Industrial Hemp License Creates Logistical Benefits
Calgary, Alberta--(Newsfile Corp. - February 8, 2021) - Discover Wellness Solutions Inc. (CSE: WLNS) (formerly RMMI Corp.) ("Discover Wellness" or the "Company"), a licensed producer and processor under the Cannabis Act (Canada), is pleased to announce that it has received an industrial hemp license, effective until February 5, 2024, to sell industrial hemp.
Under the license, the Company can sell industrial hemp as grain, flowering heads, leaves or branches. Additionally, the Company can import or export seed and grain. The industrial hemp license is important to our distribution strategy because industrial hemp is a classification for cannabis plants with lower than 0.3% THC. The Company is focussed on a wellness strategy that is all about delivering the benefits of CBD ("cannabidiol") without the psychoactive properties.
"The industrial hemp license is important to the Company's distribution strategy as it dramatically reduces the regulatory overheads on industrial hemp flower, grain and seeds sales and fits in well with our cost leadership strategy," commented Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer.
Discover Wellness Solutions Inc.
Discover Wellness (formerly RMMI Corp.) is a Canadian company licensed, through its subsidiary, to cultivate, produce, process and sell cannabis in various forms. The Company's vision is to enhance shareholder value by establishing cost leadership in hemp processing and CBD extraction coupled with a global distribution strategy.
More information about WLNS is available online at https://discoverwellness.solutions/.
Contact Information:
Manish Grigo, Chief Strategy Officer
mgrigo@discoverwellnesssolutions.ca
416-569-3292
Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer
ir@discoverwellnesssolutions.ca
Terry Uppal, Investor Relations
+1-888-228-5128
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"). By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Trading in the securities of WLNS should be considered highly speculative.
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