Entourage Health Announces Filing of Amended Financial Statements and MD&A
October 15 2021 - 7:46PM
Entourage Health Corp. (formerly WeedMD Inc.)
(
TSX-V:ENTG)
(OTCQX:ETRGF)
(FSE:4WE) (“
Entourage” or the
“
Company”), a Canadian producer and distributor of
award-winning cannabis products and brands, today announces that,
as a result of a continuous disclosure review conducted by staff of
the Ontario Securities Commission (“OSC”), the staff of the
Corporate Finance Branch requested that the Company refile its
management's discussion and analysis (“MD&A”) for the interim
periods ended March 31, 2021 and June 30, 2021 and its unaudited
condensed interim consolidated financial statements for the three
months ended March 31, 2021 (collectively, the "Revised Financial
Disclosure").
On the request of the OSC staff, the Company is
filing the Revised Financial Disclosure to reclassify certain loan
balances from non-current to current liabilities and to provide
additional information in connection with the Company's liquidity,
capital resources and its ability to continue as a going concern.
No further adjustments have been made to the previously released
income statement or statement of cash flows.
About Entourage Health
Corp.
Entourage Health Corp. (formerly WeedMD Inc.) is
the publicly traded parent company of WeedMD RX Inc. a licence
holder producing and distributing cannabis products for both the
medical and adult-use markets. The Company owns and operates a
158-acre state-of-the-art greenhouse, outdoor and processing
facility located in Strathroy, ON as well as a fully-licensed
26,000 sq. ft. Aylmer, ON processing facility, specializing in
cannabis extraction. With the addition of Starseed Medicinal, a
medical-centric brand, Entourage has expanded its multi-channeled
distribution strategy. Starseed’s industry-first, exclusive
partnership with LiUNA, the largest construction union in Canada,
along with employers and union groups complements Entourage’s
direct sales to medical patients. In July 2021, Entourage signed a
definitive agreement to acquire craft cultivator CannTx Life
Sciences Inc. which operates out of its state-of-the-art
micropropagation and specialty extraction facility in Guelph,
Ontario. Upon the expected closing in the fall of 2021, craft brand
Royal City Cannabis will be added to Entourage’s elite product
portfolio. The Company maintains strategic relationships in the
seniors’ market and supply agreements with Shoppers Drug Mart as
well as eight provincial distribution agencies where adult-use
brands Color Cannabis and Saturday Cannabis are sold. Entourage is
also the exclusive Canadian producer and distributor of
award-winning U.S.-based wellness brand Mary’s Medicinals sold in
both medical and adult-use channels.
For more information, please visit us at
www.entouragehealthcorp.com
Follow Entourage and its brands on
LinkedIn
Twitter: Entourage,
Color Cannabis, Saturday
Cannabis &
Starseed
Instagram:
Entourage, Color
Cannabis, Saturday
Cannabis &
Starseed
For further information, please
contact:
For Investor Enquiries:Valter
PintoManaging Director KCSA Strategic
Communications1-212-896-1254entourage@kcsa.com
For Media Enquiries:Marianella
delaBarreraSVP, Communications & Corporate
Affairs416-897-6644marianella@entouragecorp.com
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation which are
based upon Entourage's current internal expectations, estimates,
projections, assumptions and beliefs and views of future events.
Forward-looking information can be identified by the use of
forward-looking terminology such as "expect", "likely", "may",
"will", "should", "intend", "anticipate", "potential", "proposed",
"estimate" and other similar words, including negative and
grammatical variations thereof, or statements that certain events
or conditions "may", "would" or "will" happen, or by discussions of
strategy.
The forward-looking information in this news
release is based upon the expectations, estimates, projections,
assumptions and views of future events which management believes to
be reasonable in the circumstances. Forward-looking information
includes estimates, plans, expectations, opinions, forecasts,
projections, targets, guidance or other statements that are not
statements of fact. Forward-looking information necessarily involve
known and unknown risks, including, without limitation, risks
associated with general economic conditions; adverse industry
events; loss of markets; future legislative and regulatory
developments; inability to access sufficient capital from internal
and external sources, and/or inability to access sufficient capital
on favourable terms; the cannabis industry
in Canada generally; the ability of Entourage to
implement its business strategies; the COVID-19 pandemic;
competition; crop failure; and other risks.
Any forward-looking information speaks only as
of the date on which it is made, and, except as required by law,
Entourage does not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for Entourage to predict all
such factors. When considering this forward-looking information,
readers should keep in mind the risk factors and other cautionary
statements in Entourage’s disclosure documents filed with the
applicable Canadian securities regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in the
disclosure documents could cause actual events or results to differ
materially from those described in any forward-looking
information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE
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