NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORTOLA, BVI / ACCESSWIRE / August 26, 2020 / TraceSafe Inc. (“Tracesafe”) (CSE:TSF) a global leader in wearable safety tech including contact tracing and self-quarantine management, is pleased to provide an update on recent business and pipeline progress since the $4 million capital raise closed earlier this month.
TraceSafe’s wearable safety technology business, commonly referred to as “Safety Tech,” has increased its production capacity to 300,000 wristbands and other wearable devices per month, up from approximately 30,000 in 1Q20 (a 10X increase).
For a single government customer, we have sold and shipped a company record of 180,000 wristbands within the last two quarters and average order size quantity from government customers has increased 4X from 1Q20. We continue to actively pursue new government orders. We have recently participated in two government tenders, one for over 120,000 bands the other for over 30,000 wristbands and gateways.
TraceSafe is moving forward with the following business initiatives:
- Deploy numerous pilot projects for large organizations for the purpose of converting successful pilots into material contracts;
- Growing world-class sales channels, including partnerships and integrations with leading SaaS companies;
- Implement new technology in our wearable devices and gateways that take us beyond wristbands;
- Diversify and scale our supply chain globally.
Our typical closing cycle with a sales prospect is to begin with a small pilot to prove the concept in a workplace or facility and then make industry specific customizations based on feedback. If successful, we take and fulfill an initial order and implement it across the company or organization. We then support the company with ongoing training gear up for future orders and expanded revenue offerings.
We are currently running over 20 active pilot projects for our contact tracing product in the following segments:
- Enterprise and offices
- Construction sites
TraceSafe has designed and manufactured five new products including gateways and wearables:
- Generation 2 wristband in partnership with Atmosic
- Clip-on tags for office and industrial use
- Contact tracing gateway to facilitate seamless cloud uploads during mass gathering events
- Quarantine gateway which acts as a privacy-enhancing mobile phone substitute for government quarantine deployments
- New suite of innovative connected hospital products.
TraceSafe has built a foundation and active supply chain in Singapore, particularly with construction firm Boustead Projects E&C Pte Ltd (Singapore) and Hong Kong, with two additional countries at the pilot stage.
“From increasing production capacity to fulfilling and deploying orders worldwide, we’re excited about the tremendous growth we’ve witnessed within the company,” said Dennis Kwan, CEO of TraceSafe Technologies Inc. “Our goal is to scale responsibly and provide the best products possible for health quarantine, contact tracing and other technological solutions for public health management.”
Tracesafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. Tracesafe’s leading cloud management solution ensures both user privacy and comprehensive administrative control. Tracesafe’s patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, Tracesafe is developing leading edge solutions for Enterprise, Healthcare, Education Government and large-scale venue management.
For further information, please contact:
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on Tracesafe’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the Tracesafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the Tracesafe technology. Although Tracesafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and Tracesafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
SOURCE: TraceSafe Inc.
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Pandemic puts extra hurdles in place for new Sylvan Lake businesses – The Pipestone Flyer
“People probably think I’m crazy to be opening a new business during a pandemic,” said Sharon Hickin, general manager of the new Lake House Diner and Days Inn Sylvan Lake.
Over the past seven months numerous new businesses have opened in Sylvan Lake, despite the pandemic closing the doors of many others.
Even though a pandemic may not seem like the best time to start a new venture, Bryan Lang, owner of Forge – Games and Hobbies, says with most new businesses, like his, you don’t have a choice but to open anyway.
“So much planning goes into opening a new store… To decide to wait until the pandemic is over would cost more than opening now,” Lang said.
However when the pandemic hit back in March, Lang said he didn’t alter his course and maintained his plan to open his shop in September.
He said he, like everyone else, expected the pandemic to be over by the summer and then life would go on like normal.
Opening a new business comes with many hurdles and difficulties, during a pandemic extra hurdles are put into place.
For both Lang and Hickin the most difficult hurdle to overcome is dealing with other businesses, such as suppliers and distributers, especially when those businesses are working reduced hours or from home.
