TORONTO, ONTARIO--(Marketwired - Nov. 28, 2016) - Canada House Wellness Group Inc.'s (formerly Abba Medix Group Inc.) ("Canada House") or the ("Company") (CSE:CHV), unique competitive advantages strongly position the Company, to be revenue generating, continuing to grow its business, despite Veterans Affairs Canada's ("VAC") proposed short- and long-term changes to its Medical Marijuana reimbursement policies. The Company's infrastructure, including its clinics and wellness centres, supports growing numbers of Veterans who wish to access medical cannabis and complementary health care products and services.
"We thank the government for its continuing coverage of medical marijuana. However, as a result of VAC's announcement, some challenges have been presented to many considerably injured patients," said David Shpilt, the Director of Clinical Services for Canada House. "Thousands of Canadian Veterans who have served and protected their country have successfully eliminated or drastically reduced their use of opioids and other harmful prescription medication. Cannabis therapy has been their replacement under the guidance of an overseeing physician, and across almost the entire patient population no side effects or adverse reactions have been experienced. Throughout the medical monitoring process, a dramatic improvement in these patients' quality of life is observed on a continued basis."
In response to VAC's forthcoming changes limiting amounts that Veterans are initially qualified for, Canada House, through its clinical division and partners, is developing a critical care pathway for those involuntary left in a high-risk position. These programs will provide referrals to medical specialists, who will consider Veteran patient's eligibility and may, if medically qualified, re-establish them to their previously authorized prescription level.
"Today more than ever before, Veteran patients are looking to Canada House for cannabis therapy solutions and guidance as a Veterans First organization," said Fabian Henry, co-founder of Marijuana For Trauma, a wholly owned subsidiary of Canada House.
One of the Company's mandates is that cannabis therapy must be supported with ancillary products and services to provide a totally integrated and coordinated health approach to treatment and health. Canada House has developed an inter-disciplinary and customized program that will offer a diverse line of health products specific for Veterans and first responders to promote their overall well-being.
In addition, Canada House medical products are held to the highest standards for Veterans, developed with the help of physicians who have also served in the Canadian Armed Forces, offering a unique understanding of Veterans' needs. Canada House will begin provision of its medical line to a large focus group of Veteran patients beginning December 1, 2016, with an aim of deploying its full market strategy in January 2017. Our targeted line of medical products will allow Canada House to help an even greater number of Veterans live healthy lives.
Canada House wellness and medical products appeal to a base of over 600,000 Veterans in Canada*. There are currently under 3,500 Veterans using cannabis as therapy, and while this number continues to grow, a conservative factor of 10 times as many patients are immediately eligible for therapies, products and services that are non-cannabinoid in nature. Therefore, a much larger target market of Veterans is accessible by broadening offerings beyond cannabis therapy. By introducing these new sales channels, Canada House hopes to increase the number of patients that it services, its revenue per patient and its overall revenue.
Pursuing its aggressive expansion plans to support its core model of cannabis therapy, Canada House is ready to open two more wellness centres in the coming months. Winnipeg and Ottawa will launch in December and January respectively.
Medically eligible Veterans continue to be the only group in the country with full benefit coverage for cannabinoid therapy. They remain a high-value group in the marketplace, which Canada House is proud to service. Each wellness centre provides Veterans education, resources and services to assist them in accessing cannabis therapy. Month over month revenue is expected to increase with more Veterans joining the Canada House community, where assistance, medical management, peer and social support, and a safe haven are available.
Canada House Wellness Group's vision is to ensure that all of its Veterans are living, not just existing.
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 regulatory changes, timeliness of government approvals for the granting of permits and licenses, including the ability to open new wellness centers and launch new product lines, changes in medical marijuana prices, actual operating performance of facilities, competition and other risks affecting the Company in particular and the medical marijuana 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.