Alternate Health’s CBD Business Arrives in Asia
TORONTO – March 17, 2020 – Alternate Health Corp., (“Alternate Health” or the “Company“) (CSE:AHG) (OTCQB:AHGIF), an international leader in CBD product development and distribution, announced today that the Company has signed an exclusive sales agreement with Interadigm Shd. Bhd. (“Interadigm”) to market the Company’s online CBD education program throughout Malaysia, with ongoing negotiations to expand into clinical trials and CBD product distribution.
“As we have seen from the excitement created after Thailand’s recent removal of CBD from its controlled substances list, the CBD industry is beginning to heat up in Southeast Asia,” says Howard Mann, CEO of Alternate Health. “With its prosperous economy and business-friendly policies, we are excited to work with both Malaysian healthcare companies and government agencies as the industry develops.”
Alternate Health’s agreement with Interadigm is the first step of the Company’s strategy in Malaysia. Beyond education, Alternate Health is actively negotiating with national healthcare companies and government agencies to develop new business opportunities in CBD product distribution throughout Malaysia. As a key member of the Association of Southeast Asian Nations (ASEAN), the Company expects developments in Malaysia’s regulations to be influential for the industry across the region.
“Local government is currently reviewing changes to laws and regulations surrounding hemp and medical cannabinoids, and Alternate Health is well positioned to offer management and oversight,” says Howard Mann. “We see Malaysia as an excellent base to begin our expansion throughout the ASEAN region.”
Headquartered in Malaysia’s capital, Kuala Lumpur, Interadigm is the country’s leading provider of corporate training programs. Interadigm develops programs on a wide variety of topics for global clients in industries ranging from industrial chemicals and petroleum to technology and higher education. Interadigm will act as Alternate Health’s exclusive sales and marketing agent throughout Malaysia, with the option to expand to other countries in the region.
Interadigm will offer Alternate Health’s CBD Education program through the Company’s subsidiary Alternate Medical Media (“AMM”). AMM has two online certification programs teaching the latest scientific research on CBD and the endocannabinoid system. Consisting of 10 interactive modules, the program was adapted from Continuing Medical Education (CME) courses.
Resignation of Director
The Company would also like to announce that Dr. Michael Murphy has tendered his resignation from Alternate Health’s Board of Directors, effective immediately. Dr. Murphy has decided to focus on his private medical practice in San Antonio, Texas.
“Alternate Health would like thank Dr. Murphy for his years of service to the Company and wish him well in the future,” says Howard Mann. “We recognize that Dr. Murphy has made significant personal financial contributions while stabilizing the Company, especially as the industry has recently struggled.”
Update on Private Placement
Alternate Health would also like to provide a correction with respect to the non-brokered private placement previously announced in a press release on February 19, 2020. The company will issue 13,599,216 units at a price of CAD $0.15 (USD $0.11) per unit for aggregate proceeds of CAD $2,039,882. Each unit is comprised of one common share and one share purchase warrant at an exercise price of CAD $0.30 for an 18-month term.
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, CA, and Santa Fe Springs, CA. 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.
Scott Holtby | Investor Relations
Jim Tykoliz | Company Director