Tree of Knowledge International Celebrates the Signing of the 2018 US Farm Bill and Provides Outlook for 2019 and Year to Date Review
TORONTO, Jan. 02, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Tree of Knowledge International Corp. (CSE:TOKI; OTC:TRKWF) (the “Company” or “TOK”) announced today that, in celebration of the 2018 Farm Bill being signed and Hemp being removed from the US DEA’s Schedule 1 status for the most harmful substances, it is offering a discount code for products featured on the Company’s product website (evrcbd.com) and use code ‘2019’ at checkout for 20% off through January. The Company also announced its outlook for 2019 and has provided an overview of its activities to date.
TOK is a publicly traded, North American cannabis healthcare platform led by physicians, focused on formulated product development and distribution, and backed by cannabis research and education. With its head office in Toronto and operations in North York, Ontario and Spokane, Washington, TOK currently has three primary business segments.
- Multidisciplinary specialty pain clinics with a focus on the treatment of chronic pain, including controlled applications of medical cannabis in Canada,
- Development of formulated products for therapeutic purposes and natural health product alternatives at its manufacturing facility in Spokane, which provides formulations for the Company’s products and for third parties equivalent to GMP standards, and
- Distribution and sale of products in the United States, Canada, Europe, Brazil and China.
Management believes TOK’s primary competitive advantage is derived from its access to patients and broad distribution network across North America and international markets. TOK has one of the largest patient populations in North America through its strategic relationships with physicians in the United States and Jack Nathan Health clinics (both in Canada and internationally), among others. TOK has the ability to conduct large scale observational studies and clinical trials on various cannabinoids, generating statistically significant data used for product development which, in turn, can be monetized through the Company’s patient and consumer base.
OUTLOOK FOR 2019
Marked as genuinely historic for the cannabis industry, the passing of the 2018 Farm Bill has removed all confusion associated with “industrial hemp”. While the Company has always utilized organically sourced US Dept. of Agriculture approved industrial hemp in its products, “hemp”, defined as “the plant Cannabis sativa L. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis,” has now been officially removed from the Controlled Substances Act in the United States. While the Company is still assessing the various implications of the new law, the development is extremely positive for the Company and its future development plans in the U.S. and elsewhere.
The year 2018 proved to be a wild ride for the Cannabis Industry. The year began with unprecedented valuations and record capital raised for the industry, only in December to face the worst month for public markets since 1931. Management believes that despite the challenging and volatile markets, with the passage of the Farm Bill, demand for cannabis products will continue to expand and will outstrip current estimates, however, the market will demand trustworthy, research based products. The U.S. hemp market is currently estimated at roughly $800 million, the lion’s share of which is made up of CBD-based products. With the passage of the Farm Bill, some forecast that the market could increase to $20 billion by 2022. (CNBC, “Hemp legalization included in new farm bill could ‘open the floodgates’ on nascent industry” December 7, 2018).
GOALS FOR 2019:
- The Company is currently working with several strategic partners and investors and the new Board will be meeting early in the New Year to develop a financing strategy for the remainder of year. Ultimately, the Company’s goal is to fund all future operations and development through the sale of its products and services.
- The Company intends to differentiate the TOK brands to create a globally recognized company and develop a business to consumer model, utilizing the depth of its senior management team’s connections and experience.
- The Company has made multiple research and development agreements with major Universities in Canada. New formulations and targeted delivery methods are the focus of research and development in the coming year.
- The Company is working to expand its doctor networks and intends to pursue opportunities with several large retailers throughout the U.S., South America and the United Kingdom. The Company is also working on building a sales team in the U.S. and finalizing its international distribution deals. A key part of the Company’s immediate strategy is to educate doctors and patients in the Canadian market on the benefits of TOKI’s CBD products.
- The Company intends to expand its proprietary medical cannabis best practices education and research program to include all 72 existing Jack Nathan Health clinics in 6 Canadian provinces. The Company intends to open a new multi-disciplinary pain clinic in the first quarter of 2019, at the new Jack Nathan Health clinic located in Vaughan, Ontario.
- The Company intends to optimize its equipment utilization at its Spokane manufacturing facilities and expand its manufacturing capacity to keep up with predicted demand.
Jean-Paul Gaillard, CEO commented:
“We are now at a point where we can refine and execute on our strategy to create globally recognized brands grounded on our physician-led cannabis health care platform. We are truly excited to capitalize on our opportunities in 2019.”
