ANB Canada and Teal Valley Health Announce Strategic Merger
TORONTO, Sept. 27, 2019 (GLOBE NEWSWIRE) — ANB Canada Inc. (“ANB”) and Teal Valley Health Inc. (“Teal Valley”) are pleased to announce the signing of a letter of intent to merge the respective companies. The resulting company will have more than two decades experience in turnkey Rx, over the counter (“OTC”) and Health and Beauty (“HABA”) sales and distribution to: Food, Drug, Mass, Club, Natural, Specialty, Convenience, and eCommerce retailers as well as the public sector in Canada. It will be experienced in customised packaging solutions and the extraction, formulation and manufacturing of cannabis and hemp related products. Both ANB and Teal Valley have a successful track record enabling brands, developing products and operating inside the framework of regulated markets in Canada.
“We are excited to continue our journey of helping our clients grow their brands in the Canadian market. Offering customised packaging, and cannabis and hemp solutions are natural add-ins to our services that position our clients for success. Teal Valley brings an accomplished team that is capable of executing for our clients, and we are confident that together Teal Valley and ANB will help our clients realise their potential” said Brent Larkan, CEO of ANB.“This is an important step in the evolution of Teal Valley and cannabis product brands”, said Trevor Folk, President and COO of Teal Valley. “The merger of ANB and Teal Valley offers turnkey scalable cannabis solutions for a world class list of pharma and consumer packaged goods clients. Teal Valley brings a wealth of experience and success in customized packaging and the extraction, formulation and manufacturing of cannabis products. We are certain that as regulations for the cannabis sector in Canada evolve with the emergence of Cannabis 2.0 regulations this merger will benefit all involved.”The merger is expected to be completed by the end of 2019. The resulting company intends to seek a listing on a recognized Canadian Exchange. There is no guarantee that the transactions as contemplated in the letter of intent will be consummated.About ANB Canada Inc.
Founded in 1995, ANB Canada Inc. is today a public company located in Ontario, Canada. ANB provides turnkey Rx, over the counter (“OTC”) and Health and Beauty (“HABA”) sales and distribution to companies that navigate regulatory guidelines and the Food, Drug, Mass, Club, Natural and Specialty, Convenience, eCommerce retailers and the public sector in Canada. ANB is vendor of record at Canadian retailers and possesses go to market intellectual capital, industry expertise and relationships, Canadian retail relationships, CPG and Pharma relationships, regulatory intellectual capital, and infrastructure to enable companies to effectively and successfully manage their brands. ANB’s services include retail head office representation; trade show representation; store sales and detailing; promotion planning and execution; go to market strategies; sales forecasting; budgeting; competitive analysis; logistics; temperature excursion monitoring; lot tracking; recall management; and payable and receivables management on behalf of clients. ANB possesses numerous regulatory licenses including a Drug Establishment License, Site License, Medical Device License and Food License. ANB is a public company and adheres to IFRS reporting standards.About Teal Valley
Teal Valley Health Inc. is a cannabis company headquartered in Toronto, Canada. Teal Valley has entered into a Definitive Agreement to acquire a licensed food and drug manufacturing and packaging facility into which it intends to add a state-of-the-art cannabis processing facility launching products in late 2019 designed for the new edible, extracts and topicals regulations. Subject to the completion of the acquisition of the manufacturing and packaging facility Teal Valley will manufacture intellectual property protected products for direct sale to medical cannabis users serviced on its Cannabis Electronic Medical Records Platform (CEMRP) and sell premium recreational brands to the provincial sales channels.For Further Information Contact:ANB Canada Inc.
Mr. Brent Larkan
Email: (647) 280-8901Teal Valley Health Inc.
Mr. Brett Walker or Mr. Trevor Folk
This news release contains forward-looking statements relating to ANB’s and Teal Valley’s plans and other aspects of their respective anticipated future operations, strategies, financial and operating results, and business opportunities. These forward-looking statements may include opinions, assumptions, estimates, management’s assessment of value, reserves, future plans, and operations. Although ANB and Teal Valley believe that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not rely unduly on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable law, ANB and Teal Valley does not undertake any obligation to publicly update or revise any forward-looking statements.