Teal Valley Health Inc. Announces Launch of its Medical Cannabis Software Platform & Pre-Listing Financing

October 16 11:00 2018 Print This Article

Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

VANCOUVER, British Columbia, Oct. 17, 2018 (GLOBE NEWSWIRE) — Teal Valley Health Inc. (“Teal Valley” or the “Company“) is pleased to announce the successful launch of its comprehensive medical cannabis software platform (the “Teal Valley Platform“).

The Teal Valley Platform includes a cannabis specific Electronic Medical Records system (“EMR System“) and is rapidly becoming the industry’s most comprehensive patient and clinic prescribing, ordering, and management platform.  The Teal Valley Platform provides an intuitive integrated solution that empowers and connects patients, healthcare practitioners and clinics with licensed producers of cannabis.

The Teal Valley Platform optimises and enhances the process of patient and customer acquisition and on-boarding, while managing the entire order lifecycle in a sector that is quickly realizing customers’ demands for a seamless journey and healthcare experience.

Additionally, in anticipation of Teal Valley’s expected listing application to a stock exchange in Canada, the Company announces a pre-listing non-brokered private placement financing (the “Financing“) for gross proceeds of up to $10,000,000, comprised of up to 15,384,615 units in the capital of the Company (each, a “Unit“) at the subscription price of $0.65 per Unit.  Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant (each, a “Warrant“), with each whole Warrant entitling the holder thereof to purchase one common share in the capital of the Company at an exercise price of $1.00 per share for a period of 24 months from the closing of the Financing, subject to acceleration.  Where permitted by applicable securities laws, the Company may pay a finder’s fee to individuals or companies who refer investors who participate in the Financing, payable in cash and/or securities, as the Company in its sole discretion may determine.  All securities issued in connection with the Financing will be subject to a hold period of four months and one day in Canada.

Proceeds from the Financing are intended to be used to complete the acquisition of two world-class Health Canada licensed drug manufacturing and packaging facilities located in the Greater Toronto area and Montreal with an aggregate of 130 000 square feet of cannabis processing space. The Financing proceeds are also anticipated to be used to accelerate the installation of cannabis extraction systems and cannabis product manufacturing at the aforementioned facilities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States, or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any United States state securities laws, and may not be offered or sold in the United States or to the account or benefit of a “U.S. person” (as defined in Regulation S under the 1933 Act) or a person in the United States absent registration or an applicable exemption from the registration requirements.

About Teal Valley

Investor Information

Teal Valley is a Canadian cannabis company establishing itself as a leader in cannabis extraction and cannabis infused product manufacturing for domestic and international markets.

Additional information regarding Teal Valley is available under the Company’s profile at www.sedar.com or at the Company’s website, www.tealvalley.com.

For further information contact:

Mr. Brett Walker
Chief Executive Officer
[email protected]
1-877-778-2066

www.tealvalley.com

Forward Looking and Cautionary Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the amount of the Financing, the intended use of proceeds of the Financing, anticipated results from the Teal Valley Platform, the payment of finder’s fees, the commencement of a stock exchange listing, the acquisition of the target facilities, the Company’s expectation that it will be able to enter into agreements relating to the development of the target facilities, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Often, but not always, forward-looking information can be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events.  In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Financing, the receipt of any necessary regulatory approvals in connection with the Financing and future development of the Teal Valley Platform and facilities or any of the Company’s other projects in a timely manner and the Company’s ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, lack of investor interest in the Financing, operating and technical difficulties in connection with the Teal Valley Platform and development activities at the Company’s facilities, including the installation of cannabis extraction and manufacturing systems, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of the facilities, changes in general economic conditions, changes in the financial markets, possible failures of the facilities, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the cannabis industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including stock exchange approval, changes in laws, regulations and policies affecting cannabis operations, hedging practices, currency fluctuations, title disputes and the timing and possible outcome of pending litigation, environmental issues and liabilities, as well as those factors discussed in the filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking information. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.

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About Article Author

Jonathan Yaniv
Jonathan Yaniv

Jonathan is the founder and editor-in-chief of TrustedNerd.com. Covering major tech shows such as CES, Jonathan is always there for the latest tech news. Want your gadget to be reviewed or have a release you'd like to be considered for publishing? Send Jonathan an email, jonathan [at] trustednerd.com

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