TORONTO, ONTARIO--(Marketwired - Jan. 10, 2017) - Canada House Wellness Group Inc. ("Canada House") or the ("Company") (CSE:CHV)(CSE:CHV.CN) is pleased to provide an update on its current marketing strategy. In light of the release of the Final Report of the Task Force on Cannabis Legalization and Regulation (the "Report"), Canada House's management team has secured a supply partnership with an industry leading Licensed Producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR").
The Report provides recommendations that the non-medical cannabis market be built on existing quality control and consumer protection offered by existing Licensed Producers. Canada House views the recommendations of the Report favourably, as management believes the Company is well positioned to take advantage of potential future non-medical market opportunities stemming from the Report.
Canada House's supply partnership will provide the Company with its own medical cannabis brand. The deal will allow the Licensed Producer to ship Canada House branded cannabis in Canada to registered patients under the ACMPR.
Canada House continues to develop an iconic brand with a strong narrative which management believes will continue to thrive and engender brand loyalty in the non-medical market where management anticipates that marketing and advertising parameters will become more restrictive than the current medical regime. Canada House medical products are held to the highest standard for Veterans, developed with the help of physicians who have also served in the Canadian Armed Forces. The Canada House cannabis brand has been designed for both the Veteran and Non-Veteran population for the medical treatment of PTSD, chronic pain, sleep disorders and many other health conditions.
The Company continues to pursue licensing under the ACMPR for its proposed facility in Pickering, Ontario. The facility is substantially completed and will be ready to commence operations upon obtaining a license from Health Canada.
Canada House is also pleased to announce that it has settled certain outstanding debts by the issuance of 363,833 common shares of the Company at a weighted average price of $0.61 per common share. These common shares will be subject to a 4 month trading restriction where applicable. Management expects the settlement of such debts to improve the Company's working capital and liquidity ratios.
Canada House Wellness Inc.
Canada House is the parent company of Marijuana for Trauma, The Longevity Project Corp., 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 marijuana 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 the anticipated effects of the Report, legislative and regulatory changes, timeliness of government approvals for the granting of permits and licenses, changes in medical marijuana 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.