TORONTO,
Jan. 29, 2019
/CNW/ - Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF;
FRA:1QS) (the "Company" or "Pure Global") an
integrated, growth-oriented life sciences and consumer products
cannabis company, through its wholly-owned subsidiary PureSinse
Inc. ("PureSinse"), is pleased to announce it has entered
into a definitive agreement to purchase all of the outstanding
shares of SPRQ Health Group Corp. o/a SPARK (
"SPARK"), a Brampton-based cannabis clinic helping
patients to obtain safe access to medical cannabis with in-clinic,
telephone, and telehealth based consultations (the
"Transaction"). Subject to TSX Venture Exchange approval,
the Transaction is expected to close on or about January 30, 2019. SPARK will operate as a
wholly-owned subsidiary of Pure Global.
Headed by Dr. Sanjeev Goel,
SPARK commenced providing medical cannabis services in September 2017, and currently cares for over
2,500 active patients. A leading-edge practice located in the heart
of Brampton, the clinic is located
adjacent to a large family medical practice and will serve as a
referral point for physicians across Canada who are not familiar or comfortable
with prescribing cannabis.
SPARK offers personalized and innovative team-based care,
leveraging clinical tools such as genetic testing and tailored
education in order to ensure the effective and safe medical use of
cannabis for its patients. Physicians and pharmacists can refer
patients to SPARK for consultations and specialized care involving
medical cannabis at no cost. Patients across Canada can access SPARK through telemedicine,
video conferencing, or through a nurse telephone consultation, and
receive a free medical document within minutes for electronic
processing with several Licensed Producer partners, including
PureSinse.
Pursuant to the Transaction, Pure Global will pay at
closing CAD $100,000 in cash and
issue 480,000 shares of Pure Global to the private vendor of SPARK.
In addition, Pure Global may issue a maximum of 1,120,000
additional shares of Pure Global based on SPARK achieving certain
operational milestones. Dr. Sanjeev
Goel will continue as a director of the board of SPARK with
the addition of two independent board members whose mandate shall
include establishing patient-focused governance.
HelloMD Partnership
Further demonstrating its commitment to patient care, Pure
Global announces its partnership with HelloMD to mutually extend
their medical cannabis offerings to Canadians.
PureSinse will integrate HelloMD's unique white-label
telehealth services into its patient portal to enable greater
access to practitioner-led advice about medical cannabis.
Prospective patients will have online access to licensed healthcare
practitioners any time of day, and any day of the week. Patients
interested in purchasing medical cannabis from the PureSinse
website and who require a Medical Document, can quickly connect
with licensed practitioners from the comfort of their own home.
Once a patient receives a Medical Document, they can instantly
begin purchasing medical cannabis from the PureSinse
website.
"Innovative companies like PureSinse focus on developing
and distributing next-generation cannabis products to patients. Our
goal is to help them acquire and support those patients by
simplifying access to advice from licensed practitioners," said
HelloMD's SVP of Business Development, Larry Lisser. "Our turnkey approach to cannabis
telehealth services makes it easy for our partners to rapidly
deploy and start serving patients right away," added Mr.
Lisser.
As part of this partnership, HelloMD will also extend
overflow and evening and weekend services to patients of SPARK.
Leveraging HelloMD's white label services, the clinic will be able
to tap into HelloMD's prescriber capacity on an on-demand basis.
Together with SPARK, PureSinse will be able to direct patients from
across Canada to telehealth
services for obtaining a cannabis medical document within minutes
for free, 7 days a week.
"Through our acquisition of SPARK and our partnership with
HelloMD, we are building a platform to enable personalized medical
consultation, education and medical access to patients across
Canada as part of our continued
commitment to the health and wellness needs of medical cannabis
patients," said Malay Panchal, CEO of Pure Global. "In addition,
with our partnership with Appletree Medical Group, this acquisition
will enable us to efficiently increase our patient volumes more
rapidly," added Mr. Panchal.
