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TORONTO, Sept. 2, 2020 – Canada House Wellness Group Inc. (CSE: CHV) (“Canada House” or the “Company“), a fully integrated medical cannabis company, is pleased to announce that its wholly owned subsidiary, Abba Medix Corp. (“Abba“), has received authorization from the Autorité Marchés Publics (“AMP“) to contract or subcontract with public bodies in the Province of Québec. The authorization is valid for three years in accordance with the Loi sur les contrats des organismes publics (LCOP), RLRQ, c. C-65.1.
Abba and IsoCanMed Inc. (“ICM“), the Company’s wholly owned Licensed Producer based in Louiseville, Québec, have submitted all required documentation to initiate the product listing process with Société québécoise du cannabis (“SQDC“) in order to distribute ICM’s cannabis products in Québec under the terms of ICM’s existing Letter of Intent with the SQDC for potential supply of 3,000 kg of cannabis product.
Please refer to the Company’s press release of June 11, 2020 for details of the Company and ICM’s agreement with SQDC.
“I want to congratulate our teams at Abba and ICM for this achievement. One of the strategic visions for the ICM transaction was to leverage Abba’s existing sales license with ICM’s Québec grown production to accelerate distribution to the SQDC,” said Chris Churchill-Smith, CEO, Canada House. “We have enhanced our operations at Abba and ICM in anticipation of this news and look forward to seeing ICM’s Québec grown product on the shelves of the SQDC this calendar year.”
The Company also wishes to announce the departure of Mr. Michael Orrbrooke. The Company thanks Mr. Orrbrooke for his past service.
About Canada House Wellness Group Inc.
Canada House Wellness Group Inc. is the parent company of Abba Medix Corp., a Licensed Producer in Pickering, Ontario that produces high quality medical grade cannabis; IsoCanMed Inc., a Licensed Producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility employing state-of-the-art vertical, aeroponic production methodologies; Canada House Clinics Inc., with clinics across the country that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions; and Knalysis Technologies, a provider of fully customizable, cloud-based software that links physician, provider, and patient to data that supports treatment with medical cannabis.
Canada House Wellness Group’s goal is to become the leading cultivator of premium craft cannabis and provider of cannabinoid therapy, targeting the medical cannabis markets globally. Please visit www.canadahouse.ca or the Company’s public filings at www.sedar.com.
Cautionary Statement Regarding Forward-Looking Information. This press release contains forward- looking statements, including statements that relate to, among other things, the Company’s clinic, production and technology businesses, its future plans, the Company’s markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, among other things, the regulations related to cannabis use under the Access to Cannabis for Medical Purposes Regulations and the act respecting cannabis and to amend the Controlled Drugs and Substances Act, the Criminal Code and other Acts, passed by the Canadian Federal government, making cannabis and cannabis based edibles, vapes and oils legal for recreational use on October 17, 2018 and October 17, 2019; Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company’s most recent annual and interim Management’s Discussion and Analysis under “Risk and Uncertainties” as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canada House Wellness Group Inc.
For further information: Steven Pearce, Vice-President, Legal, Canada House Wellness Group Inc., 289-980-3584, [email protected]