Canada House Wellness Group Announces First Harvest from its Licensed Facility
May 24 2019 - 7:42AM
Canada House Wellness Group Inc. (CSE: CHV) (“
Canada
House” or the “
Company”), a fully
integrated medical cannabis company, is pleased to announce that
its wholly owned Licensed Producer of pharmaceutical grade
cannabis, Abba Medix Corp. (“
Abba”), has completed
its first commercial scale harvest in its 22,000 sq. ft. production
facility, marking an important execution milestone in the Company’s
continuous path to profitability.
Abba commenced full scale operations of its
indoor controlled grow facility in early February with plants moved
into the facility on a commercial scale at that time. The first
plants have now been harvested and are currently drying. The
Company looks forward to bringing its product to market while
continuing to ramp up to perpetual production, totalling between
2,000-3,000 kg of dried flower on an annualized basis.
“Completing our first harvest is a major
milestone for Canada House and a true reflection of the dedication
and competency of our team at Abba,” commented Canada House’s CEO
Chris Churchill-Smith. “Execution is at the core of Canada
House’s focus as we continue to drive shareholder value and bring
high quality, craft cannabis to the medical community throughout
Canada and abroad.”
“We are continuing to execute on our strategic
plan which includes obtaining perpetual production in the facility
and bringing EU-GMP compliant product to market in the short
term. This is an exciting next step towards our goal of
delivering consistent high-quality craft cannabis to medical
patients across Canada and then to the European Union. I
applaud the Abba Medix Team on achieving its first harvest of many
to come,” added Michael Orrbrooke, Canada House’s Chief Revenue
Officer.
Canada House Wellness Group
Inc.
Canada House is the parent company of Abba Medix
Corp, Canada House Clinics Inc. and Knalysis Technologies.
The Company's mission is to become the leading cultivator of
premium craft cannabis and provider of cannabinoid therapy,
targeting the medical cannabis markets globally. For more
information please visit www.canadahouse.ca or www.sedar.com.
For further information, please
contact:
Boom Capital Markets Steve Low 647-620-5101
steve@boomcapitalmarkets.com
Canada House Wellness Group Inc. Chris Churchill-Smith, CEO
514-313-0102 chris.smith@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.
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