RESAAS Secures 8-Minute COVID-19 Rapid Tests for Real Estate Agents

VANCOUVER, BC, July 28, 2020 /CNW/ - RESAAS Services Inc. RSS RSASF, a technology platform for the real estate industry, is pleased to announce it has secured the exclusive license to distribute the next generation of COVID-19 rapid tests to real estate agents worldwide.

• RESAAS COVID-19 Rapid Tests conclude whether COVID-19 is present in 8 minutes.
• Also concludes if the antibody is present.
• Easy-to-read finger-prick tests proven to be 98% accurate.
• RESAAS COVID-19 Rapid Tests will be sold for $50 per kit using the existing RESAAS eCommerce solution, with a fee paid to RESAAS for each unit sold.
• RESAAS Premium agents receive priority delivery on all orders.
• Distributed by RESAAS to real estate agents in 27 countries starting today.
• Awaiting U.S. Food and Drug Administration (FDA) approval for the United States.
• RESAAS has access to 1,000,000 units immediately available for sale.

"Our technology platform continues to provide real estate agents worldwide with solutions to industry challenges," said RESAAS CEO, Tom Rossiter. "RESAAS has received significant interest from global real estate companies as healthcare and industry regulations continually evolve. RESAAS remains committed to providing solutions to enable agents to safely return to face-to-face business, continually demonstrating the many benefits of RESAAS membership. In parallel to our COVID-19 testing plan already underway in the United States, our new 8-minute Rapid Test allows us to bring superior COVID-19 testing to a range of countries overseas where RESAAS already has several agents and customers."

The tests are manufactured by PCL, a publicly-traded medical company headquartered in South Korea. Health authorities have approved the 8-Minute Rapid Test in Argentina, Australia, Brazil, China, Germany, Japan, Spain, and 20 other countries.

RESAAS is awaiting approval by the FDA for direct distribution of the 8-minute Rapid Tests to agents in the United States. The application was received in April 2020 and is currently being processed.

RESAAS agents have been successfully accessing the previously announced COVID-19 testing in Los Angeles, California, backed by Abbott Diagnostic testing technology. The first month's sales results will be published next week. The next city in the United States rollout will be announced shortly.

The accuracy of the test kits has been proven by PCL's own research across four different institutions and yields 98.5% accuracy from over 2,400 individual tests.

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.

About RESAAS Services Inc.
RESAAS is a technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis.
Visit www.resaas.com for more information.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections.

SOURCE RESAAS SERVICES INC.