Mednow Signs Marketing Services Agreement with Sterling Capital Brokers
- Sterling to provide preferred access to Mednow’s digital pharmacy and telehealth services to over 100,000 benefits plan members
Toronto, ON. (October 7, 2021) – Mednow Inc. (“Mednow” or the “Company”) (TSXV:MNOW), Canada’s on-demand virtual pharmacy, is pleased to announce that the Company has executed a Marketing Services Agreement with Sterling Capital Brokers Ltd. (the “Agreement”)(“Sterling”). The Agreement allows Sterling to market Mednow’s digital pharmacy and healthcare platform to its network of 100,000 plan members.
The insurance broker and financial advisor channel is one of many channels through which Mednow plans to develop its institutional services business. Through these partnerships, Mednow is creating a gateway to employers that seek to offer the best benefits to its employees, increase employee productivity and decrease the cost of benefit plans through a digital first and patient centric healthcare platform.
“This is another proud moment for Sterling. 2021 has been a year of searching out and securing partnerships with leading service providers across the country. Mednow’s offering will have a real and positive impact for policyholders and plan members who have come to expect nothing but the best from Sterling as Canada’s premium employee benefits firm,” said John Griffin, President of Sterling.
“As we build our institutional services business, we will increasingly be partnering with established and reputable brokers such as Sterling. For Sterling, marketing of Mednow’s services allows it to offer a unique digital healthcare solution to its customer base. For Mednow, Sterling can assist in accelerating the addition of benefit plan sponsors to the Mednow platform and help bring our comprehensive patient centric healthcare platform to more and more Canadians,” said Karim Nassar, CEO of Mednow.
More information on Sterling is available at Sterling Capital Brokers Ltd.
Stockhouse Investor Marketing Services
Mednow has engaged Stockhouse Publishing Ltd. (“Stockhouse”), an arm’s length party to the Company, to provide investor marketing services to the Company. Stockhouse has been engaged to heighten market and brand awareness for the Company and to broaden the Company’s reach within the investment community.
In implementing its comprehensive investor marketing program, Stockhouse will employ a number of different communication methods, including live phone calls and emails. Stockhouse has been engaged by the Company for an initial 12-month period (the “Term”), expiring on July 31, 2022. Other than an initial deposit of $15,000 being the first three months of compensation payable to Stockhouse, Stockhouse will be paid a monthly cash fee of $5,000 during the Term, being an aggregate of $60,000 over the initial 12-month period (inclusive of all costs, disbursements and the deposit), plus applicable taxes. The Company intends pay the fees associated with this arrangement out of its general working capital account.
The Company and Stockhouse act at arm’s length, and Stockhouse has no present interest, directly or indirectly, in the Company or its securities, or any right or present intent to acquire such an interest. Stockhouse has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing the services to the Company.
About Sterling Capital Brokers
Sterling Capital Brokers was founded in 2014 and is headquartered in Toronto, Ontario. SCB is one of Canada’s largest independent benefit consulting firms that specializes in servicing high-growth small-to-medium size businesses. SCB offers its clients comprehensive benefit consulting and customized plan management technology services which enables Sterling to offer rapid and bespoke solutions to its client base. SCB offers clients a single point of contact for all employee benefit queries which allows their clients to get back to growing their business faster.
About Mednow Inc.
Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual pharmacy and telemedicine services, as well as doctor home visits, with convenience and through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow’s services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, and doctor consultations.
Investor Relations Contact:
Benjamin Ferdinand, Chief Financial Officer
Marc Charbin, Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information, including statements relating to: the results of the Agreement with Sterling. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will be able to complete the launch of Mednow Virtual Care in the anticipated timeframe and the Company’s expectations regarding the results and benefits arising from Mednow Virtual Care. These forward-looking statements are 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 to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not be able to complete the transactions contemplated in this news release or in the anticipated time frames, that actual results and benefits arising from Mednow Virtual Care may not be as anticipated by management, and other risk factors set out in the Company’s final long form prospectus dated February 26, 2021 available for review on the Company’s profile at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 statements 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 statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.