Hickin says it takes longer to get anything done.
“With reduced hours and working from home it will take people days to get back to me on almost anything,” Hickin said.
Lang said his major hurdle has been working with his distributers, and the ongoing delays on shipments.
The shipment delays are only exasperated when expecting a shipment for a major game launch.
“I understand that they are dealing with the pandemic just the same as everyone else, but when I tell my customers that a product is coming in on Friday but I don’t actually get it until maybe the next week, that hurts my reputation,” said Lang.
Shipment delays kept the shop from opening on time, and pushed opening day back by about two weeks.
The biggest fear related to opening a business during a pandemic is for it to be traced back to an outbreak.
Both Hickin and Lang say they are doing everything in their power to keep potential spread of the virus to an absolute minimum, but the concern is always there, especially in places where people gather.
Hickin decided to move at a slow pace when opening the new restaurant. She said ensuring social distancing and having a smaller menu to begin with will help.
“We are doing everything we can. We are doing everything according to the rules, so we just have to hope for the best,” Hickin said.
Having a contingency plan in place is also important when opening a new business, especially during a pandemic.
If restaurants are forced to close again, Hickin said they will look at their options avialable and offer take out kits or menus if possible.
Lang said the safety of his customers and their family is important and will do everything in his power to ensure they are safe and healthy.
“I have hand sanitizer available, our gaming tables have plastic table cloths over them for easy cleaning, and when playing with miniatures the only person able to handle them is the owner,” Lang said.
On the positive side, the pandemic has reshaped how many people think when it comes to shopping.
While online shopping has increased during the last seven months, so has the drive to shop locally.
Lang hopes the increased shop local drive will benefit the new businesses that have opened and those that will open in the future.
“I may not have locally produced products, as I am a game shop, but I am a local business owner, who needs the support of the community all the same,” he said.
Ultimately, when it comes to opening a new business, in a pandemic or otherwise, one needs to be optimistic.
“You just have to be positive and hope for the best,” said Hickin.
Meta Growth Shareholders Overwhelmingly Approve Transformational Business Combination with High Tide to Create Canada’s Largest Cannabis Retailer
TORONTO, Oct. 28, 2020 /CNW/ – Meta Growth Corp. (TSXV: META) (“META” or the “Company”) and High Tide Inc. (CSE: HITI) (OTCQB: HITIF) (Frankfurt: 2LY) (“High Tide”) are pleased to announce that, at the special meeting of shareholders of META held yesterday (the “Meeting”), the shareholders of META voted in favour of a special resolution to approve the previously announced proposed business combination pursuant to which High Tide will acquire all of the issued and outstanding common shares of META (“META Shares”) by way of a plan of arrangement under the Business Corporations Act (Alberta) (the “Arrangement”), as further described in the joint news release issued by META and High Tide on August 21, 2020. The Arrangement required approval by 66 ⅔% of the votes cast by META shareholders present in person or represented by proxy at the Meeting.
The Arrangement will create:
- Canada’s Largest Cannabis Retailer with $1481 million in Annualized Revenue
- Annual Cost and Operational Synergies of Approximately $8 million to $9 million
- A strong Balance Sheet to Support Growth
A total of 102,113,758 META Shares, representing approximately 43.1% of the outstanding META Shares, were represented in person or by proxy at the Meeting. Of the votes cast with respect to the Arrangement, an aggregate of 102,063,111 META Shares were voted in favour of the Arrangement, representing approximately 99.95% of the votes cast on the resolution approving the Arrangement.
It is expected that META will apply for a final order from the Court of Queen’s Bench of Alberta in respect of the Arrangement on October 28, 2020. Completion of the Arrangement remains subject to receipt of required regulatory and court approvals and other customary closing conditions, which are set out in the arrangement agreement between META and High Tide dated August 20, 2020, a copy of which can be found on the SEDAR profiles of META and High Tide at www.sedar.com. Assuming that the conditions to closing of the Arrangement are satisfied or waived, it is anticipated that the Arrangement will be completed on or before the end of November. Further information about the Arrangement is set forth in the materials prepared by META in respect of the Meeting, which were mailed to META shareholders and filed under META’s profile on SEDAR at www.sedar.com.
