G Medical Innovations Holdings Limited advised that it has received notification through its partner First Channel Ltd. (FCL), that the company's Prizma medical device has been granted regulatory approval by the Taiwan Food and Drug Administration (FDA). FCL has until 4 April 2020 to provide the FDA with ancillary Prizma product information (including packaging and labelling) to allow for collection of the permit license in respect of the granted FDA regulatory approval (Permit License). In accordance with the existing non-exclusive Memorandum of Understanding (MOU) between the Company and FCL (collectively the Parties), the Parties will commence negotiations in good faith, in order to execute a binding agreement to detail specific matters surrounding the distribution and services level requirements (including but not limited to distribution partners, cloud services, call centre operations, end-customer solutions) for the Prizma within Taiwan. The Parties have commenced discussions to delineate commercial strategies for the Taiwanese market. As previously advised by the Company, the distribution of the Company's medical products by FCL remains subject to FCL finalising and entering into additional definitive agreements with FCL's third party partners. G Medical intends to explore additional partnerships within Taiwan. The Company looks forward to updating its shareholders as further details become available.