- Sanitiser producer, Ovation Science Inc (CSE:OVAT) has outlined a number of growth initiatives as the COVID-19 pandemic continues to skyrocket demand for its products
- The company has purchased large amounts of raw resources, with the aim of increasing production by around 300 per cent
- In an effort to meet International demand, Ovation recently completed orders to China, the UK, Korea, Japan, Israel, Brazil, Columbia, Mexico, Kuwait and Greece
- Due to the company’s recent strong performance, Ovation has begun the OTCQB listing process, under the ticker code OVATF
- Ovation Science Inc (OVAT) is up 2.38 per cent, with shares trading for C$0.43
Sanitiser producer, Ovation Science Inc (CSE:OVAT) has outlined a number of growth initiatives given a recent surge in sales.
The company is currently in a record quarter as the ongoing COVID-19 pandemic continues to skyrocket demand for Ovation’s DermaSafe product.
If an effort to meet the current demand, Ovation Science has purchased large stocks of raw resources used in the production of sanitiser.
This included an order of 1.5 million bottles, which the company purchased in full and without the need for financing.
This will allow the company to ramp up manufacturing capacity by around 300 per cent.
Furthermore, even before heightened production commences, Ovation has C$1.3 million worth of stockpiled hand sanitiser ready to ship.
Ovation has also broadened its international customers, completing orders to China, the UK, Korea, Japan, Israel, Brazil, Columbia, Mexico, Kuwait and Greece.
Amid the surge in sales, Ovation has begun the OTCQB listing process, under the ticker code OVATF. This will be the company’s second listing in Canada, as it currently lists on the Canadian Securities Exchange.
Terry Howlett, President of Ovation, believes this is a moment of great opportunity for the company.
“For Ovation Science, 2020 will be a transformative year as we execute our revenue growth plans and continue to negotiate licensing deals and partnerships.
“We are well prepared for a strong 2020 with opportunities carrying into 2021 and beyond. The progress we are announcing today is just the foundation we are building on to accelerate the revenue and bottom-line growth of the company,” he said.
Since the year began, Ovation Science’s market value has more than doubled as demand for its products continues to grow.
Ovation Science Inc (OVAT) is up 2.38 per cent, with shares trading for C$0.43 at 10:14am EST.