MAR 18 - HVL.A ASE - Heritage completes ROST research program
Heritage Ventures Ltd HVL.A
Shares issued 19,189,960 Mar 16 close $0.12
Thu 18 Mar 99 News Release
Mr. Chris Agagnier reports
The company has completed the research program which began in May 1996 with
leading microbiologists Dr. Don Woods and Dr. Richard Moore at the
University of Calgary, who are developing a portable test kit for assessing
microbial contamination of water in 70 minutes.
The ROST (rapid on-site testing) kit will be useful for water testing in
any remote situation where laboratory facilities are not available and time
is of the essence. Normal laboratory testing takes from three to seven
days.
The ROST kit will be applied in many different fields, such as health care,
disaster services, recreation, water well testing, work camps, travellers
and tourists, military, third world areas, household drinking water and
surface water testing.
It is expected that an affordable price point will be established that will
appeal to tourists and business travellers who are concerned about drinking
water contamination as well as families who have been affected by boil
water orders on their home water supply.
A manufacturing facility exists in Eastern Canada that could complete the
assembly and packaging of the product. Some subassemblies are expected to
be sourced from outside of the country. It is the company's preference to
develop and manufacture the water related product from a Canadian base as
the Canadian dollar's low value allows for an international trade
advantage. It will also allow better control over the assembly process and
the international market assumes Canada is synonymous with pure clean
water, thus generating a marketing advantage.
It is also important to note that the Canadian government has a program to
guarantee payment of international trade accounts.
Based on the large volume market, it is expected that the product sales
volume will be exceptionally high. Continuing improvements and price
reductions are likely to maintain sales volumes over the years.
The accuracy and sensitivity of the ROST kit is equivalent to American
Public Health Association microbiology tests (bacteriological fecal
coliform and total coliform tests). As well, the ROST kit will be
economical, portable, small, lightweight and can be carried along with the
normal traveller's luggage. It uses stable robust reagents and will require
a lower input (110 volt plug-in or battery power supply).
The product has reached a point where reagents and assay procedures have
been optimized. Reagent packaging design, prototype housings and low-cost
luminometer design are yet to be developed. Patent applications are in
process.
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