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Toronto – June 15, 2021 (CNW) – Canada House Wellness Group (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 surpassed 900 active medical patient registrations. Abba has experienced accelerated patient growth over the past 6 months with active medical patient registrations growing by more than 50% since January 2021, from fewer than 600 to over 900 today. Over 60% of Abba patients are Veterans, a core demographic that Abba specializes in helping through the provision of top-quality cannabis products and services.
The achievement of this milestone follows Canada House’s recent acquisition of Margaree Health Group Inc. (“Margaree”) and Abba’s recent exclusively medical supply agreement with Montréal Cannabis Médical Inc.’s (“MTL Cannabis”). In addition to anticipated growth from the continuous buildout of Abba’s product portfolio, Canada House’s acquisition of Margaree has the potential to add additional growth to Abba through the migration of patients as they renew their medical documents over the next 6 to 12 months.
“We previously announced our commitment to offering a well-rounded and curated assortment of our own and third-party LP products to its medical patient base and we have followed through on this commitment. Strong growth follows the creation of a great portfolio of medical products and a commitment to superior service,” commented Chris Churchill-Smith, CEO of Canada House. “I am extremely proud of the entire Canada House team and the growth we have experienced. We will continue to add to Abba’s veteran-oriented portfolio to further fuel growth over the months and years ahead.
For further details on CHC’s acquisition of Margaree and Abba’s exclusive Agreement with MTL Cannabis, please refer to the Company’s press releases dated May 27 and June 14, 2021, available on SEDAR at www.sedar.com.
About Canada House Wellness Group
Canada House Wellness Group 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.
For further information, please contact:
Steven Pearce, Vice-President, Legal
Canada House Wellness Group
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.
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