New GLP-1 spray license, expanding rapid test portfolio, and AI-enabled digital health strategy position Safe Supply for its next phase of growth.

Have You Heard of Them and What Are They Up To?

There is a high-growth micro-cap Canadian company on the Canadian Securities Exchange (CSE) called Safe Supply Streaming Co Ltd. (CSE: SPLY, OTCB: SSPLF, FSE: QM4) (“Safe Supply” or the “Company”). The name sounds like a single-issue health and safety story, but over the last six months the business has been quietly transforming. New management has joined, the board now includes Olympic champion Donovan Bailey, former Canadian politician Tony Clement and other leaders. The strategy has pivoted toward a med-tech platform with products that can scale virally across consumer, healthcare and digital channels.

Recent Highlights

1. Exclusive Canadian license for GLP 1 spray portfolio: SPLY has secured exclusive Canada-wide rights to the Healthy Sprays LLC (“Healthy Sprays”) proprietary GLP-1 sublingual spray platform, including THIN, THIN-R and THIN-ST. This gives SPLY a protected national position in one of the fastest growing segments of metabolic health, with direct exposure to semaglutide and tirzepatide themes through a consumer-friendly format.
2. Needle-free, refrigeration-free delivery that solves real adoption frictions: Healthy Sprays uses a proprietary sublingual spray that is portable, needle-free and does not require refrigeration. This directly addresses two of the largest frictions in GLP-1 adoption, specifically the fear of injections and the inconvenience of cold chain logistics, and opens up broader distribution through pharmacies, clinics, telehealth and ecommerce.
3. Five-year license with product pipeline and operating system access: The agreement runs for an initial five-year term starting January 2026 and provides exclusive Canadian distribution rights, access to Healthy Sprays’ business model and operating systems, and participation in future formulations. This is a true platform style relationship rather than a one-off product licensing deal.
4. Attractive economic structure with operating leverage: Economics are structured with a staged upfront license fee, royalties on Canadian gross sales and minimum net sales thresholds by contract year. If Safe Supply executes on national rollout, the structure allows for material operating leverage as scale is achieved, without overburdening the balance sheet at the outset.
5. Expanding portfolio of rapid test products including drink spike tests: Alongside GLP-1, Safe Supply is building a portfolio of rapid test products that are immediately relevant at the front lines of public safety. This includes drink spike detection tests for hospitality, live events, nightclubs and campus environments, positioning the Company as a partner to venues and brands that need visible, practical safety solutions.
6. Broad test strip offering across multiple indications: The Company is working on test strips for a range of indications beyond drink spiking, including drugs of abuse and general health and wellness. This broadens the addressable market well beyond a single product and allows Safe Supply to package a menu of tests for health systems, community organizations and ecommerce.
7. Digital commerce and AI driven coaching platform under development: Safe Supply is developing ecommerce infrastructure and an AI trainer platform that can sit on top of its GLP-1 and rapid response products. The objective is to turn one time product sales into recurring digital relationships where users receive coaching, education and follow up, which can improve outcomes and unit economics over time.
8. Building an integrated health and safety ecosystem: The GLP-1 license adds to an existing suite that already includes ToxiShield drug testing kits and health and safety technologies, a Canadian distribution agreement with NIRLAB AG for handheld drug identification devices, and a United States manufacturing agreement with MDBio for ToxiShield. Taken together, this looks less like a single asset and more like a diversified health technology ecosystem.

“As a former NHL player and serial start up entrepreneur I have always been passionate about health wellness and fighting addiction in high performing individuals. I am very excited to be leading the next chapter of Safe Supply and positioning the company at the intersection of health and safety med tech and consumer health. We have done a lot of heavy lifting in my first six months as CEO and we are only just getting started." - Geoff Benic, CEO

9. Clear strategic alignment with mission and brand: Every new initiative reinforces a consistent mission focused on health, safety and rapid response tools that are easy to use. The Company is positioning itself as a practical med-tech platform that can deliver solutions consumers and institutions will actually use, rather than a speculative long dated biotechnology story.
10. Small cap entry point into a global GLP-1 and health tech growth theme: Safe Supply still trades at a micro-cap valuation on the CSE and OTCQB. Against that backdrop, it now has an exclusive national GLP-1 rights package, a pipeline of viral consumer and safety products, a growing digital strategy, and a reshaping leadership team. For investors, that combination offers levered exposure to the GLP-1 and metabolic health theme plus a health and safety ecosystem, at a valuation that does not yet reflect the transformation under way.

If the Company executes on even part of this roadmap, Safe Supply has the potential to move from an overlooked Canadian micro-cap into an established med-tech platform with multiple ways to win.

About Safe Supply Streaming Co Ltd.

Safe Supply Streaming Co Ltd. (CSE: SPLY) (FSE: QM4) (OTCQB: SSPLF) is a publicly traded company focused on advancing innovation in healthcare, wellness, and emerging technologies. Through strategic acquisitions, partnerships, and capital investments, Safe Supply is building a diversified portfolio of companies that leverage data, science, and digital platforms to improve outcomes, drive accessibility, and scale impact. Operating at the intersection of public health and technology, Safe Supply supports evidence-informed solutions to urgent societal needs. Its wholly owned subsidiaries, including Safety Strips Tech Corp. and Drug Lab 118 Ltd., develop proprietary rapid testing technologies such as fentanyl and drink-spiking detection products which are designed to improve health outcomes and enhance public wellness.

ArcStone Financial Pulse Team

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