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Thursday, August 11, 2022

Coalition Turns to Investment Community to Raise Funds for Diabetics in Ukraine

The war between Russia and Ukraine has affected widespread global markets, from commodities to tech to life science. But at its core, the conflict is impacting the lives of everyday people.

Among them are Ukraine’s more than 2.3 million diabetics. They account for 7.1 percent of the country’s population, and their medical care is being jeopardized by the ongoing combat.

“A portion of these are type 1 diabetics who rely on daily injections of insulin to stay alive — there is no sugarcoating this. If they don’t get it, they will die,” said Arlen Hansen, president of Kin Communications.

Hansen is diabetic himself, and after reading a mid-March CNN article about insulin shortages in Ukraine, he knew he needed to take action. Reaching out to his network, he brought several companies together to raise an initial C$250,000 with the aim of bringing insulin to Ukrainians in need.

The group has already brought in nearly C$60,000 and has a long-term goal of raising C$5 million.

The joint effort involves Kin Communications, along with NuGen Medical Devices (TSXV:NGMD,OTC Pink:NGMDF), Draganfly (CSE:DPRO,NASDAQ:DPRO) and Coldchain Delivery Systems, which are working together with Revived Soldiers Ukraine, a non-profit humanitarian organization.

Coldchain has sourced insulin at significantly reduced prices, while NuGen Medical Devices will provide its needle-free injection systems; both will be delivered by Revived Soldiers Ukraine via Draganfly’s medical response drones.

“Insulin needs a cold supply chain, much like COVID vaccines — it needs to be delivered quickly and at a controlled temperature,” said Hansen. “We think drone delivery is the best way to get that insulin in a very quick, efficient manner into high-conflict areas that you can’t get to with a traditional supply chain.”

This focus on logistics may prove key. CNN quotes Valentina Ocheretenko, chair of the Ukrainian Diabetes Foundation, as saying that while the country has enough insulin, with humanitarian aid bringing in more, getting it to the right places is a major problem. Patients and health facilities in conflict zones are especially vulnerable.

As the situation develops, Hansen emphasized that every dollar matters. The group’s GoFundMe page breaks down what can be achieved with different amounts of money — for example, C$17.50 provides enough insulin for one type 1 diabetic for one day, while C$520 provides roughly enough insulin for one type 1 diabetic for a month.

“This fundraising is to directly support the diabetics in Ukraine who urgently need this life-saving medicine to live,” Hansen told the Investing News Network.

In particular, he hopes to see the investment community step up. “This was an initiative that touched my heart,” he said. “A lot of people in the mining investment community have benefited from the rising metals prices, due to geopolitical tension in the world right now … my public cry to these people is to really realize how fortunate and privileged we are to not have to fight for our survival each and every day.”

Click here to visit the GoFundMe page. Revived Soldiers Ukraine can provide tax receipts for US-based corporate donations, and Hansen also hopes to partner with a Canadian charitable organization in the coming weeks to gain access to larger corporate donations in Canada.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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