MAY 13, 2021, Vancouver, British Columbia: Wellteq Digital Health Inc. (CSE:WTEQ) (OTC:WTEQF), (the “Company” or “Wellteq”), is pleased to announce the Company has signed a letter of intent (the “LOI”) detailing the general terms of a strategic partnership with Frontier Wellness Management and its operating subsidiary Apotheek Pharma Consulting (FW-APC) in the European Union.
The FW-APC team have a combined 100 years of experience focused on marketing health and wellness solutions into their unique network of 140,000 medical professionals in the healthcare, pharmacy, and pharmaceutical markets in Spain.
Upon execution of a Formal Strategic Partnership Agreement, FW-APC will advance EUR100,000 to Wellteq. This amount will be applied toward application localization, development, and integration. Working with Wellteq sales and marketing personnel, FW-APC will immediately initiate marketing of the Wellteq smartphone application, working with Wellteq sales and marketing personnel, into FW-APC’s existing client base. FW-APC will ensure that white label solutions of Wellteq applications will be identified as “powered by Wellteq”.
Wellteq will be the technology partner for any required development of the Wellteq solution and for the sourcing and integration of third-party applications / solutions. Where ancillary revenues are generated through the deployed offerings, it is expected that the parties will agree on an equitable distribution of the revenue streams between FW-APC, Wellteq and any integrated third-party solution partners.
Wellteq is initiating European distribution ahead of schedule as part of its geographical expansion plans, reinforcing the market need for globally focused digital health platforms.
“The Spanish healthcare system is more acutely focused on prevention versus treatment when compared to most jurisdictions, and Wellteq fits perfectly within that system while also bringing significant economic benefit to those enterprises adopting the platform,” stated John MacPhail, CEO of Frontier Wellness.
“The pandemic has created a demand from our network of clients to improve and increase their digital presence not only for their customers but also for their employees. Wellteq provides a truly unique and universal solution to those needs” said Carles Deulofeu, Managing Director of Apotheek Pharma Consulting.
Scott Montgomery, CEO of Wellteq, said, “Working with Frontier/Apotheek provides a unique and immediate marketing, sales and revenue opportunity for Wellteq’s digital health and wellness solutions and fast-tracks our entry into the European Union through a strategic partnership with an organization that has an incredibly deep relationship network already in place.”
wellteq Digital Health Inc. is a leading global provider of personalized digital health and wellness
solutions across the continuum of care.
To learn more, visit https://wellteq.co/
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wellteq Investor Contact:
Bristol Investor Relations
T: (905) 326-1888
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This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements
involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or
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Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected
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statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that
may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and
assessments of historical trends, current conditions and expected future developments. Although management believes that these
assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results
may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual
results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory,
legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of
the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general
economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital
requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand
for Wellteq’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and
general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of Wellteq as of the date of this news release
and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and
should not rely upon this information as of any other date. Wellteq undertakes no obligation to update these forward-looking statements
in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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