UniDoc Signs Definitive Agreement to Provide Telehealth Services in Nigeria

VANCOUVER, British Columbia, May 11, 2022 — UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF) (“UniDoc,” or the “Company”), an innovator in the telehealth sector, is pleased to announce that it has entered into a definitive master equipment deployment and services agreement (the “Agreement”) with Northern Pacific Global Investment Services Limited (“the Partner”) to provide telehealth services in the Republic of Nigeria.

Pursuant to the Agreement, the Company has agreed to a master deployment agreement and framework for the leasing of certain telehealth equipment and the licensing of related software including the Virtual Care Solutions Model (“VCSM”) kiosks from the Company to the Partner for monthly service fees. The VCSM is a proprietary customizable and comprehensive telehealth solution that is currently being developed by the Company and is being designed to integrate a range of physical products, web-based services, and analytical tools, along with access to the Company’s developing network of healthcare providers, pharmacies, and hospitals.

The Company and the Partner agreed to an initial equipment rollout of VCSM kiosks and minimum subscription model pursuant to the Agreement. The Partner anticipates these kiosks will be located at locations throughout the Republic of Nigeria. The Agreement provides for an initial minimum of 250,000 patient subscribers and has a value of up to approximately US$22.5 million over the Agreement’s five-year term based on the initial quantity of kiosks. The Agreement also provides for a ramp-up to service 1,000,000 patient subscribers with additional kiosks for a possible value of up to US$90 million over the Agreement’s five-year term. The delivery of initial VCSM kiosks and any ramp-up of additional kiosk locations are all subject to the commercialization of the VCSM kiosk by the Company, completion of successful site studies by both parties and other customary conditions. As at the date of this news release, the VCSM remains under development by the Company and has not generated any revenues. There is no guarantee that any service fees will be paid to UniDoc under the Agreement or that the VCSM will generate any revenues at all.

The Company also agreed to provide certain data management and telecommunications services to be used by the Partner to provide in-suite telehealth and related services in its designated facilities. The software and telecommunications services will provide the Partner with access to an authentication service and on-line portal which permits secure, live-streaming videoconferencing and transmission of diagnostic data between on-site patients physically using individual kiosks units and remote healthcare professionals accessing the portal. Medical personnel for the VCSM kiosks will be coordinated by the Partner.

The Company has agreed to install the VCSM kiosks and perform initial functionality tests at locations to be specified by the Partner. The Company has also agreed to provide to the Partner on-site training, follow-up training, troubleshooting, and certain maintenance services and supplies including hardware support, software updates, data analysis (upon request), and annual on-site testing and maintenance.

The Agreement is for an initial period of five years and automatically renews for an additional five years unless terminated upon written notice by either of the parties. The payment of service fees to UniDoc by the Partner under the Agreement commences only upon delivery of the initial VCSM kiosks by UniDoc to the Partner. A further news release will follow if initial delivery of VCSM kiosks has been successfully made by the Company to the Partner.

UniDoc CEO Antonio Baldassare notes, “UniDoc’s goal is to make health care accessible to everyone. We are excited to work with our Partner to bring our Virtual Care Solutions Model to the people of Nigeria. Our kiosks will help to allow our Partner’s network of health care professionals reach patients in remote locations throughout the country.”

On Behalf of the Board of Directors,

Sincerely,

~Antonio Baldassarre~

Antonio Baldassarre
CEO, President & Director
UniDoc Health Corp.

About UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF)

UniDoc is developing a telehealth solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician’s office. Telehealth opens the doors to a large segment of the population challenged by access, experience or understanding of online computer technology. It is the Company’s belief that physical accessibility is the key to its business proposition. UniDoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited timeframe. The UniDoc team encourages engagement, questions, and interest, so please stay in touch and invite anyone who might be interested in our story to visit our website at www.unidoctor.com and signup to receive the latest information with updates on our activities, events and progress. You are also invited to join us on social media with Facebook, Twitter or Instagram.

