September 10, 2018 – Richmond, British Columbia – Eastwood Bio-medical Canada Inc. (TSX-V: EBM) (the “Company”) is pleased to announcement the successful acquisition of product approvals from the Ministry of Food and Drug Safety, of South Korea. As a result of these approvals, initial shipments of products valuing at about $450,000 in consumer retail value were sent to South Korea during the Company’s third quarter.
Yunji Kim, President and CEO commented, “The South Korean government has some of the highest and most stringent standards anywhere. The South Korean market is also one of the most competitive and savvy consumer markets in the world. We are very proud and excited about our recent foray into it. Eleotin® products can now be found in major Korean online shopping sites such as Gmarket, Auction, 11Street, Interpark and Naver.”
About Eastwood Bio-Medical Canada, Inc.:
The Company is a Vancouver based biotechnology company whose Eleotin® brand of products provide natural sourced solutions for metabolic syndromes such as blood glucose control, obesity, and hypertension.
Eleotin® was initially developed by the scientists at the Julia McFarlane Diabetes Research Center (JMDRC) at the University of Calgary in Alberta, Canada. The JMDRC is a leader in research on the cause, cure, and prevention of Type I and Type II diabetes. After the initial development by the JMDRC, research and development were continued by Eastwood Biomedical Research Inc., the Company, and other institutions around the world, including Tsinghua University of the People’s Republic of China. Eleotin® products have been endorsed by thousands of doctors and diabetes associations around the globe.
More information on Eastwood Bio-Medical Canada Inc., can be found on the website www.eleotin.ca.
For further information, please contact:
Eastwood Bio-Medical Canada Inc.
Yunji Kim, President and Chief Executive Officer
Telephone: (604) 247-2100
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. There is no assurance that the new products will produce the revenue increase the Company expects. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
