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TORONTO, Sept. 3, 2019 /CNW/ - Canada House Wellness Group Inc. (CSE: CHV) ("Canada House" or the "Company"), announced today that its wholly owned subsidiary, Abba Medix Corp. ("Abba"), has secured its amended sales license from Health Canada which allows for the sale of its own cannabis directly to patients and consumers.
With this amendment, Abba plans to sell cannabis, including its own Abba Medix brand, in dried flower format, directly to registered medical patients and authorized provincial/territorial distributors and retailers across Canada. Abba can start legally selling its own branded dry flower on September 18, 2019, after its 60-day Notice of Intent to Sell expires. Patients can pre-register on the Abba website (www.abbamedix.com).
Abba's 22,000 sq. ft. indoor production facility in Pickering, Ontario, has dried flower packaged and ready for sale.
"This is a great day for the Canada House team. Our focus this year has been on our Path to Profitability and this was an important step. With our sales license amendment, Abba is ready to take the next step as a Licensed Producer," said Michael Orrbrooke, Chief Revenue Office, Canada House and President, Abba Medix.
Abba will continue to ramp up production towards its goal of between 2,000 and 3,000 kg of dried flower on an annualized basis at its Pickering, Ontario facility. It is now in full perpetual grow with regular harvests every three weeks.
"We are thrilled to have achieved this important milestone" said Chris Churchill-Smith, CEO, Canada House. "Selling our own cannabis to patients and consumers and continuing to pursue further license amendments for oils and other product formats is a key inflection point for us. We continue to grow, and we are excited."
About Canada House Wellness Group Inc.
Canada House Wellness Group Inc. is the parent company of Abba Medix Corp., a Licensed Producer in Pickering, Ontario that produces high quality medical grade cannabis; 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.
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 legal for recreational use by October 17, 2018; 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.
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.
SOURCE Canada House Wellness Group Inc.
For further information: Liana Del Medico, Director of Communications & Investor Relations, Canada House Wellness Group Inc., 289-980-3584, [email protected]