Cura-Can Health Corp.

Lift Resource Centre

June 01, 2017 13:26 ET

Cura-Can Health Corp. Acquires Lift Resource Centre

TORONTO, ONTARIO--(Marketwired - June 1, 2017) - Cura-Can Health Corp. ("Cura-Can" or the "Company"), a private, federally incorporated company, is pleased to announce that it has acquired 9398252 Canada Inc., operating as Lift Resource Centre ("LRC"), pursuant to a share exchange agreement under which Cura-Can issued an aggregate of 450,000 Class A shares as consideration for all of the issued and outstanding shares of LRC. LRC will operate under Cura-Can's wholly-owned subsidiary, The Clinic Network Canada Inc. ("TCNC"), to gain the economic benefits of consolidation under Cura-Can's clinic network business vertical. All of the LRC business development and operations management will be immediately integrated into TCNC's infrastructure.

TCNC and LRC carry on the business of patient education and consultations for medical cannabis under license from Lift Co. Ltd. ("Lift"). In connection with the acquisition, TCNC have entered into a new licensing agreement with Lift and have committed to expanding to at least 12 locations across five provinces by the fall of 2017.

"We're excited to continue to improve access to medical cannabis for Canadians across the country," said Matei Olaru, CEO of Lift. "This arrangement will allow TCNC to expand LRC with the support of the entire Lift ecosystem and introduce Canadians to a suite of unique and personalized services unavailable anywhere else."

Michael Steele, President and Chief Executive Officer of Cura-Can, commented, "the acquisition of LRC further enhances Cura-Can's business objective of expanding its distribution network of resource centres and virtual clinics to provide Canadians access to medicinal cannabis. This platform will also be a springboard for the launch of Cura's hemp and CBD products."

About Cura-Can

Cura-Can is a private Canadian based business focusing on the development of unique high-quality CBD medicinal products for distribution within the Canadian and approved international markets. Cura-Can is developing a unique series of distribution platforms for its SELECT house-branded CBD products through its corporately owned cannabis clinics across Canada, as well as joint ventures with various market leading medical clinic and pain management networks. Cura-Can will also be working collaboratively with licensed producers in Canada, in marketing SELECT products to the LP client population.

About Lift:

Lift (lift.co) is Canada's leading cannabis media and technology platform. Through its cross-national events, the industry's leading publications, and lift.co - the largest database of medical cannabis products, reviews and patients in Canada - Lift is the voice of Canada's cannabis industry.

The Company continues to be in the early stages of evaluating potential opportunities only, and has not entered into any preliminary or definitive form of agreement that would result in the Company entering into the hemp/cannabinoid industry as a licensed producer, nor can there be any assurance that such an agreement will be reached in the future. The Company clarifies and confirms that it is not a licensed producer and has no present intention of filing an application with Health Canada to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). Any transaction resulting in the Company's entry in the hemp/cannabinoid industry will require various approvals, including that of the Company's board of directors, shareholders and any relevant stock exchange, and none of these approvals have been sought at present. The licensing requirements of Health Canada under the ACMPR are stringent and must be complied with before any license is granted by Health Canada under the ACMPR pursuant to which the Company could produce and sell products permitted by the ACMPR, which requirements include the construction of facilities meeting specified ACMPR criteria and the Company successfully passing a site inspection by Health Canada of such facilities. These requirements can be found on Health Canada's website at http://www.hc-sc.gc.ca/dhp-mps/marihuana/index-eng.php.

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