential in this market. You will hear more about our investments and acquisitions as we leverage our currency and balance sheet to collaborate with emerging tech and medical testing companies. Our goal is to create a robust ecosystem that not only addresses current healthcare challenges but also anticipates future needs."
The Company has successfully established a versatile vehicle trading on the Frankfurt and OTC markets, designed to attract new partners and facilitate strategic growth. This move aligns with Safe Supply's commitment to staying at the forefront of market trends and capitalizing on the burgeoning technology sector.
Corporate Update
Effective today, Safe Supply has consensually suspended previously announced funding commitments to 2683450 Ontario Inc. due to its timing in meeting performance requirements. Safe Supply reserves the right to purchase 40% of 2683450 Ontario Inc. over the next year at Safe Supply's discretion.
Safe Supply is released of all funding obligations with CannaLabs, whereby CannaLabs will pay Safe Supply $50,000 from the initial $200,000 deposit provided by the Company, payable within the next six months from today's date.
The Company is positioning toward pivoting to investments in other industry verticals with more favourable risk-reward profiles. Consequently, Safe Supply Streaming has suspended alternative forms of financing, including LIFE (Listed Issuer Financing Exemption) and ATM (At-The-Market) financings.
About Safe Supply Streaming Corp
Safe Supply Streaming Corp. (CSE: SPLY) is a publicly traded company focused on innovative healthcare solutions, including safe supply methodologies, medical testing, and AI-powered technology. The Company is dedicated to improving mental health and addiction treatment through cutting-edge advancements and strategic partnerships.
Investor Relations Contact:
Safe Supply Streaming Corp.
Email: [email protected]
Phone: (123) 456-7890
Bill Panagiotakopoulos
Chief Executive Officer and Director
[email protected]
Website: www.safesupply.com
Forward-Looking Information and Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements.
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