ScreenPro Provides Covid-19 Testing Update and Announces Insider Share Purchases
Toronto, Ontario--(Newsfile Corp. - June 16, 2022) - ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") reports that the Covid-19 testing administered remained steady in May with approximately 23,000 tests. As previously announced, new contracts signed with the film and production industry will commence in the summer season throughout fall where the Company expects to continue and maintain the current testing level.
The Company is also pleased to report that ScreenPro started providing testing solutions for cruise ships in and around Vancouver's Port where Covid-19 testing remains mandatory to board.
In addition, the Company reports that members of the Board of Directors and Senior Management have collectively purchased an additional 1,745,000 shares of the Company in the open-market. Details of the insider purchases are as follows:
Lena Kozovski, CEO, purchased 145,000 shares at an average price of $0.04
Michael Yeung, Chairman, purchased 750,000 shares at an average price of $0.04
Paul Haber, CFO, purchased 600,000 shares at an average price of $0.04
Alex MacKay, Director purchased 250,000 shares at an average price of $0.04
"Our expectations of steady Covid-19 testing numbers have aligned with our May figures. Senior management continues to have immense confidence in the Company as we work on improving and building business operations. The board and insiders have small windows of non-black out periods to purchase shares of the Company if they deem there to be value. With that, I'd like to personally thank our investors, board, and our team members for their support as we continue to progress," said Lena Kozovski, CEO of the Company.
ScreenPro is a medical technology company that provides turnkey screening solutions with its proprietary medical alerting software. ScreenPro's unique access to multiple manufacturers of high-quality test kits and its strategic partnership with labs in British Columbia, Ontario and Quebec allows ScreenPro to be a full-service nationwide provider of COVID testing and breast cancer screening solutions across Canada. In addition, ScreenPro's subsidiary, Concierge Medical, is a group of board-certified physicians who provide private, discreet, and personalized healthcare to Canadians. ScreenPro prides itself in having its own medical doctors and nursing professionals with on the ground support staff and transportation, with access to high quality PPEs to ensure that clients are protected in all aspects of their testing needs.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com.
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the "CSE") nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Lena Kozovski, CEO
Priya Atwal, Communications Manager
(416) 901-5611 x 204
Forward Looking Statements:
Certain statements contained in this news release may constitute forward‐looking information, including statements relating to expectations regarding the acquisition and business of Concierge Medical Consultants Inc. and the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
NON-IFRS FINANCIAL MEASUREMENTS
The Company has included non-IFRS performance measures throughout this press release, including (a) Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on change in fair value of the Company's investment properties and the gain (loss) on change in fair value of derivative instruments; and (c) Book Value per Share which is calculated as equity attributable to Datametrex AI Limited shareholders divided by total common shares outstanding at the end of the reporting period. These non-IFRS financial measurements do not have any standardized meaning as prescribed by International Financial Reporting Standards ("IFRS") and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company's financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income or any other financial measure of performance prescribed by IFRS. Reconciliation of non-IFRS measures has been provided throughout the Company's MD&A, as applicable, filed under the Company's profile on www.SEDAR.COM.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127976