YEAR TO DATE
Since becoming listed on July 9, 2018, TOK has achieved the following:
- Completed the acquisition and merger with Asterion Bio Med Inc. on December 19, 2018. Management believes that this single transaction has solidified the Company’s future as a platform for the aggregation of best-in-class partners to build a global biomedical company, scientifically focussed with proprietary formulations, and multiple innovative delivery technologies. The Company has access to 72 Jack Nathan Health clinics in six provinces across Canada for its education and research platform, with over 1.5 million patient visits annually.
- Raised $2.7 million in connection with the acquisition of Asterion Bio Med Inc.
- Developed world class products, of which its CBD air metered dosing pens and capsules are approved for the treatment of autism, Parkinson’s disease and treatment resistant epilepsy by the Government of Brazil for prescription by physicians. Current distribution capability exists in the United States, Brazil, the United Kingdom and China. Product lines have been submitted in 3 other countries, including Italy, for approval, expected by the end of Q1 2019.
- Retained renowned seasoned executive Jean-Paul Gaillard (former architect and leader of Nespresso and Marlboro Classics) to spearhead corporate growth. Also established a world class Advisory Board, staffed by industry-leaders.
- Empowered consumers with QR code access on smart phones so that customers can review third party lab results for the products they purchase.
- Received certifications from the Food Safety Authority of Ireland (FSAI) and is currently developing distribution channels for countries in Europe that will accept FSAI certifications and labelling through its subsidiary that meets all governmental standards to do business in the European Union.
- Established fulfillment centre for its production in the United Kingdom.
- Established a joint venture for future manufacturing at a facility in Macedonia.
About Jack Nathan Health®
Jack Nathan Health® is a privately owned and operated Canadian company that is dedicated to improving access to health care by partnering with highly qualified medical staff and delivering consistent, easy-access, patient-centric quality care in state-of-the-art medical and dental clinics within local communities where people live. A proud partner of Walmart Canada, Jack Nathan Health® medical and dental clinics are conveniently located inside Walmart Supercentres across Canada. Clinics are independently owned and operated and not affiliated with Walmart. Jack Nathan Health® is a registered trade-mark of Jack Nathan Medical, Inc. All representations contained herein are made solely by Jack Nathan Health® and are not independently verified by Walmart. All Walmart trademarks are the property of Wal-Mart Stores, Inc. and are used under license. For more information, virtual clinic tours, and social media links, visit www.jacknathanhealth.com.
ABOUT TREE OF KNOWLEDGE
The Company produces and sells hemp-based cannabidiol (“CBD”) products in certain jurisdictions in the United States, as well as in Europe, Brazil and China. The Company operates multidisciplinary pain clinics through its subsidiary Asterion Bio Med Inc. under the banner; Toronto Poly Clinic (collectively, “TPC”). Through an exclusive strategic alliance agreement with Jack Nathan Medical Inc., which operates over 72 Jack Nathan Health medical and dental clinics in six provinces across Canada, Asterion Bio Med has access to one of the largest healthcare systems across Canada for its education and research platform, with over 1.5 million patient visits annually. TPC is a healthcare leader in the ethical and controlled use of medical cannabis, managing over 4,800 cannabis patients. TPC has refined its collective knowledge and focused on the creation of the MCERP (Medical Cannabis Education, Research and Best Practice Platform) and MCORP (Medical Cannabis Opioid Reduction Program). Currently TPC has research agreements with multiple universities for medical cannabis research and new medical grade products development. TOK’s CBD product line contains EVR Premium Hemp Oil, which is an organically grown and handled, gluten-free, vegan, non-GMO, synergistic compound that is derived from U.S. Department of Agriculture (USDA) approved industrial hemp grown in the United States. TOK currently offers several CBD products, which may be used in connection with the treatment of a number of ailments and for general wellness purposes.
For further information about TOK, please contact the following:
Tree of Knowledge International Corp.
Tel: +1 (917) 295-1374
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Forward Looking Statements
This news release contains forward-looking statements relating to the future operations of TOK as combined with Asterion and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the company and the future plans and objectives of TOK, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from TOK's expectations are risks detailed from time to time in the filings made by TOK with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of TOK. As a result, TOK cannot guarantee that the Offer will be completed and that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and TOK will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.