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Vancouver, British Columbia–(Newsfile Corp. – November 27, 2018) – LiveWell Canada Inc. (CSE:LVWL) is one of the latest new listing on the Canadian Securities Exchange. The company plans to delist from the TSX Venture Exchange in the near future.
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LiveWell Canada Inc. is an innovative Canadian hemp and cannabis company focused on advanced research on CBD and other cannabinoids, as well as development, distribution, sales and marketing of prescription and consumer health and wellness products.
David Rendimonti, President and CEO, stated: “LiveWell is preparing for its transformative progression to a global life sciences company leveraging robust CBD supply chain production capacity, while focusing on a brand development strategy that prioritizes functional products and outcomes. The CSE embraces transforming companies like LiveWell who are growing beyond the Canadian borders. With the CSE listing, LiveWell is now positioned to pursue CBD opportunities not only in Canada, but globally, including the large and important U.S. market. We see this opportunity as immense and immediate. Listing on the CSE versus the TSXV allows us to take advantage of that.“
The company has greenhouses under construction in Ontario and Québec. Its Artiva site, near Ottawa, Ontario, features 540,000 square feet of greenhouses and 200,000 square feet of hot houses, on 100 acres of land. A late-stage cannabis cultivation applicant, LiveWell is working with partners Canopy Growth and Canopy Rivers to secure its licence for Artiva from Health Canada.
At the Litchfield site near Pontiac, Quebec, the company plans to develop a world-class research and innovation centre that will position Quebec as a leader in CBD innovation, production and distribution. LiveWell is also planning to grow cannabis and hemp at the Litchfield facility in hybrid greenhouses. The entire footprint of the facility is one million square feet, which will be developed in phased construction.
Further, LiveWell is in the process of acquiring Acenzia, an advanced manufacturing and research centre near Windsor, Ontario, which is expected to close by December 31, 2018.
LiveWell has partnered with Vitality CBD Natural Health Products for the supply of CBD wholesale products to Global Wellness Distributors, a Nevada entity controlled by a U.S. private equity firm. Commencing in January 2019, the joint venture will wholesale 1,000 kilograms of CBD per month, increasing to 3,000 kilograms per month in April. LiveWell will also provide marketing, sales and operational support for selling the hemp CBD to end consumers in North America. This transaction is expected to be finalized by the end of November, following due diligence and execution of a definitive agreement.
The Brightfield Group of Chicago estimates the North American market alone for CBD from hemp could reach US$22 billion by 2022.
For more information, please visit the company’s website www.LiveWellCorp.com, contact Nicole Marchand at 416-428-3533 or email [email protected]
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