Goodbody Health Confirms Strong 2021 Revenue Continuing into 2022

VANCOUVER, BC / ACCESSWIRE / March 10, 2022 / Goodbody Health Inc. (CSE:GDBY) (OTCQB:GDBYF) (“Goodbody Health” or the “Company“) is pleased to announce that, the unaudited revenue figures for the year ended 31 December 2021 confirm they are expected to be around C$29m which is over 8 times 2020. Even with the expected drop off from PCR testing in 2022, the Company generated revenue, in the first two months of 2022 to the end of February, of over C$6m showing that Q1 is still performing well.

The management team are rolling out blood testing and other services through the existing Goodbody clinic network and also opening up new clinics to mitigate the fall in COVID testing revenue. As at today, over 180 Goodbody Clinics and partner clinics are in operation or in progress of being opened, most of which can now offer blood testing. Goodbody Clinics have today carried out over 150,000 PCR tests as well as the increasing full range of other tests including blood testing from finger prick or blood draws, saliva tests and many more. offering a robust choice that help our customers ‘know more, live better.’ As at today we can now offer 34 different tests and this number will increase over the next few months.

At the same time the Group continues to ensure it is in the best position to increase CBD sales once the Novel Food registration process completes. Its CBD isolate and distillate produced in Poland and tested at every step, lead the field in Europe for quality, while Phytovista Laboratory with its more accurate, accredited test confirms the Group as leading the way in the sector as compliance requirements increase.

The group expects to see a dip in revenue in the first half of 2022 before it climbs back to previous strong levels in the latter part of the year and expects to close the year with a solid profitable position.

Geremy Thomas, Executive Chairman, said: “I am pleased that the strategy we have set ourselves is progressing well to secure the future position of the Company in the Health and Wellness sector and help everyone feel in control of their own health.”

The Directors of the Company accept responsibility for the contents of this announcement.

On behalf of the Board of Directors,

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release. This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Goodbody Health’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes” “plan is” or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur”, “will be achieved” or “shortly”. The forward-looking information and forward-looking statements contained herein include, but are not limited to: the unaudited revenue figures for the year ended 31 December 2021 are expected to be around C$29m; an increase in CBD sales revenue subject to the Novel Food registration process completing; the expectation of revenue falling during H1 2022 before rising and the expectation of a close to the year of a solid profitable position.

Although Goodbody Health believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. This is due to the fact the group audits are yet to be concluded and the forecast position is based on assumptions about the sector, NHS provisioning, the economic environment and the comparative competitor services and other future health factors as well as the reliance on the growth of the partner clinic network and their ability to deliver the services as planned.

Goodbody Health does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws

SOURCE: Goodbody Health Inc.

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