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Toronto – February 10, 2020 (CNW) – Canada House Wellness Group Inc. (CSE: CHV) (“Canada House” or the “Company”), is pleased to announce that its wholly owned subsidiary, Abba Medix Corp. (“Abba”), has entered into a supply agreement with Alberta Gaming, Liquor and Cannabis (“AGLC”) for the supply of branded cannabis products to the adult-use market in the Province of Alberta. Under the supply agreement, Abba will initially offer recreational use products in 3.5-gram dried flower and 0.5-gram pre-rolled formats. Abba continues to be engaged in advanced discussions with other provincial cannabis distribution branches as it executes its domestic distribution strategy.
“We are delighted to announce our relationship with AGLC and look forward to selling our trusted, medical-grade cannabis strains to Alberta recreational consumers,” said Chris Churchill-Smith, Chief Executive Officer of Canada House. “This supply agreement is a significant milestone on Canada House’s Path to Profitability. We will continue to pursue additional provincial supply agreements with targeted provinces at optimal price points, building on Abba’s European export strategy and existing revenue from our broad medical patient base.”
“This milestone is a testament to the hard work, dedication, and commitment of all Abba employees to growing and sourcing top-notch cannabis that is sought after in the medical and recreational markets,” added Michael Orrbrooke, President of Abba and the Chief Revenue Officer of Canada House. “Our products have received great reviews from our medical patient base, and we are excited to share these products with Alberta recreational consumers.”
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; 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.
Canada House Wellness Group Inc.
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 legal for recreational use by October 17, 2018; 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.
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