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TORONTO and QUÉBEC CITY, June 7, 2021 /CNW/ - Canada House Wellness Group (CSE: CHV) ("Canada House" or the "Company"), a fully integrated medical cannabis company, and Groupe Fuga Inc. ("Fuga") are pleased to announce that they have entered into a product acquisition agreement (the "Agreement"). Under the terms of the Agreement, Canada House's wholly owned subsidiary, Abba Medix Corp. ("Abba"), will distribute Fuga's first product: Tropicanna Cookies – a strain with unique properties crafted in accordance with the industry's highest standards – to its medical patient base and through its existing recreational sales channels.
Fuga is a medical and recreational cannabis grower located in Stoneham, Québec that has set out to handcraft superior quality cannabis and has succeeded by adhering to the human approach that defines the company: cultivation in small batches in living soil by a dedicated team. Abba specializes in providing high quality medical grade cannabis for patients seeking cannabinoid therapy solutions and currently offers strains developed specifically for armed forces veterans with PTSD exclusively to its patient base. Abba is pleased to add Tropicanna Cookies to its product offering for immediate availability to medical patients Canada-wide and will soon make this product available for recreational users as well.
Canada House also announces that its registered office has changed to 551 Rue Saint-Marc, Louiseville, Québec, J5V 2L4, Canada.
"We were driven by a very clear vision right from when we first embarked on this adventure: that of growing cannabis with care, in small batches, so we could satisfy the most demanding consumers, and in the process, also introduce a more human approach within the industry and a sense of community," explains Philippe Laperrière, Founding CEO of Fuga.
"Fuga cannabis stems from the work of entrepreneurs committed to providing Canadians with a product of truly superior quality, grown in a methodical, judicious, inventive manner, and capable of rivaling even the biggest brands. Today, Fuga and Abba Medix are joining forces to render this exceptional product available to people with health issues unable to find better relief in prescription medication," adds Chris Churchill-Smith, CEO of Canada House.
Superior Grade Cannabis
What sets Tropicanna Cookies apart is its high concentration of terpenes, Fuga's chief focus. Developed by legendary cannabis breeder Oni Seeds from the parentage of Tangie and Girl Scout Cookies, this strain won the IC420 Growers Cup in 2019. With its shiny purple buds and packing a pungent aroma, Tropicanna Cookies will wow the most sophisticated connoisseurs and novice users alike. Energizing and stimulating, it delivers a reinvigorating effect that's pure tonic.
From the start, Fuga promised to cultivate cannabis like no other, and to do it sustainably, by tapping into the passion of the team and nurturing customer satisfaction. Which is why Fuga chooses to harvest its plants in small batches, to sort and cut them by hand, and to ripen them over several weeks to obtain the finest product.
Fuga is Committed to Doing Good
The story that sparked the advent of Fuga is at the very core of the values that drive the company.
Philippe Laperrière suffered a severe head injury from a serious mountain biking accident. Unable to work due to the effects of the injury, he discovered that hockey players and other sport athletes use cannabis products to treat the most persistent concussion symptoms. "I was never a user, so the idea never crossed my mind before. The sale of cannabis had just been legalized, so I tried it. My symptoms totally disappeared."
That's when the idea of starting a business in this industry that would benefit both users and workers began to emerge.
Fuga (which is Latin for "flight") took off shortly thereafter. "But it was imperative that the values Fuga projected not be empty slogans," continues the company's founder and CEO. Which explains why he opted for the small-scale growing of quality products and adopted organic cultivation. "It's not the most profitable way to make money fast, but I want our company to embody the values it advocates. For both users and our employees, so that everyone can benefit from the best practices out there."
About Canada House Wellness Group
Canada House Wellness Group is the parent company of Abba Medix Corp., a Licensed Producer in Pickering, Ontario that produces high quality medical grade cannabis; IsoCanMed Inc., a Licensed Producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility employing state-of-the-art vertical, aeroponic production methodologies; 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.
Groupe Fuga Inc. is a private corporation based in Stoneham, Québec. Licensed by Health Canada since October 2020, it produces cannabis for medical and recreational purposes. Fuga operates a $4 million, 800 sqm micro grow facility 30 minutes north of Québec City, where it uses the living soil organic cultivation method to produce its unique brand of cannabis. The company is planning to generate 10 full-time jobs. For more on Fuga's origin story, go to www.fuga.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 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.
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