For further information, please contact

UniDoc Investor Relations
Tel: +1 778.383.6731
Email: info@unidoctor.com

Matt Chatterton, Director
Tel: +1 778.613.2082
Email: matt@unidoctor.com

Media Inquiries media@unidoctor.com

Forward-Looking Statements

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “will be”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s primary product offering and features thereof, the terms of the Agreement with the Partner and the products and services to be offered thereunder, the placement and location of the Company’s products across the Republic of Nigeria, the estimated initial value of the Agreement; the estimated value range of a ramp up of the Agreement, the number range of kiosks to be deployed under the Agreement, the number of patients to be serviced by the kiosks, the anticipated benefits of a partnership with the Partner, the expected delivery of initial kiosks by the Company to the Partner, additional news releases, and the Company’s commercialization and development of the VCSM telehealth platform.

Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company successfully developing and commercializing the VCSM kiosks in a timely manner; sufficient manufacturing capacity being available to produce the number of contemplated kiosks under the Agreement; current and future global supply chain issues not having a material adverse effect on the production and manufacturing of the VCSM kiosks; the Company and the Partner completing successful site studies for the VCSM kiosks in the Republic of Nigeria; the Partner having sufficient and adequate infrastructure to implement the VCSM kiosks in the Republic of Nigeria; geopolitical risks in the Republic of Nigeria not interfering with the installation and delivery of the VCSM kiosks; the Company and the Partner’s ability to secure additional financing on reasonable terms, as required; the competitive conditions of the industries in which the Company operates not increasing significantly; a continued demand for telehealth services over the duration of the Agreement; a continued working relationship between the Company and the Partner for the duration of the Agreement; and no changes to the laws applicable to the Company which would have a adverse material effect on the Company.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to successfully develop and commercialize VCSM kiosks for delivery to the Partner or develop and commercialize the VCSM at all; risks that the Company will not be able to produce or secure sufficient manufacturing capability to produce the quantity of VCSM kiosks requested by the Partner under the Agreement; risks that the site studies of the VCSM kiosk by the Partner will not be satisfactory to the Partner; risks that current and any future global supply chain issues will delay the development of the VCSM kiosks and ultimately the delivery of the VCSM kiosks to the Partner under the Agreement; risks that the Company and/or the Partner will not be able to secure required financing on reasonable terms or at all; geopolitical risks and other business risks associated with and specific to the Republic of Nigeria; risks with respect to the implementation of laws and regulations that may impose restrictions on the Company’s product offering in the Republic of Nigeria; as well as all of the other risks as described in the Company’s final prospectus dated December 2, 2021 under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

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Roberto Caon

Advisor

Mr. Caon is an elected member of the Italian Parliament. Since 2013, he has been a Member of the Italian Republic with the functions of: member of the Transport, Digitization, and Communications Commission of the Italian Parliament, member of the Bicameral Commission for Regional Affairs, and member of the Agriculture Commission. In Parliament, counted among his numerous successes, he has assisted with the implementation of various telemedicine services in the family sector. He has done this through the identification of innovative processes for patient care and the strengthening of multi-professional and multidisciplinary collaboration between different professionals. This work is now included in the proposed National Recovery and Resilience Plan, the 750 billion European plan that the member countries will use for the recovery of national economies, severely tested by the effects of the Covid-19 pandemic.

 

Prior to his current role in the Italian Parliament, Mr. Caon has spent over 30 years as an entrepreneur coordinating and designing solutions and technologies in the engineering, automotive and manufacturing sectors that are currently employed in 34 countries and used by hundreds of companies in both B2B and B2B2C environments. He held the role of owner and administrator of Giorgia Srl., a small / medium company active in the automotive and manufacturing engineering sector. He has worked extensively in the development of foreign markets for various companies in the metalworking and manufacturing sectors. He is currently a member of many trade associations linked to his extensive personal entrepreneurial background.

