Moseda Technologies Inc.
TSX VENTURE : MSD

Moseda Technologies Inc.

February 09, 2016 08:00 ET

Moseda Announces Acquisition of CareKit Health

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 9, 2016) - Moseda Technologies Inc. (TSX VENTURE:MSD) ("Moseda" or the "Company"), a technology company focused on developing progressive mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, is pleased to announce that it has acquired CareKit Health Corporation ("CareKit"), a commercial stage healthcare technology company that has built a comprehensive hardware and software platform that allows complex patients to receive high quality care in the home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. CareKit's platform for care coordination and home healthcare integrates wearables, sensors, a proprietary voice technology hub and intuitive mobile apps and desktop user interfaces for patients, clinicians and healthcare administrators. For more information please visit: www.carekithealth.com.

"We are excited to be bringing CareKit Health's technology, products and customer pipeline into Moseda," said Dr. Lisa Crossley, CEO of Moseda. "CareKit's focus on using technology to provide cost effective, high quality in-home healthcare fits perfectly with Moseda's strategic focus on the Community Care market, which is expected to reach $43 Billion globally by 2019."

"CareKit Health is a young company but we have already secured contracts in the US, Canada and the UK," said Mr. Giancarlo De Lio, CEO of CareKit Health. "Joining Moseda will give us the ability to rapidly increase our global presence and we are excited about the increased value our combined technology portfolios and talent will provide to our customers."

Moseda has acquired CareKit Health by way of purchasing all of the shares of CareKit and has issued to the CareKit shareholders a total of 600,000 Moseda shares and 9,400,000 Moseda performance warrants at a deemed price of $0.20 per share with an exercise term of 3 years. The Moseda shares will be released to the CareKit shareholders in 18 months. The Moseda warrants will vest upon CareKit's completion of certain performance conditions with a limited vesting term of 2 years. The Moseda warrants may be exercised in accordance with an agreed upon exercise schedule.

As a part of the acquisition, Mr. Giancarlo De Lio, BSc, MBA has been appointed Chief Visionary Officer at Moseda and Mr. Leo Godreault, RN has been appointed Vice President, Products. Furthermore, Mr. Sameet Kanade has resigned as a director and officer of the Company.

ON BEHALF OF THE BOARD

Dr. Lisa Crossley, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".

We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.

Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Moseda Technologies Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.

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