META is a leader in secure, safe and responsible access to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Co.™, Meta Cannabis Supply Co™ and NewLeaf Cannabis™ recreational cannabis retail stores, META enables the public to gain knowledgeable access to Canada’s network of authorized Licensed Producers of cannabis. META is listed on the TSX Venture Exchange (“TSXV”) under the symbol (TSXV: META).
About High Tide
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of cannabis lifestyle accessories. Its premier Canadian retail brand Canna Cabana spans 34 locations in Ontario, Alberta and Saskatchewan, with additional locations under development across Canada. High Tide has been serving cannabis consumers for over a decade through its numerous lifestyle accessory enterprises including eCommerce platforms Grasscity.com and CBDcity.com, lifestyle and licensed entertainment brand manufacturer Famous Brandz, and its wholesale distribution divisions RGR Canada Inc. and Valiant Distribution.
High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX:APHA) (NYSE:APHA) and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
Forward Looking Statements
Neither the Canadian Securities Exchange (“CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE), accepts responsibility for the adequacy or accuracy of this release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to anticipated revenue, operational and annual cost synergies of approximately $8 million to $9 million, receipt of regulatory and court approvals, the completion of any capital project or expansions, the anticipated timing for closing of the Arrangement and the satisfaction of closing conditions of the Arrangement, including, without limitation, obtaining applicable regulatory approvals and a final order from the Court of Queens Bench of Alberta. In particular, there can be no assurance that the Transaction will be completed. Forward looking statements are based on certain assumptions regarding High Tide and META, including expected growth, results of operations, performance, industry trends and growth opportunities. While High Tide and META consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the retail cannabis markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the retail cannabis industries generally; income tax and regulatory matters; the ability of High Tide and META to implement their business strategies; competition; crop failure/conditions; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. High Tide and META disclaim 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 required by law.
1 Annualized based on META and HITI’s most recent publicly reported quarters
SOURCE Meta Growth Corp.
Harley-Davidson is getting into the electric bicycle business – TechCrunch
Harley-Davidson has spun out a new business dedicated to electric bicycles and plans to bring its first line of products to market in spring 2021.
The new business called Serial 1 Cycle Company started as a project within the motorcycle manufacturer’s product development center. The name comes from “Serial Number One,” the nickname for Harley-Davidson’s oldest known motorcycle.
The pedal assist electric bicycle company is being launched amid a booming ebike industry fueled by growing demand in the wake of the COVID-19 pandemic. The global eBicycle market was estimated to be over $15 billion in 2019 and projected to grow at an annual rate of more than 6% from 2020 to 2025, according to Harley-Davidson.
The new Harley-Davidson brand Serial 1 didn’t provide performance details or other specs of its new line of electric bike products. However, the company did release several photos of its first model.
The new business launch also comes at a critical time for the Milwaukee-based motorcycle manufacturer, which has seen its sales slow as its core customer base ages out of its motorcycles.
In July, Harley-Davidson cut 700 jobs from its global operations as part of an internally branded restructuring plan called “The Rewire.” The plan, which Harley-Davidson chairman, president and CEO Jochen Zeitz first spoke about in the company’s first-quarter earnings call back in April, followed the launch of the company’s first production electric motorcycle the Livewire.
“The formation of Serial 1 allows Harley-Davidson to play a key role in this mobility revolution while allowing Serial 1 to focus exclusively on the eBicycle customer and deliver an unmatched riding experience rooted in freedom and adventure,” Aaron Frank, the new company’s brand director said in a statement.
Harley-Davidson said Jason Huntsman is president of Serial 1 Cycle. The rest of the executive team includes Ben Lund, who is vice president of product development and Hannah Altenburg as lead brand marketing specialist.
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