Press release from Companies

Publicerat: 2019-11-04 21:24:29

QuickCool AB: More from the Company Monthly Newsletter October 2019

During the month of October we have continued our development and documentation work. The negotiations regarding the financing has continued and the Board of directors proposes a restructuring of the operations to provide financing. Landskrona Tekniska Förening visited our office and we have prepared ourselves for the annual visit from our Notified Body, TÜV Süd, and their review of our Quality Management System (QMS).  

The Board of directors proposes that the existing QuickCool company be transformed into a holding structure to invest in cannabis and other alternative medical markets as well as to, in a separate new subsidiary, continue to develop QuickCool® SYSTEM. The change provides a financing solution for acquisitions in medical cannabis, as well as for the development of QuickCool® SYSTEM.

The company has received a Term-Sheet containing the main content of a financing agreement from European High Growth Opportunities Securitization Fund ("EHGO"). The financing solution suggests that, during a 36-month period, the company can obtain a total capital contribution of 600 MSEK.

The funding is estimated to provide QuickCool with capital over the next three (3) years in order to be able to execute the implementation of both the new business direction, related to investments in the market for the medical use of cannabis and other alternative treatment methods, as well as the continuous activities to achieve the CE-mark for the QuickCool® SYSTEM.

CBD oil is typically produced from the cannabis plant Cannabis Sativa, also known as "Industrial hemp". Cannabidiol (CBD) does not have any psychoactive effects compared to THC. When extracting the CBD oil, the substance CBD is concentrated. The most common way to dispense CBD oil is to drip a few drops under the tongue. Scientific studies indicate many health benefits of the CBD.

The Board considers that the new business is a unique investment opportunity for current and future shareholders in QuickCool, as there are few diversified investment platforms on the market for cannabis for medical use on the European securities exchanges.

Landskrona Tekniska Förening visited us one afternoon and we took the opportunity to talk more about our technical solution and how one treats patients who have suffered from cardiac arrest with hypothermia and more specifically how one may apply our unique cooling solution.

Our notified body, TÜV Süd, conducts their annual audit of our Quality Management System the first few days of November in accordance with ISO 13485:2016. Some preparations have been made and we are looking forward to a successful inspection and review of our quality management system.

Follow us on LinkedIn. Additional information about QuickCool and our solution may be found on our homepage: http://www.quickcool.se/en/home.html

Kind regards,

Fredrik Radencrantz

QuickCool AB 
Ideon Science Park
Beta 6, Scheelevägen 17 - SE-223 70 Lund - Sweden

E-mail: fredrik.radencrantz@quickcool.se Web: www.quickcool.se
Mobile +46 (0)73 834 1188

QuickCool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the QuickCool® SYSTEM. QuickCool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. QuickCool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se 

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