Canada House Wellness Group Inc.
CSE : CHV
CSE : CHV.CN

Canada House Wellness Group Inc.

January 17, 2017 08:30 ET

Canada House Provides Revenue Update

TORONTO, ONTARIO--(Marketwired - Jan. 17, 2017) - Canada House Wellness Group Inc. (formerly Abba Medix Group Inc.) ("Canada House") or the ("Company") (CSE:CHV)(CSE:CHV.CN) is pleased to provide revenue information regarding the recently completed acquisition of 672800 N.B. Inc. doing business as Marijuana for Trauma ("MFT").

On November 9, 2016, Canada House completed the acquisition of both MFT and The Longevity Project Corp. ("TLP"). Canada House is pleased to provide an update regarding the revenue generated by MFT for the six-month period ending October 31, 2016.

Prior to the formal closing of the transaction, MFT had revenues of $3,281,717 for the six-month period ending October 31, 2016. Earnings before Income Tax were $336,951. This does not include revenue generated through TLP.

Consolidation of the financial statements began on November 9, 2016 when the transaction closed and the second quarter of consolidated statements will be filed and posted on SEDAR.com under the Company's profile by March 31, 2017.

Canada House executed a formal agreement to acquire MFT and TLP in June of 2016 and since then has worked to integrate the businesses under a single platform by creating efficiencies between the companies while continuing to add substantial patients to its business.

Canada House currently serves over 10,000 patients through its network. Canada House is primarily focused on the promotion of health and wellness through a multiple step approach delivered through their wellness centres and clinics across Canada. Although Canada House does not currently grow or distribute cannabis at this time, the Company provides services to assist its clients in accessing Licensed Producers (as such term is defined in the Access to Cannabis for Medical Purposes Regulations) identifying appropriate strains, and consulting and supporting clients regarding the use of medical cannabis.

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 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 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.

Contact Information

  • Boom Capital Markets
    Steve Low
    647-620-5101
    steve@boomcapitalmarkets.com

    Gerry Goldberg
    Interim Chief Executive Officer
    Canada House Wellness Group Inc.
    1-844-696-3349