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TORONTO, June 4, 2020 /CNW/ - Canada House Wellness Group Inc. (CSE: CHV) ("Canada House" or the "Company"), a fully integrated medical cannabis company, is pleased to announce that it has entered into an exclusive genetic licensing agreement with InPlanta Biotechnology Inc. ("InPlanta") to bring VetStar Day™ and VetStar Night™ strains to the licensed facility of its wholly owned subsidiary, Abba Medix Corp. ("Abba"), in Pickering Ontario. InPlanta, a leading Cannabis R&D company based in Lethbridge, Alberta, will partner with Canada House and Abba on the production of a Veteran focused line of Cannabis products to be offered exclusively to registered Abba patients.
VetStar Day™ and VetStar Night™
In 2013, Dr. Darryl Hudson began assessing Cannabis varieties for their efficacy on Veterans battling PTSD. Through this research, it was observed that high THC Kush varieties with specific terpene profiles were effective for reducing the symptoms of both PTSD and pain, as well as alleviating the "hypervigilance syndrome" that is prevalent in many who have fought in recent wars. InPlanta, in collaboration with top breeders in British Columbia, enhanced these properties through traditional breeding efforts. Veterans Kush is a hybrid of B.C. Rockstar (B.C. Rockbud x Bubba) and Master Kush then backcrossed to Rockstar to obtain a specific terpene profile. InPlanta selected both low and high myrcene varieties in order to create the "Veterans Day" and "Veterans Night" lines with reduced and enhanced sedative effects, respectively. In partnership with CHV, these lines will be available for sale exclusively to patients registered with Abba. VetStar Day™ and VetStar Night™ are currently being grown in Abba's Licensed facility and are expected to be available for sale in September, 2020.
"As a company focused on the development of Cannabis varieties with maximum medicinal benefits, we are thrilled to be working alongside Chris and his team to bring these specifically designed Cannabis medications to those who need them the most," said Dr. Igor Kovalchuk, Chief Science Officer of InPlanta who has recently garnered international attention for his research on Cannabis as an application for the treatment of COVID-19. "These strains were bred and perfected over many years specifically for Veterans. Canada House's commitment to the health and wellness of its patients, specifically the Veteran community, makes them the perfect partner for us."
"We are thrilled to have secured the exclusive right to bring VetStar genetics to market. We are a Veteran focused company first and are committed to providing the highest quality genetics to our important registered patient base," said Chris Churchill-Smith, CEO, Canada House. "At Abba, we are listening to our patients and are focused on committed to taking this feedback seriously and building out a menu of the highest quality products and formats tailored specifically to the wants and needs of our patients. VetStar is simply the next step in our strategic plan of providing the leading assortment of Abba and third-party products to Abba's registered patients. To this end, we very much look forward to sharing further news on the build out of our menu over the coming weeks and months, and would like to commend Igor and Darryl for their wonderful work."
About InPlanta Biotechnology Inc.
InPlanta Biotechnology Inc. is a leading Cannabis Research & Development company based in Lethbridge, Alberta, lead by Dr. Darryl Hudson and Dr. Igor Kovalchuk who recently attracted international attention through work on Cannabis as a potential therapy in the management of COVID-19.
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 or the Company's public filings at www.sedar.com.
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 and cannabis based edibles, vapes and oils legal for recreational use on October 17, 2018 and October 17, 2019; 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: Steven Pearce, Vice-President, Legal, Canada House Wellness Group Inc., 289-980-3584, [email protected]