RESAAS and QuestCap Enter into Commercial Agreement to Sell FDA EUA COVID-19 IgG/IgM Antibody Tests

TORONTO and VANCOUVER, British Columbia, Aug. 26, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap”) (CSE:QSC; FRA:34C1), its wholly-owned subsidiary, Collection Sites LLC, and RESAAS Services Inc. (“RESAAS”) (TSX-V: RSS, OTCQB: RSASF) are pleased to confirm the companies have entered into an agreement to sell U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA) COVID-19 Rapid Tests to real estate sales professionals across the United States through RESAAS’ global real estate platform.

QuestCap and Collection Sites will work with RESAAS exclusively to sell the QuestCap’s COVID-19 IgG/IgM Antibody test kits (The Test) within North America to the real estate sector. The agreement was executed on August 24, 2020 with a one-year term. The companies will share in the revenue generated from all sales.

“Real estate agents today are challenged by the constraints the crisis at hand presents us all. RESAAS has a continued commitment to providing the real estate industry with new and innovative ways to provide their services safely,” said Tom Rossiter, CEO of RESAAS. “We are proud to secure FDA-approved COVID-19 tests through our partnership with QuestCap, enabling American real estate agents and their clients to transact real estate with new levels of confidence.”

RESAAS is an award-winning global technology platform exclusively for licensed real estate agents, REALTORS, Brokers, franchises and real estate associations. 485,000 agents are active RESAAS members, of which 90% are based in the United States.

“We are committed to getting all industries back to providing value, serving customers and doing so within a safer realm of conduct and practice,” said Doug Sommerville, CEO of QuestCap. “The real estate marketplace is the perfect industry given the multiple layers of service providers, and the number of interactions real estate professionals have with clients. RESAAS provides the optimum entry point to this vertical.”

The real estate market has not yet escaped the pandemic unscathed. Industry experts estimate that over 45% of sales activity since March 2020 has evaporated with much of the sales culture and momentum getting fragmented due to the rising concerns and difficulty to curb or control the spread of the virus. “Realtors are service-based, relationship-oriented professionals,” continues Mr. Rossiter. “People still have to list, sell and buy properties despite this pandemic. Implementing this initiative now will enable real estate agents to continue their business with unparalleled levels of safety.”