Tickers: XCNQ:PDTI, PINX:PDTTF
Tags: #Mining, #Healthcare
Winnipeg, MB - TheNewswire - June 18 2019 - Preferred Dental Technologies Inc. (PDTI:CSE, PDTTF:OTCPK) is very pleased to report progress on several ongoing initiatives that have been announced in previous press releases. Talks have advanced significantly with Gillespie Farmer's Delight Company Ltd. (GFDCL) since our announcement of an agreement in principle made May 16th 2019. Both parties are excited with the progress of this venture which would see Preferred Dental Technologies Inc. (PDTI) be a 22.5% partner of GFDCL on a planned 240 acre hemp growing operation and EU GMP CBD extraction facility located in Jamaica. This arrangement creates no financial obligation on PDTI for any of GFDCL's capital needs while providing PDTI guaranteed supply to high quality, low cost supply of CBD for it's 'PDT Wellness' line of products. PDTI will use its shares valued at $0.13 (13 cents) Canadian to secure this $500,000 US asset adding value to shareholders on the balance sheet as well as providing an opportunity for additional vertical growth and revenue as GFDCL grows.
Mr. Erik Siegmund, President and CEO says he's pleased the company is entering the final phases of execution and anticipates execution shortly.
Since our pending JV announcement we have received a number of requests for CBD, which is extremely encouraging. It is apparent there is high demand for EU GMP products and PDTI is in numerous discussions that vary from wholesale supply of CBD oils, distillates and isolates as well as our intent to supply white label services.
An important word of caution we make to all inquiries is we will only supply to a business that has all requisite licenses and permits for their location. We have also had the opportunity to speak to parties expressing interest in working with PDTI and GFDCL in the distribution of organic, high quality CBD and related products. Initial meetings have been held and further updates will be released as these develop.
While CBD and 'PDT Wellness' represent an obvious growth vertical for PDTI, there is an overlap between dental implants and potential users of CBD products for pre and post-surgical pain and anxiety treatment.
PDTI has also continued with developments for the commercialization of it's EAS Abutment system. Two additional sales team members are currently being vetted, one is located in San Francisco, the other in Arkansas and we look forward to training them in both the EAS Series of dental abutments and the 'PDT Wellness' line as we look to expand our market reach.
The vision and reality of International expansion for EAS dental abutments sales has taken a big leap forward following meetings held on May 20th. The owners and founders from one of Brazil's largest dental implant companies flew to Winnipeg and met with PDTI's President and CEO and members of our board and advisory team. Following a very positive discussion in which the EAS abutment was well reviewed, it was agreed that the system held great potential for the Brazilian market and that additional steps to proceed should be taken. Brazil represents the 3rd largest global market for dental implants, and many Brazilian implant companies have been significant exporters to the rest of South America and beyond. The universal nature of the EAS and economic advantages were apparent as well as competitive advantages when compared to products currently in use.
PDTI's efforts in developing lower cost components to meet the local economies of these markets, as well as the system's flexibility and ease of use were all commented on. While there are no guarantees of a final agreement, NDA's and a Memorandum of Understanding have been submitted for review by both companies. This could represent a significant advancement for PDTI's expansion into foreign markets identified in previous press releases.
CEO and President, Erik Siegmund stated: "In the weeks since our last press release, I am proud to say that many long running initiatives look to be coming to fruition. Initiating and mobilizing a US sales team with broad US coverage, as well as expansion into foreign markets for our complete line of EAS series of dental abutments will be a major milestone once achieved. Our pending joint venture with Gillespie Farmer's Delight Company Ltd., represents months of effort from our board, our team members and our advisors and would like to thank them all for their confidence in PDTI and hard work. I look forward to making additional announcements on the progress and closing of these initiatives and more soon."
About PDTI
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Preferred Dental technologies Inc. (PDTI) has been established to advance development and commercialization of various evolutionary and disruptive technologies in the dental implant industry.
MISSION - INNOVATIVE & PRACTICAL SOLUTIONS FOR THE DENTAL INDUSTRY
Visit: www.prefdent.com
On behalf of Preferred Dental Technologies Inc.
Erik Siegmund
Chief Executive Officer
Tel: 204.691.3722
www.prefdent.com
All product names referenced herein are trademarks of their respective companies.
This news release may contain forward-looking information which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither The Canadian Securities Exchange nor its Regulations Services Provider (as that term is defined in the policies of The Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
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