Westleaf Added to World's First and Largest Cannabis ETF
CALGARY, March 22, 2019 /CNW/ - Westleaf Inc. (TSX-V: WL) (OTCQB:WSLFF) ("Westleaf"), is pleased to announce it has been included on the Horizons Marijuana Life Sciences ETF ("HMMJ") ("TSX:HMMJ"). HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index, net of expenses. This index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the cannabis industry. The North American Marijuana Index selects from a current universe of companies that have operations that may include one or more of biopharmaceuticals, medical manufacturing, distribution, bio-products and other ancillary businesses related to the cannabis industry.
We believe the inclusion of Westleaf in the HMMJ is validation that we have laid out an appropriate strategy, that we are showing progress in our execution and that the vertical integration business model is the right approach in an industry that is going through early life-cycle changes
said Scott Hurd, President and CEO of Westleaf.
HMMJ is the world's first ETF that offers direct exposure to North American listed securities involved in the cannabis industry. The fund is designed to provide exposure to the performance of the North American publicly listed cannabis companies with significant activities. The fund was established in 2017 and currently has net assets of more than $1.03 billion (as of 2019-03-20) and is listed on the TSX.
Westleaf is a vertically integrated cannabis company focused on innovative retail experiences and engaging cannabis brands as well as cultivation, production and extraction of cannabis products. Westleaf is rolling out a national retail footprint for its retail concept Prairie Records, with stores planned for British Columbia, Alberta, Saskatchewan and potentially Ontario. The retail concept leverages the instinctual tie between recreational cannabis and music and redefines the cannabis purchasing experience. The Company also has two significant production facilities under construction and scheduled for completion in 2019. For more information, please visit http://www.westleaf.com or www.prairierecords.ca.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. This news release, forward-looking statements relate, among other things, to: (i) rollout of retail locations; (ii) timing and completion of Westleaf's production facilities; and (ii) the business and operations of Westleaf. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: receipt of retail licenses from regulatory bodies and the lifting or loosening of the moratorium on new cannabis retail licenses in Alberta; timing and completion of construction of retail locations; review of facilities by Health Canada and receipt of a license from Health Canada in respect of Westleaf's production facilities; general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Westleaf assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE Westleaf Inc.