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Canada House Wellness Group Inc. Announces Results of Annual General Meeting and Issuance of Stock Options

TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Canada House Wellness Group Inc. (“Canada House” or the “Company”) (CSE: CHV) is pleased to announce the results of the company’s Annual General and Special Meeting of shareholders that was held in Toronto, Ontario on Tuesday, October 30, where a number of business items were presented and approved by the shareholders in attendance.

The Directors of the Company that were nominated at the meeting – Norman Betts, Chris Churchill-Smith, Dennis Moir and Mike Southwell – were elected to hold office until the next Annual General Meeting of Shareholders, or until their successors are elected or appointed.

In addition, RSM Canada LLP, Chartered Professional Accountants, formerly Collins Barrow Toronto LLP, were appointed as auditors of the Company for the following year and the Directors were authorized to fix their remuneration.

Finally, shareholders approved a motion to approve the filing of articles of amendment to change the name of the Company to “Canada House Group Inc.,” “Canada House Cannabis Group Inc.” or another name as approved by the Directors. A further announcement will be made when the name change is formally affected.

The Company also is pleased to announce the immediate granting of 1,500,000 stock options to Directors and senior employees at an exercise price of $0.19 and with a term of 5-years. The grant was made in accordance with the Company’s stock option plan and the policies of the Canadian Securities Exchange.

Canada House Wellness Group Inc.

Canada House is an experienced, integrated medical cannabis company providing patient-specific cannabinoid therapy products and services through its clinics and licensed producer. Canada House is the parent company of Canada House Clinics Inc., Knalysis Technologies and Abba Medix Corp. 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.

Wednesday, October 31, 2018 - 18:39