TORONTO, Feb. 06, 2020 (GLOBE NEWSWIRE) -- This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the acquisition of securities of Canada House Wellness Group Inc. (CSE: CHV) (“Canada House” or the “Company”) by Mr. Michael Southwell (“Mr. Southwell” or the “Acquiror”).

The Acquiror announces that, on February 5, 2020, Mr. Southwell received 30,000,000 common shares of the Company (“Common Shares”), issued from treasury by Canada House,  pursuant to a debt settlement agreement with the Company, all as previously disclosed by the Company by press release on January 22, 2020.

Prior to February 5, 2020, the Acquiror owned or had control or direction over an aggregate of 34,512,505 Common Shares representing approximately 13.78% of the Company’s issued and outstanding Common Shares. Mr. Southwell also owns or has control or direction over options to acquire up to 1,200,000 Common Shares and Warrants exercisable for up to 9,429,666 Common Shares.

After giving effect to the issuance of Common Shares by the Company to Mr. Southwell under the debt settlement agreement, Mr. Southwell owns or has control or direction over an aggregate of 64,512,505 Common Shares representing approximately 20.78% of the Company’s outstanding Common Shares. Assuming the exercise in full of the options and the warrants, the Acquiror would own or have control or direction over an aggregate of 75,142,171 Common Shares representing approximately 23.41% of the Company’s Common Shares.

The Acquiror acquired the Common Shares for investment purposes and may, depending on market and other conditions, increase, decrease or change its beneficial ownership over the Common Shares or other securities of the Company through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. The Acquiror intends to donate 20,000,000 of his Common Shares to a non-profit organization named Global Alliance Foundation Fund.

A copy of the Early Warning Report filed under applicable securities laws is available under the Company’s profile on SEDAR (www.sedar.com). A copy of such report may also be obtained by contacting DS Lawyers Canada LLP, the Acquiror’s legal counsel, at kwells@dsavocats.ca.

The name and address of the “Acquiror” filing the report is:
Michael Southwell
14 Elkhorn Street
Lincoln, New Brunswick