Discover Wellness Announces Initial B2B Sale of Industrial Hemp Biomass
Calgary, Alberta--(Newsfile Corp. - April 8, 2021) - Discover Wellness Solutions Inc. (formerly RMMI Corp.) (CSE: WLNS) ("Discover Wellness", "DWS" or the "Company"), a licensed producer and processor under the Cannabis Act (Canada), is pleased to announce that it has entered into a sales agreement to sell industrial hemp to a Canadian processor for ultimate use in extraction with a biopharmaceutical company (the "Sale"). The Company's emphasis is on the high growth Cannabidiol "CBD" market with a focus on wellness without the psychoactive properties of THC. The Sale represents Discover Wellness' first business-to-business ("B2B") revenue.
"We view this sale as an important step in moving towards monetising our high CBD hemp inventory. Most importantly this sale for end use by a biopharmaceutical company demonstrates the high-grade quality of our hemp biomass to ultimately yield high quality CBD concentrates," said Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer.
In 2021 our focus remains on a move to profitability and starting up of our Health Canada licensed extraction facility. This initial sales agreement and the recently announced MOU (See press release date March 2, 2021) demonstrates the Company progress in establishing a global presence a presence in North America and Asia.
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/
Manish Grigo, Chief Strategy Officer
Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer
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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