"As a physician, my vision is to ensure patients receive
safe and effective access to medical cannabis that they need for
their ongoing health and wellness. I am really excited that the
design of the SPARK platform allows us to provide this care at no
cost to patients. As PureSinse is committed to making a positive
difference every day in the lives of patients, I truly believe our
patients will benefit from this partnership. Furthermore, with
PureSinse's commitment to investing in clinical innovation and
research, I am confident this will move medical cannabis knowledge
further," added Dr. Sanjeev Goel,
Medical Director of SPARK and Chief Medical Officer for
PureSinse.
About Pure Global Cannabis
Pure Global Cannabis Inc. (TSX.V:PURE;
OTC:PRCNF; FRA:1QS) is an innovation-based cannabis company led by
experienced pharma, biotechnology, horticultural, and consumer
packaged goods (CPG) experts. The Company's wholly owned
subsidiary, PureSinse Inc., is a licensed producer under the
Cannabis Act. The Company's Brampton campus houses facilities for
vertically farmed cultivation, R&D, extraction, manufacturing,
and distribution. Pure Global will produce branded and
white-labeled cannabis products for the medical, pharmaceutical,
wellness, health & beauty, natural health, food & beverage,
and recreational legal markets with uniquely formulated and
purified concentrates. The Company is using the Canadian market as
a springboard to develop and manufacture GMP-compliant cannabis
products for international sale and distribution with a goal to
become one of the most trusted premium international cannabis
brands.
About SPARK (SPRQ Health Group Corp)
SPARK provides access to medical
cannabis for patients across Canada through in-clinic and telehealth
medical consultation services. To date, SPARK has helped over 2,500
patients obtain access to safe and effective medical cannabis and
also serves as a referral point for physicians who are still not
familiar or comfortable with prescribing cannabis.
Please visit
www.sparkcannabis.ca for more
information on medical cannabis services provided. Request to join
our SPARK patient educational community on
Facebook.
About HelloMD
HelloMD has facilitated more than
100,000 virtual consults between medical cannabis patients and
licensed practitioners. The company's white-label solutions enable
third parties to quickly deploy a turnkey telehealth solution,
complete with the technology, practitioners and support personnel
required to improve their own patient onboarding
processes.
For further information about HelloMD visit:
www.hellomd.com/partner-with-us
Email: partners@hellomd.com
About Appletree Medical Group
Appletree Medical Group Inc. (AMG),
founded in 1992, is one of Canada's largest multidisciplinary medical
groups, providing comprehensive care in Ottawa and the Greater Toronto Area. With its expansive
network of family doctors and specialists, and telemedicine
services for reaching patients in rural and remote areas,
high-quality patient care is provided seven days a week. AMG is
dedicated to providing the best environment for all types of
practices: family doctors, specialists, acute care, and chronic
disease management. Appletree is a two-time winner of 'Best Medical
Clinic' in local media, and two-time winner of the Consumers'
Choice awards.
To register to Pure Global's mailing list, please
visit www.pureglobal.com.
Follow @pureglobalcanna on Twitter
and Facebook and
@pureglobalcannabis on
Instagram.
FORWARD-LOOKING STATEMENTS
This
news release contains certain forward-looking statements,
including, but not limited to, statements about Pure Global's
future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend",
"anticipate", "believe", "estimate", "predict" or "potential" or
the negative or other variations of these words, or similar words
or phrases, have been used to identify these forward-looking
statements. These statements reflect management's current beliefs
and are based on information currently available to management as
at the date hereof.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should
not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news
release are based upon what management believes to be reasonable
assumptions, Pure Global cannot assure readers that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Pure Global assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSX Venture Exchange 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.
To register to Pure Global's mailing list, please visit
www.pureglobal.com. Follow
@pureglobalcanna onTwitter and
Facebook and @pureglobalcannabis on
Instagram.
SOURCE Pure Global Cannabis Inc.