Austin Thornberry

Director

Mr. Thornberry is a seasoned finance professional with a background in advising start-up companies in the venture capital market. He brings extensive experience working with high-growth companies across numerous industries through his past work in the technology and innovation banking group at the Bank of Montreal and in the financial services arm of Ernst & Young advising on multiple capital markets transactions. He obtained his bachelor of commerce at McGill University and has held the CPA, CA, designation since 2019.

Matt Chatterton

DIRECTOR

Mr. Chatterton brings over 15 years of experience in development and execution of complex projects. His expertise includes project management, facility management, logistics, supply side processes and procedures at several operations in Canada and internationally. He has been involved in the public markets for the last three years managing initial public offering processes and transitioning businesses to postlisting operations. Mr. Chatterton is a professional engineer and graduate of Canada’s Queens University with a master’s degree in chemical process engineering (2003).

Sina Pirooz

Director

Mr. Pirooz is a registered and practicing pharmacist, and has been a professional member of the College of Pharmacists of British Columbia since 2003, with over 20 years of pharmaceuticals and pharmacy management experience. As owner of a compounding pharmacy, Mr. Pirooz has been dispensing pharmaceuticals for over 18 years and provides pharmacist and pharmacy management services to many of Canada’s largest pharmacy chains and drug stores. Mr. Pirooz is also the CEO and a director of Genix Pharmaceuticals Corporation, a company listed for trading on the TSXV.

Dr. Sazzad Hossain, PhD

Chief Scientific Officer

He is the former Chief Scientific Officer of InMed Pharmaceuticals Inc., a leading public Canadian bio-pharmaceutical company. Previously he worked as Senior Scientist at Biotechnology Research Institute of National Research Council Canada. Working with the Canadian government he helped establish the pharmacology laboratory to evaluate safety and efficacy of cannabinoid-based and other drugs under development for cancer, cardiovascular and ocular diseases.

Jacob Moshinsky

Chief Operating Officer

Jacob is the CEO & founder of MoviWear a GPS, fall down detection & remote vital-sign monitoring platform, alerting caregivers of real-time emergencies. Jacob is a communications and technology expert with over 15 years’ experience in the field. the NurtureWatch health monitoring Smartwatch and MoviWearMED remote vital sign monitoring platform Prior to MoviWear, Jacob worked in both the Canadian telecom and the CPG industry. He led the Product Development and Business Strategy team at TELUS for the Small Business Portfolio. Jacob also worked in various product and service management roles within Rogers Communications where he launched and managed wireless and wireline products.

Antonio Baldassarre

CEO, President and Director

Mr. Baldassarre has held senior management and director positions of new business start-ups and established multinational organizations with over 30 years of experience in the Security, Information Technology and Communications industries. With leadership skills in management of international operations, shareholder exit strategies, and overall business development, he has utilized a wide range of strategic programs to maximize organic growth into specific industry segments through OEM, alliances, and direct multi-level distribution channels. Mr. Baldassarre is able to plan, organize and direct all aspects of a Corporation from Operations, P&L oversight, product distribution, Product promotions, sales and development activities and initiatives utilizing my extensive marketing/sales senior management experience with developed abilities in team leadership and program/campaign development. Directly involved in the growth, branding and ultimately optimizing market share, product awareness, revenues, profitability and shareholder value. Mr. Baldassare is also the President of LRG Security Canada Inc. and LRG Security Europe.

Franco Staino

Chairman of the Board of Directors

Mr. Franco Staino is the Developer of the Italian National anti-counterfeiting Program for Pharmaceuticals developed in conjunction with the Ministry of Health as well as the National Certification Program for all unsold Prescription Drugs in Partnership with Pharmindustria (National association of all Pharmaceutical Manufactures) through ASSINDE.

Through one of his Companies, Carlucci are responsible for the control, labelling and collection of all pharmaceutical prescription drugs in Italy, under the PHG umbrella Franco opened first a UK division, now has also expanded into 4 African countries. Over the Years Franco has been a Board Member and Contributor on various International Committees, including the United Nations.