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Xcelerate, Inc. Signs Letter of Intent to Explore Business Relationship with HS Pharmaceuticals

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MAULDIN, S.C., May 6, 2021 /PRNewswire/ -- Xcelerate, Inc. (OTC pink sheets: XCRT) today announced it has signed a non-binding letter of intent to pursue a business combination with HS Pharmaceuticals, LLC of Greenville, SC. Over the past 14 years HS Pharmaceuticals has developed a platform of novel technologies centered around their patented and patent pending silicate particle research. Their research, in conjunction with leading universities and research facilities, has led to developments in healthcare in areas such as immunotherapy alternatives, topical therapies to combat infection and bacteria as well bone regeneration. For more information visit their website www.hspharma.com.

The LOI provides for XCRT to undertake its due diligence wherein its world-renowned team of clinicians and researchers will review HS Pharmaceuticals' operations, structure, and intellectual property. "During this process, Xcelerate, a rapidly emerging leader in assembling and developing early-stage medical technology, will determine how and in what structure HS Pharmaceuticals research and IP would fit within its business plan. The potential consolidation with HS Pharmaceuticals is further evidence that Xcelerate seeks to continue making headway in finding innovative acquisitions within the patent/engineering world. We remain focused on joining early-stage medical technology companies in a setting of controlled clinical care where these new developments can be trialed, tested and applied," said Xcelerate CEO Michael F. O'Shea.

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This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.

Media contact: Justin Baronoff 561-750-9800; justin@transmediagroup.com.

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SOURCE Xcelerate, Inc.