Frelii Provides Update on GATC Canna Revenue Sharing Agreement
Multiple acquisitions to drive significant growth of customer base
LEHI, UT / ACCESSWIRE / February 14, 2020 / Frelii, Inc. (OTC PINK:FRLI) ("Frelii" or the "Company"), a biotechnology company working to commercialize its patent-pending DNA gene sequencing artificial intelligence technology, announced today an update regarding its previously announced revenue sharing agreement with GATC Canna Corp. ("GATC").
GATC recently announced the closing of two diverse acquisitions, detailed below, that are expected to significantly increase the Frelii customer base while generating ongoing revenue as per the terms of its revenue sharing agreement.
GATC secured a 51% controlling interest in Dvija Health Sciences Corp (DHSC). Contracted with DeckerMed, a leading Continuing Medical Education (CME) provider in North America, DHSC will create up to 25 modules for doctor training and certification in the medicine of cannabis. GATC Canna will also white label modules on the DeckerMed e-Learning Platform under the GATC Canna brand, marketing to over 100,000 medical professionals in all areas of medicine. This agreement formalizes several important revenue streams for GATC Canna; revenue from sales of DeckerMed's CME modules followed by the co-branded modules, as well as GATC Canna subscriptions paid by physicians and other medical professionals who will be introduced to GATC Canna through the CME modules.
Through a share exchange agreement GATC secured a 100% interest in Mandala MD LLC, a telemedicine group based in Quad Cities area of Iowa and Illinois that specializes in cannabis-based medicines. The transaction brings considerable medical, technical and marketing expertise to GATC Canna, and is a key component of its vertically integrated DNA-based medical cannabis platform. Mandala MD will exist as a subsidiary of GATC Canna Corp. Prior to this acquisition, Mandala MD was given a valuation of $50 million during an equity round of funding.
Frelii CEO, Ian Jenkins, stated, "In structuring our growth strategy we believed in our technology and its ability to scale through various licensing partners such as GATC Canna. With the addition of GATC's new interests and assets, we anticipate the subsequent flow-through growth across the board to surpass our previous expectations. We look forward to continuing the progression of our revenue sharing agreements in support of our commitment to building long-term shareholder value."
Frelii Inc. is a biotechnology company utilizing human DNA gene sequencing and artificial intelligence (AI) to assess more than 3.2 billion markers on the human genome. The resulting data provides valuable insight into an individual's DNA which are aligned and leveraged against its AI as a means of creating a robust data platform for use by a variety of sectors, including Health & Wellness, Healthcare, Medical Cannabis and Pharmaceutical.
Founded 35 years ago as a traditional print publishing company based in Toronto, DeckerMed has evolved into a world-class e-learning platform with a life-long learning focus. Today, DeckerMed e-Learning Platform provides over 100,000 medical professionals with over 700 programs covering 18 different specialties. DeckerMed is a trusted education partner of Harvard, Yale, Cleveland Clinic, Tenent Health, Johns Hopkins School of Medicine, HCA, McMaster and hundreds more.
About Mandala MD
Mandala MD LLC is a telemedicine group based in Quad Cities area of Iowa and Illinois that specializes in cannabis-based medicines.
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Safe Harbor Statement:
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
SOURCE: Frelii, Inc.