Altrova Health Partners with Reliability Funding for U.S. Expansion

Altrova Health Inc, a Canadian company expanding its health solutions portfolio, has inked an exclusive distribution deal with Reliability Funding LLC, marking a significant step into the U.S. market. The agreement, set to launch Altrova Health’s detection, protection, and wellness products across the United States, underscores the firm's strategic expansion plans.

Under the terms of the deal, Reliability Funding has been appointed as Altrova Health's exclusive sales agent and distributor. This partnership will cover all commercial channels, including retail, online, commercial, healthcare, and government accounts, with the exception of the NIRLAB SA NIRLIGHT drug analysis device, which is excluded from the arrangement. The exclusive nature of the deal will allow Reliability to drive sales, business development, and customer onboarding, while Altrova Health will retain ownership of its brands, intellectual property, and manufacturing and supply functions.

"We are excited to enter the U.S. market with the support of an experienced and capable distributor," said Geoff Benic, Chief Executive Officer of Altrova Health. "Partnering with Reliability Funding will enable us to focus on our core strengths, building and supporting our brands, while they handle the critical sales and marketing efforts."

To fund the launch and commercialization of this new distribution channel, Altrova Health is simultaneously announcing a non-brokered private placement of units, aiming to raise up to US$500,000. Each unit will consist of one common share and one common share purchase warrant. The warrants will allow the holder to acquire one additional common share at an exercise price of C$0.06 per share for a period of three years following the closing of the offering.

The private placement is part of Altrova Health's strategy to scale its commercialization efforts in the United States. The company plans to use the net proceeds to procure and stock initial inventory, onboard and activate customers, and support the launch of the U.S. distribution channel. According to Benic, the funds will also be used for approved product, training, marketing, and sales activities, as well as general corporate and working capital purposes.

"We intend to use the proceeds of the Offering to put inventory, onboarding, and sales support in place so we can convert this opportunity into commercial traction," Benic added.

Altrova Health Inc, with a growing portfolio of health solutions across detection, protection, treatment, and wellness, aims to leverage the partnership with Reliability Funding to establish a robust presence in the U.S. market. The company's current product lineup includes exclusive Canadian distribution rights for the NIRLAB SA NIRLIGHT drug analysis device, the ToxiShield fentanyl and drink-spiking detection product line, and the O-Spray product line, alongside the rapid detection strip portfolio of its subsidiary Drug Lab 118 Ltd.

With the distribution agreement, Altrova Health and Reliability Funding LLC are set to jointly drive the company's expansion into the U.S. health and safety market, aiming to capitalize on the significant potential of the American healthcare sector.