Abba Medix Corp, a wholly-owned subsidiary of Canada House Cannabis Group Inc (OTCMKTS:SARSF), signed a deal with Pure Extracts Technologies Corp (OTCMKTS:PRXTF). As per the terms of the cannabis 2.0 agreement, Abba Medix will engage in Pure Extracts’ distribution concentrates using its established channels.
CEO of Canada House, Chris Churchill-Smith, said the company is excited about Pure Extracts’ brand presence in Western Provinces and pleased to work with its team. The company will also support the commercialization efforts of Pure Extracts under a mutually beneficial relationship.
Introduces Veterans Kush
Abba Medix unveiled Veterans Kush, specifically manufactured with PTSD for Veterans under a deal with InPlanta Biotechnology.
The company released this innovative strain after seven years under development. Darryl Hudson played a vital role in developing this strain after assessing various cultivars’ efficacy to cure PTSD and associated conditions. A Veteran advocate of Canada House and Abba Medix, Glen Coyle, said he is pleased with this specific strain and helps treat chronic pain and combat associated PTSD.
Glen said Veterans Kush relieved him from chronic pain and provided much relief. He is excited that fellow sisters and brothers will benefit from this innovative treatment. Commenting on the launch, Hudson said Canada House played a vital role in bringing this cultivar to Veteran communities’ benefit.
Canada House Revenues in Q2 2021
Canada House reported revenues of CAD 2.263 million (up 75% YoY) in Q2 2021. Its loss increased to CAD 2.059 million from $1.717 million in Q2 2020. Commenting on the results, Chris said the company posted better revenues in this quarter because of growth in recreational and medical cannabis markets. He further said the company is receiving positive feedback from medical patients for product offerings of Abba Medix.
Following success in improving sales in the medical segment, Canada House focuses its sights on recreational cannabis sales in BC, Alberta, Quebec, and other provinces across the nation. The company mobilized funds of $2 million through non-dilutive funding and intends to use them for working capital needs and finance recreational growth.
Signs a pact with Rubicon Organics
Canada House entered a pact with Rubicon Organics on October 26, 2020, to distribute cannabis 2.0 products. As per the terms of the deal, Abba Medix will engage in distributing concentrates of Rubicon.