Alternate Health Set To Monetize Software Databases
TORONTO – August 22, 2019 – Alternate Health Corp., (“Alternate Health” or the “Company“) (CSE:AHG) (OTCQB:AHGIF), an international leader in CBD extraction, product development and distribution, announced today that the Company plans to monetize its extensive software and education databases of over 60,000 contacts through a targeted marketing program for its hemp-derived CBD products.
“Over the past two years, Alternate Health has built a highly targeted database of physicians, patients, educators and wellness practitioners through our education and medical software systems,” says Howard Mann, CEO of Alternate Health. “We see huge potential in our software assets as we start monetizing our data in support of our growing line of hemp-derived CBD products, including Hempnesic.”
As previously announced in a news release on July 30, 2019, Alternate Health generated $1.9 million in second quarter (Q2) revenue this year, with only approximately $613,000 as the cost of goods sold. Blaine Labs performance demonstrates that the Company has the expertise and capacity to meet the growing demand for CBD products.
Alternate Health currently has an aggregate total of over 60,000 contacts with a demonstrated focus in cannabinoid medicine, across Blaine Labs and the Company’s software assets. The databases include Alternate Health’s electronic medical records (EMR) systems, FlorPass and CanaPass, active in Florida and across Canada and the Company’s active contacts and social media database of Alternate Health’s education subsidiary, Alternate Medical Media.
Stock Issuance and Option and Warrant Grants
Under its stock option plan, the Company has granted a total of 40,000 stock options to a consultant at an exercise price of $0.40 per share for a term of one year, in accordance with the terms of the Company’s stock option plan. The Company has also granted 150,000 common share purchase warrants to a consultant of the company at an exercise price of $0.65 per share at a two-year term and 1,000,000 common share purchase warrants to a consultant at an exercise price of $0.70 per share and a three-year term. The company has also agreed to issue 606,950 common shares of Alternate Health to a consultant at a deemed price of $0.40 per common share as consideration for past services rendered.
Resignation of Director
The Company would also like to announce that, due to increasing commitments in other activities, Jeff Langenbach has tendered his resignation as Director of Alternate Health’s Board. The Company would like to thank Jeff Langenbach for his assistance while serving as a Director and wish him well in his endeavours.
ABOUT ALTERNATE HEALTH
Alternate Health (CSE: AHG, OTCQB: AHGIF) is an international leader in the hemp-derived CBD industry, including product development and distribution. Through Alternate Health’s subsidiary, Blaine Labs, the Company has 23 years of experience in FDA-registered and cGMP medical product manufacturing and distribution, with over 50 product SKUs available from major retailers, including Walmart, Amazon, CVS and Walgreens. Alternate Health’s innovative software systems provide the platform for the company’s diverse operations, including CBD product distribution, hemp-derived extract manufacturing, blockchain tax collection systems and electronic medical records (EMR) platforms.
Alternate Health’s corporate office is located in Toronto, Canada, with additional offices in Venice, California, and San Antonio, Texas. The Company is well positioned to reinvest internal operating cash flow in its platform and product development over the long term, creating an attractive investment profile for its shareholders.
For more information about Alternate Health Corp., visit www.alternatehealth.com.
Jim Griffiths | Investor Relations
Jim Tykoliz | Company Director
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. The Company has relied on a number of assumptions and estimates in making such forward-looking statements including the prospects for development of the Company’s products and the Company’s ability to generate cash flows. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such acquisitions, product development, or cash flow generation to be materially different from those expressed or implied by such forward-looking information statements including, without limitation, whether such acquisition or product development will be completed and generate commercially viable cash flows, the need for additional funding to continue development efforts, and changes in general economic, market and business conditions.