TOKI Structures its LOI to Heighten Research, Expand Production and Distribution, and Provide Advanced Resources to its Expanded Clinic Network
Scarborough, ON - (NewMediaWire) - March 18, 2019 - Tree of Knowledge International Corp. (CSE: TOKI; OTC PINK: TRKWF) (the "Company" or "TOK") is pleased to announce that the Company has entered into a letter agreement (the “Letter Agreement”) with Northern Green Canada Inc. (“NGC”), a licensed producer, to create a Strategic Alliance to serve the Medical Cannabis sector in Canada, with a longer term view to market expansion into the US and international markets through collaborating partnerships.
Northern Green Canada is a private, federally licensed cannabis producer based in Ontario, focused on providing high quality, pharmaceutical grade products for enhanced quality of life. NGC was founded by a drive to create a company dedicated to helping others through the responsible use and innovation of medical cannabis. They operate out of their 90,000 square foot location in Brampton, Ontario, equipped with state-of-the-art cultivation facilities. NGC is currently selling flower and is in the process of having its license amended to include oils. In addition to an expert grow team, NGC management includes medical doctors and pharmaceutical personnel. NGC is aligned with respected partners to develop cannabis-infused edibles and drinks to broaden its product portfolio as legislation permits.
Dr. Kevin Rod, Medical Advisory to TOK, commented: “We were extremely impressed with NGC’s facilities and its commitment to excellence. NGC shares TOK’s passion for Opioid reduction and is currently involved in its own 2 year study. We see real synergies between the focus and goals of NGC and TOK’s own research initiatives and proprietary Opioid reduction program MCORP (Medical Cannabis Opioid Reduction Program).”
The Letter Agreement provides for the companies to work together on three strategic pillars to broaden their collective footprint in the Canadian Medical Cannabis market: (1) Medical Cannabis Research and Education; (2) Product Development and (3) Servicing of Medical Cannabis Patients. Subject to completion of due diligence, the Letter Agreement contemplates the parties entering into one or more agreements on or before March 29, 2019, to achieve the following objectives:
- The development of formulations by TOK and the licensing of those formulations along with TOK’s proprietary delivery system (its AMP dosing system);
- The cultivation, manufacturing and processing of the formulations created by TOK by NGC and the corresponding distribution in Canada by NGC to its “regulated clients” as set out in the Cannabis Regulations;
- Development of joint education materials and programs for Health Care Providers about the uses and benefits of cannabis;
- Assistance from TOK with the registration of clients with NGC for the supply of medical cannabis, as permitted by law;
- The provision of office space by NGC to TOK in its facility for TOK staff to be onsite and participate in the planning and production processes to be conducted by NGC under the agreements; and
- NGC using its existing partner networks to assess the expansion of distribution beyond Canada to the US and International markets.
As consideration for the respective obligations of the parties and in order to align their respective interests, the Definitive Agreement will include the issuance of 10,000,000 common shares by TOK to NGC and the issuance of a 5% equity stake in NGC to TOK (subject to a valuation to be done for NGC).
The Letter Agreement with Northern Green Canada builds on TOK’s commitment to deliver access to the highest quality care with its agreement with Pancare Consulting Inc. and Onsite Medical Group for the operation of a multi-specialty pain management facility located within the new Jack Nathan Health® Medical Centre launched March 7, 2019 at the Walmart store in Vaughan, Ontario (see Press Release March 5, 2019). Jack Nathan Clinics are independently owned and operated under license by Jack Nathan Medical Inc., 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® or its licensed owner operators, and 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
With its head office in Toronto and operations in North York, Ontario and Spokane, Washington, TOK currently has three primary business segments: (1) Multidisciplinary specialty pain clinics with a focus on the treatment of chronic pain, including controlled applications of medical cannabis in Canada, (2) 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 (3) Distribution and sale of hemp-based cannabidiol (“CBD”) products in the United States, Canada, Europe, Brazil and China. Through its Toronto Poly Clinic, the Company has gleaned extensive expertise from being involved in one of the largest observational clinical trials on medical cannabis and from its ongoing direct patient experience. The Company has developed and implemented MCERP (Medical Cannabis Education, Research and Best Practice Platform) and MCORP (Medical Cannabis Opioid Reduction Program) with great success. Currently the Company 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.
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 benefits to be received from entering into agreements with NGC and the timing thereof, the future operations of TOK 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 agreements with NGC 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 any agreements will be completed with NGC 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.
For further information please visit: www.tok.ca or contact: Tree of Knowledge International Corp. Michael Caridi, Director of Business Development Tel: +1 (917) 295-1374 Michael@tok.ca