Pathway Health Corp. Announces Letter of Intent to Acquire Assets of National Cannabinoid Clinic

TORONTO, March 4, 2022 /CNW/ - Pathway Health Corp. (TSXV: PHC) (Frankfurt: KL1) (formerly Colson Capital Corp.) ("Pathway" or the "Company"), an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions, announces that it has entered into a Letter of Intent (the "LOI") to acquire the operating assets of National Cannabinoid Clinics Inc. ("NCC").  The acquisition of NCC's operating assets adds approximately 1,500 active patients to the Company's existing base and continues to expand the Company's telemedicine footprint in Canada. Management expects to close the transaction in the second quarter of the fiscal 2022. 

"The potential tuck-in acquisition of NCC's operating assets will continue to expand the number of patients across Canada that have access to our products and services," said Ken Yoon, CEO of Pathway Health. "We believe using cannabinoids for medical purposes is in its infancy in Canada," continued Yoon, "and with our strong partnership position with some of the largest Canadian retail pharmacy corporations, we are well positioned for the cannabinoid-based health products ("CHPs") opportunity."

About Pathway Health
Pathway Health is an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions. The Company owns and operates nine community-based clinics across four provinces where its team of health professionals work together to help patients through a variety of evidence-based approaches and products, including medical cannabis. Pathway Health's patient care programs utilize an interdisciplinary approach that is guided by trained pain specialists, physical and occupational therapists, psychologists, nurses, and other healthcare providers. Pathway is also the leading provider of medical cannabis services in Canada and has established itself as the leading partner with national and regional pharmacy companies for the delivery of medical cannabis services to their customers. The Company is working with several pharmacy companies on the development of Cannabis Health Products (CHPs) for OTC product distribution through retail pharmacy locations across the country following anticipated changes to the Cannabis Act.

For more information, visit Pathway Health's website: www.pathwayhealth.ca 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. 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 that 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: general business, economic, competitive, political and social uncertainties; delay or failure to receive applicable approvals; and the results of operations. 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 forward-looking statements. Pathway disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press Release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

SOURCE Pathway Health Corp.