London Derivatives Exchange (LDX) announcement.
April 20, 2020,
London Derivatives Exchange are pleased to announce their partnership with FoodChek Systems Inc. (FoodChek) in the launch of their Digital Security Offering (DSO).
LDX is utilising its existing market structure and methodologies, to partner with FoodChek for the launch of their DSO, which is currently in private placement with LDXA. Working with HEXTR Hong Kong (custodian) and Smarter Contracts (developing the smart contracts underpinning the Securities) through its platform and bespoke trading and settlement methods, LDX will help FoodChek bring their Digital Securities to market.
FoodChek is a leading biotech company specialising in the development, manufacturing and global commercialisation of enrichment media testing products for food safety bacterial pathogen detection and Quality Control (QC) production of human and pet food supply chains.
FoodChek’s mission is to be a leader in rapid and accurate food safety and QC production tests, using their patented IP ActeroTM ELITE Enrichment Media (“ActeroTM Media”). By using a unique delivery system, the ActeroTM EZ-Media Bag, a laboratory’s testing efficiencies, and bottom-line profits dramatically improve. FoodChek’s ActeroTM Media brand of products are sold globally in 32 countries to major food testing organisations, considerably reducing both the pathogen testing “Time to Results” by between 30% to 70% and cutting media mixing preparation time from 3 hours to 30 minutes.
That is 6-times faster than the current media mixing method!
As a result of the Coronavirus pandemic, testing requirements for “Early Detection, Early Response” have echoed globally. In response, FoodChek has directed its ISO laboratory near Montreal, Quebec, to produce the much-needed delivery system, the Covid-19 collection test kits (“C-19 Kits”). FoodChek is moving forward with several of its strategic global customers, with initial assembly production of the C-19 Kits expected shortly. Once delivery of the C-19 Kits is underway, FoodChek anticipates that other FoodChek customers, as well as various government agencies, will request the product with initial orders expected to be substantial.
Karim Peer CEO of LDXA:
“We are very grateful to FoodChek’s William (Bill) Hogan, CEO for joining the LDX methodology and allowing us to help bring this venture to fruition. We look forward to working closely with his team. We believe FoodChek’s adoption of the DSO method of fund-raising and their longer-term goals in the use of Blockchain, demonstrate the wider spread faith in the new technologies and their opportunities by such reputable firms. Food safety testing is a highly regulated industry and FoodChek’s patent protected solutions place them at the vanguard of this important sector. I want to thank Bill and his team for choosing LDX and our associate companies to partner in this project.”
William Hogan President and CEO, Director of FoodChek:
“FoodChek welcomes the opportunity to work with LDXA’s Karim Peer, CEO and his team. They recognised FoodChek’s potential upside in the food safety pathogen testing industry, and our capabilities to bring to our target market, the global testing laboratories, value-added delivery system solutions, such as our ActeroTM EZ-Media Bag and now the ActeroTM Covid-19 Collection Kit. It is the global laboratories that are the world’s front line in providing fast and reliable testing results necessary for the safety of human and animal life.”
“We are confident that LDXA will be able to financially assist us in completing our strategic closed- loop media system plan, including media manufacturing, which empowers FoodChek with full control in all aspects of our vertical integration. This component is especially important because our IP ActeroTM Media brand’s target market is at every step in the food and beverage supply chain.”
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