Chemistree Acquires Ownership Stake in The Physician's Choice CBD LLC
VANCOUVER, April 29, 2019 /CNW/ - Chemistree Technology Inc. (CSE: CHM and CHM.wt) (US OTCQB: CHMJF) (the "Company" or "Chemistree"), is pleased to announce that the Company has entered into a funding agreement with The Physician's Choice CBD LLC of Phoenix, Arizona.
The Physician's Choice CBD ("PCCBD") is dedicated to research, development, and utilization of the highest quality of hemp-derived cannabidiol (CBD) combined with well-studied and effective supplements specific to help regulate and support various symptoms. The integration of extensive physician clinical experience combined with exhaustive expertise in the cannabis industry has led to the creation of The Physician's Choice CBD.
Established in 2018, PCCBD has already developed a suite of nine full spectrum CBD from Hemp products ranging from pain/inflammation management to sleep and wellness supplements. In it's first quarter of sales ended January 2019, the company booked approximately $150,000 in sales. The products are available for purchase at www.pccbd.com and distributed through healthcare providers across the U.S. The Physicians Choice CBD offers complete wholesale programs as well as a referral program compensating healthcare providers on purchases from codes provided to their patients.
With over 15 years in private practice, Dr. Julian Grove, M.D. and Dr. Peter Kubitz, D.O., have experienced first-hand the difficulties and complex dilemmas in treating patients suffering from chronic pain. From a medical management perspective, the treatment of pain is at a crossroads as for the last two decades, the intersection of various forms of pain medications and the prominent and real consequences of their use has created a globally recognized problem. The side effects, end-organ damage, and the potential for addiction and abuse are global concerns. As providers treating patients with complex pain daily, the doctors offer patients a myriad of different treatments including physical therapy, interventional therapies (nerve blocks, spinal cord stimulation), and complementary treatments (chiropractic, naturopathic medicine, massage, acupuncture, psychological support). Unfortunately, many times, this is not enough.
Dr. Grove stated,
Managing various pain syndromes with medications that do not exacerbate severe medical conditions and behavioral risk factors is an ongoing challenge for medical professionals. This has been a driving force in the development of a product line of cannabidiol products, aiding in the management of specific pain syndromes and improve a sense of well-being
Chemistree president Karl Kottmeier commented
This investment in The Physician's Choice CBD is a great opportunity for Chemistree. Dr. Grove and Dr. Kubitz are board certified practicing physicians with training at Harvard and the Mayo Clinic, specializing in pain management. Their collective education and practical experience is industry-leading and their commitment to the health of their patients and to developing real solutions to pain management with cannabidiol-based supplements is truly inspiring. The investment we are making into PCCBD gives us exposure to an entirely new industry and we are excited to assist whereever we can to see PCCBD continue to grow its sales and product offerings into a multi-state success. I encourage everyone to visit www.pccbd.com to learn more about this great new company and their comprehensive and growing line of CBD supplements
Dr. J. Julian Grove, M.D.
Dr. J. Julian Grove is a double-board certified, fellowship trained anesthesiologist and pain management specialist. Dr. Grove completed his medical degree (MD) at the University of Colorado. Dr. Grove went on to complete his residency in anesthesiology at Stanford University Medical Center in Palo Alto, California and then a fellowship in pain management at Harvard Medical School (Brigham and Women's Hospital) in Boston, Massachusetts. Over the course of his career, he has peer reviewed, published articles on neurotoxicity, neuronal glial cell activation, and neuroplasticity. Dr. Grove has lectured regionally and nationally on various pain management topics, including opioid abuse, addiction and diversion, novel drug delivery systems in non-steroidal anti-inflammatory therapy (NSAIDS) and skeletal muscle relaxants, tamper resistant opioid formulations and cancer related pain. Dr. Grove is also the president of the Arizona Pain Society.
Dr. Peter Kubitz, D.O.
Dr. Peter Kubitz is double board certified by both the American Board of Pain Medicine and the American Board of Physical Medicine and Rehabilitation. He completed medical school at Western University of Health Sciences and went on to complete his residency at Mayo Clinic in Rochester, Minnesota, and now practices as a physiatrist, specializing in pain management. A physiatrist is a medical doctor (MD) or doctor of osteopathic medicine (DO) who specializes in diagnosing and treating both acute pain and chronic pain, and offering a broad array of nonsurgical treatments for the musculoskeletal system. Dr. Kubitz is also the Medical Director and Chair of the Governing Board of HonorHealth Pain Management Center
Mr. Jeff Schaeffer, CEO
Mr. Jeff Schaeffer is the founder of PARC (Patient Alternative Relief Center), one of the first state licensed medical marijuana dispensary's in AZ. Mr. Schaeffer started researching the proposed medical marijuana program in Arizona in November 2011, after 25 years of corporate management experience. To further his research, Mr. Schaeffer traveled to California, Montana and Colorado, observing and training with experienced marijuana growers. In February 2015, Mr. Schaeffer began cultivation at a manufacturing level. During his time Mr. Schaeffer has worked on designing and constructing a 37.000 square foot cultivation facility for PARC, capable of producing advanced medical marijuana and extractions. In the second quarter of 2017, Mr. Schaeffer began working with Dr. Grove and Dr. Kubitz to creating a company developing a CBD product line. Working with the doctors and chemist in the state of Washington, Mr. Schaeffer helped developed an alternative to patients everywhere.
Mr. Aubrey Bradley
Mr. Aubrey Bradley is the original founder of Growlite Inc, a market leader in the horticultural lighting industry. Aubrey has been instrumental in bringing certified, patented, and energy efficient lighting technology to the cannabis industry for the last 10 years. He brings extensive experience and far-reaching professional relationships within the cannabis industry, ranging from cultivation to product delivery to consumers. Mr Bradley's focus is dedicated to branding and product development.
PCCBD's products and statements have not been evaluated by the Food and Drug Administration, and are not intended to diagnose, treat, cure or prevent any disease or illness. All The Physician's Choice CBD products are gluten-free, vegan, non-GMO, with no BPA in containers or products.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry. The Company's corporate strategy is to acquire and develop vertically integrated cannabis assets, leveraging management's decades of expertise in the cannabis industry and corporate finance to own and operate licensed cultivation, processing, distribution and retail facilities.
For more information, visit www.Chemistree.ca.
The Company wishes to inform shareholders that there are significant legal restrictions and regulations that govern the cannabis industry in both Canada and the United States.
Cannabis-related Practices or Activities are Illegal Under U.S. Federal Laws
The concepts of "medical cannabis" and "recreational cannabis" do not exist under U.S. federal law. The Federal Controlled Substances Act classifies "marihuana" as a Schedule I drug. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of safety for the use of the drug under medical supervision. As such, cannabis related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defence to any federal proceeding which may be brought against the Company. Enforcement of U.S. federal laws will be a significant risk to the business of the Company and any such proceedings brought against the Company may adversely affect the Company's operations and financial performance.
Further information regarding the legal status of cannabis related activities and associated risk factors, including, but not limited to, risk of enforcement actions, risks that third-party service providers, such as banking or financial institutions cease providing services to the Company, and the risk that Company may not be able to distribute profits, if any, from U.S. operations up to the Company, are included in the Prospectus, the Company's annual information form and other documents incorporated by reference therein and in the Company's Form 2A listing statement filed with the CSE and available under the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", "budget", "scheduled" and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about adding clients, building on the Company's initial product offerings, entry into of definitive agreements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the Company's reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
SOURCE Chemistree Technology Inc.