Cantech Holding, Inc., formerly Reve Technologies, Inc. (BSSP) (the “Company” or “Cantech”) a development stage immunotherapeutic based technology company today announced it has received a Letter of Intent which proposes a business collaboration with newly formed Institute of Medicine of the conservation ZELOR S.A.P.I., located in Tijuana, B.C., Mexico.
After ongoing discussions on August 16, 2016 the Company received a letter of intent from Zelor who is involved with scientific research on biotechnology field specializing in human health. Zelor has expressed interest standing ready to discuss business collaboration and terms for processing and/or manufacturing of Cantechs spotlight product called Immune Therapeutic Protein as well as specific process and/or requirements for the Company’s objectives. Zelor describes their terms of collaboration attractive and facilities accommodating including state of the art equipment and GMP (good manufacturing practices) all around. Company management will attend the now scheduled formal meeting in Mexico early next week. The onsite visit to include to view and inspect the facilities while attending the formal negotiations for the proposed business collaboration agreement between the Company and Zelor which have been discussed to include the processing and/or manufacture for commercialization of its spotlight product utilizing Zelors facilities and utilizing its permit for Mexico.
The Company notes it will additionally pursue the completion for obtaining its own permit in progress for over eight months now but believes that the business collaboration with Zelor upon completion steps up and provides for the sooner immediate entry to the markets for initiation of the Companys spotlight product in Mexico.
Further the Company reports that it is also in negotiations to obtain licensing from a Company that has an FDA, Medicare and Medi Cal approved medical device technology for non-invasive cardio vascular testing procedures and other important medical testing applications.
The Company previously reported launching its new corporate identity as Cantech to reflect is new business strategy. The name represents the fusion of an innovative approach regarding its commitment to improving lives by helping to bring impactful immunotherapeutic treatment(s) to market initially in Mexico for cancer indication.
The Company previously reported it was in process of obtaining an assignment for a new cusip number in connection with the name change, and its submission of a corporate action with FINRA toward gaining approval regarding a new ticker symbol for the Company as soon as practicable and plans to announce any effective date for such change in a future release or current report. The corporate action included the Company changing both its name to Cantech Holding, Inc. from Reve Technologies, Inc. along with changing its corporate domicile to Wyoming from Nevada which all became effective on May 27, 2016, and provided for a voluntary symbol change requested. The Company further notes that its filings going forward on the next filing with the SEC will also track under the new name Cantech Holding, Inc. On August 5, 2016 the Company received notice from FINRA summarily that after review of the corporate action including all materials submitted, and including its periodic reports, that in accordance with FINRA rule 6490 it was deficient under said rule citing the Company being delinquent in two of its periodic reports for the period ended December 31, 2015, and for the period ended March 31, 2016. Once the filing deficiencies have been cured the Company may resubmit the corporate action which would then upon any subsequent approval allow OTC markets to finally recognize the name change that presently exists everywhere else (already effective in Wyoming and on the next filing to the SEC EDGAR database) along with providing for a new symbol to match. Noting, the Company believes it has encountered difficulties through the review period from certain potential investors that would have assisted much earlier the additional financing necessary to assist curing the delinquencies and provide additional working capital for Company operations but however required the symbol and name be processed simply to match its new business operations and Cantech name going forward for the OTC markets which the Company believes is logical.
The Company will endeavor to proceed forward with these obstacles as best possible.