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Canada House Wellness Group Continues Strategic Transformation with the Hiring of Alex Kroon and Steven Pearce and Announces Issuance of Stock Options
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TORONTO, July 20, 2018 (GLOBE NEWSWIRE) -- The Board of Directors of Canada House Wellness Group Inc. (CSE:CHV) (“Canada House” or the “Company”) announced today the hiring of Alex Kroon as Executive Vice-President of the Company and President of the Company’s wholly owned subsidiary Marijuana for Trauma (“MFT”) as well as the hiring of Steven Pearce as Vice-President, Legal. Alex Kroon’s start date is August 13th, 2018 and Steven Pearce is starting immediately. Both Steven and Alex will be part of the Canada House executive council. Michael Southwell, MFT’s Vice-President from 2013-2017 and President from 2017-2018 will resign as President of MFT effective August 13th, 2018 but will continue as a valued and important member of Canada House’s leadership team in his capacity as a member of the Board. The Board would also like to thank Riley McGee for his efforts over the past year in the management of MFT.
MFT was founded by Fabian Henry and Mike Southwell in 2013 and has grown under their direction to one of Canada’s leading cannabinoid therapy companies, with 11 clinics spanning six provinces providing leading treatment plans and support to a variety of medical patients, including military veterans, first responders, law enforcement, and civilians with, among other conditions, PTSD.
“On behalf of the Board, I would like to express our excitement in welcoming Steven and Alex to the Canada House team. Steven has provided invaluable legal guidance to MFT from the beginning and we are pleased to bring him on board in a permanent capacity. Alex is a proven healthcare leader with many successes specific to the health care sector and brings a level of institutional quality of work that our organization needs at this important stage of our development as we pursue our ‘medical first’ focused strategy” commented Mike Southwell. “Adding these two individuals to Canada House’s management team solidifies and stabilizes the Company’s senior leadership as the cannabis sector enters into its next phase of maturity.”
Steven brings a wealth of cannabis specific legal experience to Canada House. In addition to acting as Canada House and MFT’s general counsel over the past 5 years, Steven has significant experience in highly regulated markets. In his capacity as Director of Risk and Contracts of a large Crown Corporation, Steven was responsible for the development and implementation of a Contract Management framework, ongoing operations, as well as the negotiation and drafting of contracts representing several billion dollars in annual spend. Mr. Pearce holds a Bachelor of Commerce (Finance & Accounting) from McGill University and a Bachelor of Laws from the University of New Brunswick.
Alex brings extensive healthcare and business leadership experience to MFT including the management of rapid growth for companies in various business stages and industry sectors. Of note is Alex’s recent achievement of more than quadrupling revenues of an international healthcare firm which managed over one billion dollars in healthcare services with patient care excellence. During this growth Alex assisted the owner in selling to a large multinational corporation and led geographical expansion, product line evolution, and an acquisition for that multinational corporation. In addition to leading the international healthcare firm, Alex has been President of a community based geriatric management firm, and President of an established technology management firm with operations in Canada and India. Alex holds a Bachelor degree in Engineering Physics from Queen’s University, started his career with a large global management consulting firm and was part of the management team of two telecom startups prior to moving to healthcare. He is an executive on the board of a large charity with over 400 employees in Toronto providing child care services, employment skills and community development. Alex has been a featured “Lived It” speaker at the MaRS incubator entrepreneurship series and has benefited from more than 5 years participation with a leading CEO peer group.
Chris Churchill-Smith, Canada House’s CEO added “I’m very excited to announce the hiring of Alex and Steve to our senior management team. These hires are in line with our long-term strategy of solidifying our front office and setting the Company up for meaningful growth. MFT is a pillar to our business as we continue on our path to become an industry leader in the medical cannabis sector. Alex’s background navigating complex regulatory environments and associated track record of growth in the health care sector will no doubt drive shareholder value. Furthermore, Alex’s addition will allow Riley to dedicate all of his energy to achieving full production at our Pickering licensed grow facility.”
As well, Canada House’s Board is pleased to announce the immediate granting of 3,500,000 stock options, pursuant to the Company’s stock option plan, among Steven, Alex, and Paul Hart, the Company’s recently appointed CFO.
Of the above options, 500,000 vest as of July 18, 2018 at an exercise price of $0.20, and expiring July 18, 2023 and 375,000 vest as of August 13, 2018 at an exercise price of $0.20, and expiring August 13, 2023. The remaining 2,625,000 options will vest in three tranches of 875,000 on October 1, 2018, January 1, 2018 and April 1, 2019, respectively. Such options will be issued at an exercise price equal to $0.20 and will have a term of five years.
Canada House Wellness Group Inc.
Canada House is the parent company of Marijuana for Trauma Inc., Knalysis Technologies and Abba Medix Corp. The Company's goal is to become a marketplace leader through strategic partnerships, mergers, and acquisitions to create a fully integrated cannabis therapy company. For more information please visit http://www.canadahouse.ca. or www.sedar.com
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Boom Capital Markets
Cautionary Statement Regarding Forward Looking Information. Certain statements within this news release pertaining to the Company may constitute “forward looking statements”, within the meaning of applicable securities laws. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “plans,” or other similar words. Such forward-looking statements involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
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