Santé Veritas Holdings Inc. To Commence Trading on Canadian Securities Exchange (revised)
Toronto, ON – May 9, 2018: Santé Veritas Holdings Inc. (“SVH” or the “Company”) announces that its common shares will start trading on the Canadian Securities Exchange (the “CSE”) at the opening of the market on May 10, 2018 under the stock symbol “SV”. This is the next step in its aggressive strategy to build one of North America’s largest integrated cannabis business platforms, with an intention to combine key elements of the cannabis ecosystem, including cultivation, extracted products, dispensaries, and online distribution.
SVH’s subsidiary Santé Veritas Therapeutics Inc. (“SVT”) is at the final stage of obtaining a cultivation licence under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”). Health Canada recently issued SVT a “confirmation of readiness” for a licence under the ACMPR, confirming its initial annual cultivation request of 2,835,000 grams of cannabis flower. SVT is currently completing the buildout of Phase I of its cannabis products cultivation platform, comprising more than 40,000 square feet of combined indoor cultivation and administrative facilities in Powell River, British Columbia, on a waterfront site that was formerly part of Catalyst Paper’s operations. SVT anticipates receipt of Licensed Producer status later in 2018.
SVH has substantial plans for its Powell River cannabis platform. It plans to start Phases II and III of a larger buildout this summer, completion of which would add approximately 100,000 square feet of additional productive capacity. The adjacent Catalyst Paper mill complex, within which SVH’s current facility is located, offers SVH almost 1 million total square feet of expansion potential, coupled with a sophisticated power grid, and other world class infrastructure.
Concurrently, this summer SVH intends to make an application for a licence under the ACMPR in respect of operations in New Brunswick, where SVH has secured an option on favourable real estate and has secured municipal support for a substantial cultivation and extraction operation. SVH will also be a title sponsor at the World Cannabis Congress in St. John, NB this coming June.
SVH’s M&A team intends to aggressively scour North American and international markets for synergistic opportunities and welcomes all proper inquiries from qualified parties.
SVH’s senior team members intend to be present at most if not all major cannabis conferences and trade shows in 2018, including the upcoming 2nd Annual Canaccord Genuity Cannabis Conference in New York City, May 17, 2018.
Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward looking information. Such forward-looking statements include, without limitation, SVT’s receipt of Licensed Producer status and the timing thereof, application for additional cannabis licences, the timing of the buildout of the Powell River facility ,intentions for a boarder cannabis platform, the Listing on the CSE, and other factors.
Forward looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company and, where applicable, management of the Company, are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including among others, SVT’s failure to receive, or delay in receiving, Licensed Producer status. The preceding list is not exhaustive of possible factors.