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    COPRF   CA58503M1014

MEDIVOLVE INC.

(COPRF)
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Marbella Pharmacy Launches Vaccine Distribution in Orange County, California

06/17/2021 | 07:30am EDT

TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) a healthcare technology and services company, today announced Marbella Pharmacy has received an initial allocation of vaccines from the California State Government for Orange County. Marbella, a CalVax approved pharmacy, will now be distributing vaccines to the public out of its retail pharmacy location in San Juan Capistrano as well as through partner clinics in the County. Earlier in May, Medivolve announced it signed a binding agreement to acquire 100% of all outstanding shares of Marbella, where the transaction is expected to close imminently.

"As indicated earlier this year, it has been Medivolve’s intention to distribute vaccines to Americans as part of its COVID-19 prevention strategy, and I am now pleased to announce we have achieved this goal,” said David Preiner, CEO of Medivolve. “We are very excited about this development from Marbella as it serves as an opportunity to do our part to vaccinate the American public against COVID-19 by distributing the vaccine to the underserved segments in the State of California."

As part of its vaccination campaign, Marbella will receive a fee per vaccine distributed. This initial allocation is expected to be the first of many allocations received from the State of California. Marbella is currently in negotiations with other Counties to receive additional allocations and launch vaccination campaigns for Californians across the State.

“Once the transaction closes, Medivolve will expand the use of Marbella, leveraging its ability to deliver patient care through immediate access to pharmaceutical distribution throughout the state of California. As we launch telehealth programs at our mobile health clinics across the United States we will continue to harness the transformative power of technology to help more people live healthier lives.” David Preiner further commented.

About Marbella Pharmacy
Located in San Juan Capistrano, California, Marbella is an open-door retail pharmacy specializing in traditional medication and non-sterile compounded products, immunizations, and specialty and maintenance medications. Marbella Pharmacy also provides no cost door-to-door prescription delivery service and is reputed for servicing the underserved and worker’s compensation patients. The pharmacy is CalVax approved and is eligible to participate in the California COVID-19 Vaccination.

About Medivolve Inc.
Medivolve Inc. (NEO:MEDV; OTC:COPRF; FRA:4NC) focuses on finding and developing disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and transform human health management. This includes providing convenient and accessible medical services for testing, prevention, and treatment. Medivolve is comprised of a team of renowned global medical and business advisors who are committed to helping fulfill Medivolve’s mission of searching for and investing in breakthrough sciences, technologies, research, or resolutions to empower the betterment of humankind. This panel includes prominent Stanford neurologist and immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, one of North America’s most prominent orthopedic treatment and sports medicine specialists.

For investing inquiries, please contact: 
info@medivolve.ca  

For U.S. media inquiries, please contact: 
Sophia Powe 
sophia@therelentlesscollective.com 

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the acquisition of Marbella Pharmacy; the launch of vaccine distribution by Marbella Pharmacy; the pursuit by Medivolve of opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 


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ę GlobeNewswire 2021
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Financials
Sales 2020 10,6 M 8,42 M 8,42 M
Net income 2020 -37,8 M -29,9 M -29,9 M
Net Debt 2020 19,0 M 15,0 M 15,0 M
P/E ratio 2020 -0,85x
Yield 2020 -
Capitalization 21,0 M 16,7 M 16,7 M
EV / Sales 2019 -32,8x
EV / Sales 2020 7,50x
Nbr of Employees 300
Free-Float 84,3%
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Managers and Directors
David Preiner Chief Executive Officer
Deborah Lynn Battiston Chief Financial Officer
Wen Ye Executive Chairman
Daniyal Baizak Independent Director
Beverly J. Richardson Independent Director
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