Jolt Health Inc. Terminates Acquisition Agreement and Shifts Focus to AI Opportunities

VANCOUVER, BC / ACCESSWIRE / June 10, 2024 / Jolt Health Inc. ("JOLT" or "the Company") (CSE:JOLT)(FSE:G1Q0) announces that it has terminated its previously announced agreement to acquire the intellectual property for transdermal delivery technology for chloroquine and hydroxychloroquine. The decision to discontinue this acquisition was made after careful consideration of the company's strategic direction and priorities.

Jolt Health remains committed to exploring and pursuing opportunities within the rapidly growing artificial intelligence (AI) sector. The company believes that leveraging AI technology will provide significant value and innovation in healthcare and biotechnology, aligning with Jolt's mission to transform the industry through cutting-edge solutions.

Gerald Tritt, CEO of Jolt stated: "We appreciate the efforts and insights of all parties involved in the initial agreement. Our focus is now on identifying and engaging in opportunities that harness the power of AI to enhance our health and wellness portfolio. Additionally, we are encouraged by the recent cuts in domestic and global interest rates, which we believe are the first signs in bolstering the economy and capital markets, supporting our growth initiatives and delivering value to our shareholders."

Jolt Health continues to hold exclusive licenses for innovative therapeutic and pharmaceutical products throughout Europe, the UK, and North America. The company remains dedicated to advancing healthcare through research, collaboration, and technological advancements.

For further information, please contact:

Gerald Tritt, CEO
Investor Relations
Telephone: 1 (604) 343-2977
E-mail: info@jolt-health.com
www.jolt-health.com

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

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures, strategic alliances and co-operations, budgets, costs, and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may", or "believes", or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might", or "will" be taken, occur, or be achieved. A number of known and unknown risks, uncertainties, and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition, and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange-traded funds, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Jolt Health Inc.