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MONTRÉAL, May 9, 2023 /CNW/ - Canada House Cannabis Group (CSE: CHV) ("Canada House" or the "Company"), a fully integrated medical cannabis company today announced the departure of its Chief Executive Officer, Mr. Chris Churchill-Smith. The Company has appointed Mr. Alex Kroon, currently President of Medical of the Company, as Interim Chief Executive Officer.
"On behalf of the Board, we wish to extend our sincere gratitude to Chris for his excellent service and dedication to Canada House and its stakeholders for over five years. Amidst very challenging market conditions, Chris was instrumental in building a fundamentally sound business that in its most recent quarter achieved cash flow positive results," commented Dennis Moir, Chairman of the Board of Directors of Canada House. "Chris also played a critical role in bringing forward the transformative transaction with MTL Cannabis. Chris is a very talented executive, people leader and business strategist and we wish him the very best."
Canada House Cannabis Group is a 24.99% shareholder of MTL Cannabis and is the parent company of Abba Medix Corp., a Licensed Producer in Pickering, Ontario that that operates a leading medical cannabis marketplace; IsoCanMed Inc., a Licensed Producer in Louiseville, Québec growing best-inclass indoor cannabis, in its 64,000 sq. ft. production facility; 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 Cannabis Group's goal is to become the leading cultivator of premium craft cannabis and medical cannabis clinic and product solutions. Please visit www.canadahouse.ca or the Company's public filings at www.sedar.com.
Cautionary Statement Regarding Forward-Looking Information. 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 closing of the transaction with Montreal Cannabis and the receipt of all necessary regulatory and shareholder approvals associated therewith, 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.
Steven Pearce, Vice-President, Legal, Canada House Cannabis Group, 289-980-3584, [email protected]
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