The Hash Corporation Enters into Product Acquisition Agreement
Toronto, Ontario--(Newsfile Corp. - April 27, 2021) - The Hash Corporation (the "Company", or "HashCo"), a Canadian company positioning itself to focus on the production and sale of cannabis-based hashish and other cannabis products, is pleased to announce that it has entered into a product acquisition agreement (the "Agreement") with Canada House Wellness Group (CSE: CHV) ("Canada House") and its wholly owned subsidiary, Abba Medix Corp., a licensed cultivator and processor under the Cannabis Act ("Abba").
Under the terms of the Agreement, HashCo will sell certain cannabis materials comprised of pressed dry sift hash to Abba, through the Company's collaboration agreement with Medz Cannabis Inc., a licensed cultivator and processor under the Cannabis Act. Upon Abba's successful listing of purchased hash materials for sale in Quebec, the Agreement will commence and will remain in effect for a period of 12 months with the option to renew for subsequent 12 month periods.
"HashCo is extremely excited to enter into this relationship with the wonderful teams at Canada House and Abba," commented Chris Savoie, CEO of Hashco. "This Agreement allows Hashco to leverage Abba's established distribution channels to bring its high-quality products to hash consumers throughout the Province of Quebec."
About The Hash Corporation
HashCo is a Canadian company positioning itself to focus on the production and sale of cannabis-based hashish and other cannabis products. HashCo intends to apply its separation and curing techniques to produce a suite of high-quality cannabis resin products, which are all-natural and free of additives and carcinogenic solvents. The Company intends to tailor its product offerings to pay tribute to historic traditions, fragrances and tastes, while upholding the highest health and safety standards.
As of the date of this press release, HashCo is actively seeking and developing partnerships and collaborations with licensed cultivators and other strategic partners within Canada, with the goal of crafting and introducing to the regulated market authentic products which reflect quality and innovation.
About Canada House Wellness Group
Canada House Wellness Group is the parent company of Abba Medix Corp., a Licensed Producer in Pickering, Ontario that produces high quality medical grade cannabis; IsoCanMed Inc., a Licensed Producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility employing state-of-the-art vertical, aeroponic production methodologies; Canada House Clinics Inc., with clinics across the country that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions; and Knalysis Technologies, a provider of fully customizable, cloud-based software that links physician, provider, and patient to data that supports treatment with medical cannabis.
Canada House Wellness Group's goal is to become the leading cultivator of premium craft cannabis and provider of cannabinoid therapy, targeting the medical cannabis markets globally.
For additional information on The Hash Corporation:
The Hash Corporation, Chief Executive Officer
Forward Looking Information
Certain statements in this press release may constitute "forward looking statements" which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as "may", "will", "expect", "believe", "plan" and other similar terminology. Such statements reflect management's current expectations regarding future events and speak only as of the date of this press release. The forward-looking statements involve a number of risks and uncertainties, including, but not limited to, the Company's stage of development, capital requirements and future ability to fund operations, regulatory requirements, general economic, and market or business conditions, and the Company's ability to carry out its obligations under the Agreement. The forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, 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. In making the forward-looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining regulatory approvals, general business and economic conditions, the Company's ability to successfully carry out of all its obligations under the Agreement on the terms set out in the Agreement, the purchasers' ability to obtain approval from the Société québécoise du cannabis, the purchasers' willingness to carry out the terms of the Agreement and purchase the Product, the Company's ability to maintain good relationships with its partners and other third parties, market competition, and the immediate and eventual impacts of Coronavirus Disease 2019 (COVID-19) on the Company's proposed operations and financial condition, and market demand. The foregoing list of factors is not exhaustive. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether a result of new information, future results or otherwise, except as required by law. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
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