CALGARY, Alberta, June 11, 2018 (GLOBE NEWSWIRE) -- 10330698 Canada Ltd. (dba Compass Cannabis Clinics, "Compass") is pleased to announce that it has entered into a letter of intent with Dr. Teresa Towpik which will signal the launch of its operations in Australia under a joint venture entity to be known as Compass Australia. Dr. Towpik is a global leading cannabis expert and physician. She has been a general practitioner in Australia since 1993, where Dr. Towpik has become a leading advocate for patient access to medicinal cannabis since it became legalized in Australia in 2016. Dr. Towpik continues to play an important role in prescribing medicinal cannabis while the process for patient access continues to improve in Australia. She is also the founder of MediHuanna, an organization that provides science-based medicinal cannabis education for physicians and health professionals through the comprehensive curriculum that she developed. The joint venture operation will also be supported with the addition of Dr. Towpik as Chief Medical Officer and a director of Compass Australia, and MediHuanna’s Managing Director Paul Bulkiewicz as a director of Compass Australia. Mr. Bulkiewicz brings a wealth of knowledge in cannabis education and is actively engaged in the creation of physician-focused and accredited curriculum highlighting the role of cannabis in healthcare.
In response to Australia's growing need for physician and patient education, Dr. Towpik's curriculum focuses on the development of theoretical and practical skills for physicians. She strongly believes in working with a network of ethical growers, manufacturers, pharmacists, and health professionals across Australia, in an effort to create an allied industry that utilizes an integrative approach to supporting patients. Dr. Towpik sees cannabis as a therapeutic agent that has huge potential for general practice, and specifically for the management of chronic debilitating pain.
“With our values being so aligned in patient care and advocacy, it was a natural fit for us to partner with Dr. Towpik as our Chief Medical Officer and Mr. Bulkiewicz as a board member.” Dave Martyn, the President of Compass says. “Having recently visited Australia to learn more about their approach to legalize cannabis in the country, we believe that there is a great opportunity for the Compass business model to thrive there.”
Compass intends on launching their brand and business model in the Australian market by the end of 2018.
Compass Cannabis is a medical cannabis consultation company whose core business is focused on providing educational and consultation services to Canadians who are able to obtain cannabis from a licensed producer under Canada's Access to Cannabis for Medical Purposes Regulations. Compass Cannabis has forty clinics that are now open or confirmed across Canada, and was recently selected by the Saskatchewan Liquor and Gaming Authority as a cannabis retailer for Weyburn, SK. The retail license is through their subsidiary company, 10537888 Canada Ltd. and in partnership with Starbuds Colorado, one of the leading multiple state cannabis retailers in the United States. With a rapidly growing patient base currently being served and an aggressive real estate acquisition strategy, the Company is poised to be one of the largest marijuana organizations in Canada.
Dave Martyn, President
10330698 Canada Ltd.
1650 Pandosy Street
Kelowna, British Columbia V1Y 1P7
Cautionary Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Compass' actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
The forward-looking information in this news release includes disclosure about the conversion and opening of future Compass locations and the future success of the business and operations of Compass.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; reliance on key and qualified personnel; the inability to convert current Compass locations into retail cannabis retail locations; the inability to successfully complete the transactions contemplated by the Letter of Intent; and regulatory and other risks associated with the cannabis industry in general. Compass Cannabis cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
Compass assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.