TORONTO, ONTARIO–(Marketwired – Dec. 12, 2016) – Canada House Wellness Group Inc. (formerly Abba Medix Group Inc.) (“Canada House“) or the (“Company“) (CSE:CHV)(CSE:CHV.CN) is pleased to provide a further update to the recently completed acquisition of Marijuana for Trauma (“MFT“) and The Longevity Project Corp. (“TLP“), along with an update on its license application to become a “Licensed Producer” pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR“), which would, if granted, allow Canada House to cultivate and sell medical cannabis.
Since the completion of the acquisition of MFT and TLP, Canada House continues to grow and expand its business. As Canada House is currently operating in a strong cash flow positive basis, over the last 30 days, Canada House has added over 800 patients to the queue. This brings the total number of registered patients to over 10,000 for the combined Canada House business.
Canada House is also focused on pursuing its ACMPR license from Health Canada, through its wholly owned subsidiary Abba Medix Corp. Its application is currently in the “review” stage of the licensing process. Although there is no confirmation or guarantee of licensing at this stage, the proposed facility is substantially completed.
Canada House has also retained Boom Capital Markets Inc. (“Boom Capital“) as a consultant to provide investor relations services on behalf of the Company, on a three month contract which is renewable on a month to month basis. Consideration for the contract will be a monthly cash payment of $5,000 and a onetime grant of 500,000 options to purchase common shares in the capital of the Company. Boom Capital is an investor relations specialist in the micro-cap sector, with a focus on introducing Canadian companies of merit to broader institutional and retail investor audiences.
David Shpilt, Director of Clinical Services said, “In this extremely competitive market, Canada House continues to expand its patient base at a very high rate. The services we provide are unparalleled in the market which is why patients come to us first.” Mr. Shpilt continued, “The addition of Boom Capital to the Investor Relations team, with its proven track record will assist in getting our unique story out to the market place and we look forward to working closely to broaden our scope in the market as we continue to execute on our plan.”
Canada House is primarily focused on the promotion of health and wellness through a multiple step approach delivered through its wellness centres and clinics across Canada. Although Canada House does not currently grow or distribute medical cannabis, the Company provides services to assist clients in accessing a Licensed Producer, identifying appropriate strains, and consulting and supporting clients regarding the use of medical cannabis.
About Boom Capital Markets Inc.
Headed by Steven Low, Boom Capital Markets brings a broad distribution of institutional/retail investor relationships across a variety of sectors (technology, renewables, resources) located across Canada, the US and Europe. As a former institutional equity trader and salesperson, Steven has developed and maintains these key relationships, which enables companies to leverage the network and attract the necessary capital they require when executing their business plan. For more information, please visit www.boomcapitalmarkets.com.
Canada House Wellness Inc.
Canada House is the parent company of MFT, TLP, and Abba Medix Corp. The Company’s goal is to become a marketplace leader through strategic partnerships, mergers, and acquisitions to create a fully integrated medical cannabis marketplace. For more information please visit www.abbamedix.com, www.mftgroup.ca and www.plantsnotpills.ca.
Cautionary Statements Regarding Forward-Looking Information
Certain statements within this press release relating to the Company constitute “forward-looking statements”, within the meaning of applicable securities laws, including without limitation, statements regarding future estimates, business plans and/or objectives, sales programs, forecasts and projections, assumptions, expectations, and/or beliefs of future performance, are “forward-looking statements”. Such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to regulatory changes, timeliness of government approvals for the granting of permits and licenses, changes in medical cannabis prices, actual operating performance of facilities, competition and other risks affecting the Company in particular and the medical cannabis industry generally. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless 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.
Canada House Wellness Group Inc.
Interim Chief Executive Officer