Eagle Health Holdings Limited (ASX: EHH) (“Eagle”) wishes to provide an update to its shareholders relevant to Eagle’s existing Distribution Agreement (“Agreement”) with Zoono Group Limited (ASX: ZNO) (“Zoono” or “ZNO”) for distributing Zoono’s products in China, as announced on 20th February 2020.
Zoono has today informed Eagle (verified by independent laboratory reports provided to Eagle) that Zoono’s Z-71 Microbe Shield (the same Zoono technology used in Zoono hand sanitiser) is > 99.99% effective against COVOID-19. (Refer to Zoono’s ASX Announcement dated 28th February 2020 – “Zoono Tests Successfully Against Coronavirus COVID-19).
Details of the Agreement
In accordance with the Agreement, Eagle and Zoono have a “co-branding” arrangement whereby Eagle will arrange for the bulk import of Zoono’s formulations to its wholly owned GMP certified pharmaceutical facility in Xiamen China, where Eagle will carry out the labelling, packaging and distribution into Eagle’s extensive existing channels. Under the co-branding arrangement Zoono’s formulations will carry the renowned and trusted Eagle logo, with bilingual packaging, indicating “powered by” Zoono.
Eagle will have exclusive distribution rights to the Eagle ‘co-branded’ products, as well as holding preferred partner status for Zoono branded products for offline retail sales.
Eagle has more than 300 Zhang Lao San exclusive product stores and franchised stores throughout China, with a further 271 distribution partners placing Eagle’s branded products into circa 30,000 outlets across the country.
The first shipment from Zoono (approximately 4 tonne of product) is being prepared for air-freight and transport to Eagle’s Xiamen facility and is scheduled to be despatch from Auckland later today.
Xiamen Facility Update
Eagle is awaiting the final inspection (scheduled for Tuesday 3 March 2020) of its wholly owned GMP pharmaceutical facilities by the Xiamen’s local government for its additional licenses required to facilitate the packaging and distribution of Zoono products. Eagle also confirms that its brand new and purposefully ordered high-speed automated machinery is commissioned and ready to commence production.
Approved for release by the full Board of Directors.
Release Date: 28/02/20 12:12
Summary: EHH: Eagle & Zoono Distribution Agreement – COVID-19 Results
Price Sensitive: Yes