January 21, 2020 – Richmond, British Columbia – Eastwood Bio-Medical Canada Inc. (TSX-V: EBM) (the “Company”) is pleased to announce it has partnered with Ruiyan, a leading health screening company based in Beijing, China, with a patient base of 540,000 people, including 23,000 diabetes patients. The two companies plan to work together to expand their respective presences in the Chinese, Korean, and North American markets.
The Company has also signed a Memorandum of Understanding with Shingshin Health Care Services for an exclusive distributorship in Republic of China (Taiwan). Shingshin runs a network of senior care centers in various regions of Taiwan.
The Company is also pleased to announce the addition of seven new products since the previous announcement of new products on October 8, 2019: Eleotin D’Azur with Stevia, a premier marine collagen product; Eleotin Sambuco, an elderberry supplement; Eleotin Q-terol C2 Formula a specialized Nattokinase combination product; Eleotin Niveo, an antioxidant product featuring glutathione; Eleotin Gold Plus Afternoon, a combination of Traditional Chinese Medicinal ingredients and Vitamin D; Eleotin Vitamin A; and Eleotin Melatonin.
Since the beginning of 2019, the Company has added a total 18 new products to its product line, bringing the total to 84 products.
Yunji Kim, President and CEO, commented, “2019 was a fruitful year. We solidified our own manufacturing capabilities, allowing us to develop increasingly specialized health products. We have been fully utilizing this by developing more products. We first started with only nine product but now have over eighty and expect more to be added in the next few months.
We focused last year on expanding our Asian presence through Korean distribution partners. This year we look forward to venturing into the Chinese and Taiwanese markets. We do want to note that these markets are unchartered territory and the partnerships may not result in significant revenues and profits soon. But the great potential of the Chinese market remains common knowledge. About 11% of Chinese adults have Type II Diabetes. We look forward to making Eleotin available to them.”
About Eastwood Bio-Medical Canada, Inc.:
The Company is a Vancouver based 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 Type I and Type II diabetes. After the initial development by the JMDRC, research and development were continued by Eastwood Bio-Medical 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 medical associations around the globe, and authorized by Advertising Standards Canada (ASC) to be marketed as the ‘World’s #1 Doctor Recommended Natural Source Healthy Blood Glucose Promoting Product available in Canada.’
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.
