OTTAWA, Nov. 26, 2018 /CNW Telbec/ - LiveWell Canada Inc.
("LiveWell" or the "Company"), (TSXV: LVWL) (CSE:
LVWL) has been approved to list its common shares on the Canadian
Securities Exchange (CSE). As a result, the Company
will voluntarily delist its common shares from the TSXV. The
transition will happen seamlessly, with LiveWell listing on the CSE
starting today and the delisting from the TSXV will take place in
the near future.
Moving to the CSE will allow LiveWell to accelerate its growth
plans to become a global leader in the CBD market without
restrictions on operating in certain international markets.
"LiveWell is preparing for its transformative progression to a
global life sciences company leveraging robust CBD supply chain
production capacity, while focusing on a brand development strategy
that prioritizes functional products and outcomes," said
David Rendimonti, President and CEO
of LiveWell Canada Inc. "The CSE embraces transforming companies
like LiveWell who are growing beyond the Canadian borders," he
added.
Legalization and acceptance of CBD for its health and wellness
benefits are accelerating at a rapid pace globally. CBD derived
from hemp faces fewer legal restrictions worldwide than cannabis.
The Brightfield Group of Chicago
estimates the North American market alone for CBD from hemp could
reach US$22 billion by 2022.
While hemp cultivation, processing and sale activities are
currently legal in the U.S., as per the State Farm Act, the
anticipated passage of the Hemp Farming Act of 2018 would legalize
hemp federally before the end of the year and essentially create
the same business environment for hemp as any other agricultural
commodity.
"With the CSE listing, LiveWell is now positioned to pursue CBD
opportunities not only in Canada,
but globally, including the large and important U.S. market. We see
this opportunity as immense and immediate. Listing on the CSE
versus the TSXV allows us to take advantage of that,"
Mr. Rendimonti said.
As recently announced, LiveWell has partnered with Vitality CBD
Natural Health Products in a major hemp CBD supply deal to a U.S.
private equity firm. Commencing in January
2019, the joint venture will wholesale 1,000 kg/month of
CBD, increasing to 3,000 kg/month in April. LiveWell will also
provide marketing, sales and operational support for selling the
hemp CBD to end consumers in North
America. This CBD Transaction is expected to be finalized by
the end of November, following due diligence and execution of a
definitive agreement.
About LiveWell Canada
LiveWell Canada Inc. is an innovative Canadian hemp and cannabis
company focused on advanced research on CBD and other cannabinoids,
as well as development, distribution, sales and marketing of
prescription and consumer health and wellness products. The company
has greenhouses under construction in Ontario and Québec. Further, LiveWell is
in the process of acquiring Acenzia, an advanced manufacturing and
research centre near Windsor,
Ontario, which is expected to close by December 31, 2018. For more information, visit
livewellcorp.com
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements about the
Company and its business. Often, but not always, forward-looking
statements can be identified by the use of words such as "plan",
"continue", "expect", "schedule", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "potential", "proposed"
and other similar words, or statements (including negative
variations) that certain events or conditions "may" or "will"
occur. Such statements are based on the current
expectations of management. The forward-looking events and
circumstances discussed in this release may not occur by certain
specified dates or at all and could differ materially as a result
of unknown and known risk factors and uncertainties affecting the
Company. Further, the Company cautions that this foregoing list of
material factors is not exhaustive, and readers are encouraged to
read all Risk Factors disclosed in the Company's Management
Discussion & Analysis dated October 26,
2018.
In respect of the forward-looking statements and information
concerning the anticipated benefits and completion of the CBD
Transaction and the Acenzia acquisition, including the anticipated
timing for completing the respective definitive agreements, the
Company has provided such statements and information in reliance on
certain assumptions that it believes are reasonable at this
time. Further, there can be no assurance that the CBD
Transaction and the Acenzia acquisition will occur, or that it will
occur on the terms and conditions contemplated in this news
release. Following the due diligence, the CBD Transaction and
Acenzia acquisition could be modified, restructured or
terminated.
The forward-looking information contained in this press
release represents expectations of the Company as of the date of
this press release and accordingly, is subject to change after such
date. Readers should not place undue importance on forward-looking
information and should not rely upon this information as of any
other date. While the Company may elect to, it does not undertake
to update this information at any particular time except as
required in accordance with applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
For more information, visit livewellcorp.com
SOURCE LiveWell Canada Inc.