Field Trip Health & Wellness to Close Clinics in 5 Locations
March 15 2023 - 8:50AM
Field Trip Health & Wellness Ltd. (TSX-V: FTHW) ("Field Trip"
or the “Company”) today announced that, in an effort to reduce
expenditures and preserve capital, it will be closing the Field
Trip Health Centres located in Chicago, Washington DC, Seattle, San
Diego and Fredericton. The anticipated last day of operation for
each of these locations will be on or around April 15, 2023.
Clients in each of these locations will be
receiving notice of clinic closures which will include, among other
things, information on finding alternative care providers, how to
access their medical records and other information required by
applicable laws and regulations.
The Independent Committee (the "IC") of the
board of directors of the Company that was formed in December 2022
to assess strategic options for the Company, along with the IC’s
financial and legal advisors, continue to review the Company's
operations and investigate alternate courses of actions including,
but not limited to, further cost reductions, restructuring, the
potential sublease or closure of clinic locations and settlement of
lease obligations (the "Strategic Review"). The Company does not
intend to comment further on the Strategic Review, unless and until
the Board has approved a specific course of action or otherwise
determined that further disclosure is appropriate or required by
law.
About Field Trip Health & Wellness
Ltd.
With a large global community of
psychedelic-interested people, proprietary psychedelic therapies
that generate transformative results for people in the treatment of
mental health conditions and a brand and share of voice that is
reaching millions of people, Field Trip is a center of gravity for
the psychedelic renaissance.
Learn more at https://www.meetfieldtrip.com,
https://www.fieldtriphealth.com and
https://www.fieldtriphealth.nl.
Follow us on Twitter and Instagram:
@fieldtriphealth
To receive company updates about Field Trip and
to be added to the email distribution list please sign up here.
Cautionary Note Regarding
Forward-Looking Information
This release includes forward-looking
information (within the meaning of Canadian securities laws and
within the meaning of the United States Private Securities
Litigation Reform Act of 1995) regarding the Company and its
business. Often but not always, forward-looking information can be
identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of the Company and are based on assumptions and subject to risks
and uncertainties. Although the management believes that the
assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this release may not occur and could differ materially
as a result of known and unknown risk factors and uncertainties
affecting the companies. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise. Additional information relating to the
Company, can be located on the SEDAR website at www.sedar.com.
Neither the TSX Venture Exchange, nor its
Regulation Services Provider, have approved the contents of this
release or accept responsibility for the adequacy or accuracy of
this release.
CONTACTS:
Field Trip Health & Wellness:Ronan
LevyChairman & CEO (416) 505-0929ronan@fieldtriphealth.com
Investor contacts:Phil Carlson / Sophia Bashford
KCSA Strategic Communications(646) 573-0776) / (929
246-7307)fieldtripIR@kcsa.com
Media contacts:Isabella MorrealeAutumn
Communications(862) 579-7944press@fieldtriphealth.com
SOURCE Field Trip Health & Wellness Ltd.
Field Trip Health and We... (TSXV:FTHW)
Historical Stock Chart
From Jul 2024 to Jul 2024
Field Trip Health and We... (TSXV:FTHW)
Historical Stock Chart
From Jul 2023 to Jul 2024