NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Los Angeles — May 8, 2018 — BLVD Centers Corporation (the “Company”) announced today that it has submitted an application to the Canadian Securities Exchange (the “CSE”) to list its common shares on the CSE. Once approved, the Company plans to apply for a voluntary delisting of its common shares from the TSX Venture Exchange (“TSXV”), subject to necessary regulatory approvals.
The Company’s move from the TSXV to the CSE follows several announcements since the start of 2018 highlighting plans to expand its product and services offering into the US cannabis market, possibly through direct sales of marijuana. The move to the CSE will give the Company a clear path to expand into the US cannabis market and/or acquire companies associated with selling, growing or processing cannabis outside Canada in compliance with the stock exchange its shares trade.
“Our move to the CSE is a strong first step toward potentially expanding into the US cannabis market” said Chris Heath, CEO of the Company. “While there is still much to be done, our current business is well positioned to act as a platform for that expansion. It has become clear to me that our current business, as it stands today, does not have the growth potential I once thought it did. I believe that expanding into the cannabis market through the prism of addiction services gives us an advantage over others in the market. It provides a potential opportunity for significant revenue growth and cash flow and, most importantly, it gives our shareholders the potential opportunity to benefit from the excitement surrounding the cannabis industry. In the last five quarters, I have worked to stabilize and grow our rehab centers. While I have had success in cutting costs and we have seen some quarters with slight increases in revenues, the overall business needs a new catalyst. I will continue to work to ensure our business platform can be used as a foundation for our expansion into the cannabis space.” Continued Mr. Heath, “I am greatly looking forward to sharing our progress and further updates with the markets soon as we get the business and the team ready for this exciting potential expansion to our current addiction treatment business”.
Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to the Company, including: the Company voluntarily delisting from the TSXV and listing on the CSE; the Company expanding its product and services offering into the US cannabis market; the Company acquiring companies associated with selling, growing or processing cannabis; are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including: the Company successfully delisting form the TSXV; the Company being approved for listing of the CSE; and the Company finding accretive ways to monetize the expansion of its offering into the US cannabis market. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to implement business strategies and pursue business opportunities; the state of the capital markets; the availability of funds and resources to pursue operations; decline of reimbursement rates; dependence on few payors; possible new drug discoveries; a novel business model; dependence on key suppliers; granting of permits and licenses in highly regulated businesses and industries; competition; changes in healthcare regulations or insurance coverage, particularly those relating to mental health or younger citizens; difficulty integrating newly acquired businesses; the time, outcome and cost of any inquiries, audits or litigation with insurance providers, or federal, state or local regulators; low profit market segments; fluctuations in exchange rates; investing in companies or projects which have limited or no operating history and/or are engaged in activities currently considered illegal under US Federal laws; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry; general economic, market and business conditions, as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
BLVD Centers Corporation
Chief Executive Officer