TORONTO, June 17, 2019 /CNW/ - Alternate Health Corp., ("Alternate Health" or the "Company") (CSE:AHG) (OTCQB:AHGIF), an international leader in hemp-derived CBD extraction, product development and distribution, announced today that the Company would like to provide an update on a financing facility agreement previously announced last Friday.
On June 17, 2018, Alternate Health issued a press release announcing that the Company had reached an agreement with Alpha Blue Ocean for a $5 million financing facility. Alternate Health expects the first tranche, as outlined in the agreement, to close within the next 10 business days. Further information on the financing terms can be found in the subscription agreement posted today on SEDAR.
About Alternate Health
Alternate Health (CSE: AHG, OTCQB: AHGIF) is an international leader in the CBD industry, including extraction, product development and distribution. Alternate Health recently announced that it is acquiring Blaine Labs Inc., a Company that is a leader in cGMP medical product manufacturing and distribution, with over 50 product SKUs available from major retailers, including Walmart, Amazon, CVS and Walgreens. Alternate Health's industry-leading software systems provide the platform for the Company's diverse operations, including CBD product distribution, hemp-derived extract manufacturing, blockchain tax collection systems and electronic medical records (EMR) platforms. Alternate Health's corporate office is located in Toronto, Canada, with additional offices in Venice, California, and San Antonio, Texas. The Company is well positioned to reinvest internal operating cash flow in its platform and product development over the long term, creating an attractive investment profile for its shareholders. For more information about Alternate Health Corp., visit www.alternatehealth.com.
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. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects", "plans", and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's intended use of the funds from the financing, and future operations, business prospects, anticipated growth and potential revenues are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. The Company has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the likelihood of the Company completing its acquisition of Blaine Labs Inc., the prospects for development of the Company's products and the Company's ability to generate cash flows. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such acquisitions, product development, or cash flow generation to be materially different from those expressed or implied by such forward-looking information statements including, without limitation, whether such acquisition or product development will be completed and generate commercially viable cash flows, the need for additional funding to continue development efforts, and changes in general economic, market and business conditions.
SOURCE Alternate Health Corp.
For further information: Investor Contacts: Jim Griffiths | Investor Relations; Jim Tykoliz | Company Director, 1.416.607.5757