Helo Corp. Enters Blockchain Technology Agreement to Enable its Wearable Device Users to Control and Monetize Their Data

DUBLIN, IRELAND / ACCESSWIRE / January 11, 2023 / Helo Corp. (OTC PINK:HLOC) ("Helo" or the "Company") is a leading developer of wearable devices at the forefront of data-driven wellness and today announced that it has entered into an agreement with Vyvo Smart Chain Ltd. and VSC Tech Pte. Ltd. ("VSC Tech"). Through this agreement Helo has obtained software licenses and private keys with the intent to have its users' wearable data digitally signed, de-identified and stored on the Foundation's decentralized servers for opt-in monetization.

"The Foundation is developing a breakthrough blockchain-based decentralized health data platform designed to enable users to control and monetize their personal health data," said Sean McVeigh, Chief Executive Officer. "We believe our relationship with the Foundation will provide Helo with a unique selling proposition in today's highly competitive wearable device industry. We anticipate that it will allow Helo users to benefit financially from the monetization of their wearable data. This relationship represents a significant step forward in executing our strategic restructuring initiatives announced September 2022."

Under the terms of the agreement, entered into on January 5, 2023, Helo agreed to pay VSC Tech a negotiated fee to license software and provision Helo device private keys. In addition, the Foundation agreed to recognize and promote Helo on the Foundation's website, vyvo.org, as a Premier Foundation Sponsor for 24 months, store Helo customers' historical and ongoing wellness data and grant Helo rights to receive an allotment of VSC coins upon initial issuance by the Foundation. Helo paid a portion of its initial US$5 million purchase upon signing the agreement and the remainder will be due upon VSC Tech and the Foundation achieving specific technical milestones.

Helo's largest shareholder, Fabio Galdi, serves as Helo's chairman of the board and chief technology officer. He is also a founder, member and CEO of the Foundation and his brother Gabriele Galdi serves as a director of VSC Tech. The Foundation will cover Foundation-related expenses of Messrs. Galdi and they will be entitled to receive VSC coins, in amounts to be determined by the Foundation in the future, but will not receive salaries from the Foundation or VSC Tech.