QuestCap Acquires 49% of Athletics and Health Solutions Inc.

TORONTO, April 21, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) announced today that further to its press release of April 16, 2020, it has closed the transaction to acquired 49 per cent of the issued and outstanding shares of Athletics and Health Solutions Inc. (“A&H”). Pursuant to the agreement entered into by the Company, A&H and all of A&H’s shareholders (the “Shareholders”), QuestCap issued an aggregate of 6,000,000 of its common shares to the Shareholders in exchange for common shares of A&H totalling 49% of A&H’s issued and outstanding shares (the “Transaction”). For more information on A&H and the Transaction, please see the Company’s press release dated April 16, 2020, which is available under the Company’s profile on SEDAR at www.sedar.com and at www.TheCSE.com.

About Athletics and Health Solutions Inc.
A&H is an emerging health and wellness company working to create a comprehensive program to detect, manage and minimize the spread of viruses in large gatherings of people, specializing in the sports & entertainment industries.

A&H entered into a non-binding letter of intent (the “LOI”) on April 14, 2020 with the Division Mayor del Futbol Colombiano (“DIMAYOR”), the organization responsible for operating professional football leagues and tournaments in Colombia, to restart football activities in Colombia.

Under the terms of the LOI, A&H is to:

1. provide DIMAYOR with a team of interdisciplinary health professionals at all venues where professional football matches are to be played in Colombia;
2. provide and perform the serology tests weekly on the football players, technical personnel and people who live with them in the team camps;
3. 24 hours before each football game, administer an early diagnostic antigens/antibody test to all personnel required for the games as well as the televised transmission (players, coaching staff, referees, ball boys, law enforcement, maintenance staff, delegates, etc.). The tests shall be approved by INVIMA (the Colombian equivalent to the FDA) and the President of DIMAYOR prior to their use;
4. create a traceability application for each of the players and the coaching staff to monitor compliance with testing and quarantine measures, using a point-to-point control system, in stadiums and other locations where the Colombian football teams are confined; and
5. together with DIMAYOR and the Colombian Football Federation, create security protocols/procedures as well as formulate a schedule of the football games to be played (along with practices and ancillary events). The scheduling of the football season will take into account the length and location of quarantines for the teams, safe and controlled transportation for the teams and the determination of safe venues/cities to host games

A&H and DIMAYOR are to work together, in good faith, to enter into a binding definitive agreement to govern the implementation of the Program in Colombia (the “Definitive Agreement”).