Acquisition to Double Chain Size/Cement Largest Clinic in Arizona
VANCOUVER, BC, May 11, 2021 /CNW/ - Delic Holdings Inc. ("DELIC" or "the "Company") (CSE: DELC) (OTCQB: DELFC) a psychedelic wellness platform, is pleased to announce that its acquisition target (under binding letter agreement see news release dated February 4, 2021), Ketamine Infusion Centers ("KIC"), proposes to acquire two (2) additional licensed ketamine clinics in Arizona. The proposed acquisition would double the footprint of the infusion chain and become the largest operator in the state of Arizona.
"This is a major step toward becoming the largest ketamine clinic operator in the country, bringing superior quality and expanding access for patients," said Matt Stang, Delic CEO and co-founder. "KIC is the leading name in high quality care and incredible outcomes for its patients and this move helps grow that reputation significantly. As a vital part of the Delic platform, KIC will continue to offer wellness and benefits for many people suffering from anxiety, depression and PTSD."
Over the past three years, the team at KIC has expanded from Arizona to California, while overseeing 4,000 treatments administered to date, and generating more than $1.5-million (U.S.) in revenue. KIC continues to operate under the Delic umbrella, under the direction and guidance of Dr. Christopher Ray, Sonny Diaz, Rogelio Monzon and Ganesh Acharya. With the successful completion of the acquisition, KIC will expand to 3 clinics in Arizona, with locations in Central Phoenix, East Valley, and West Valley, and 1 in California, with a location in Bakersfield.
Sonny Diaz, co-founder of KIC, stated: "We are thrilled to join the Delic family and double our footprint with this acquisition, allowing greater access to patients for these vital services. Ketamine Infusion Centers unique model and passion to obtain the highest patient outcomes and purely evidence-based practices is a perfect fit in the Delic ecosystem. Together with their vast knowledge of psychedelic wellness, strong partner channels and mission to bring psychedelic wellness into the mainstream, we see unlimited potential of how many lives we may positively affect together."
As part of these two sublease transactions, KIC will assume ownership of both licences, which contain the OTC licenses for the respective locations at no additional costs. KIC will submit the necessary paperwork to the State of Arizona to complete the license transfer processes.
About Ketamine Infusion Centers
Ketamine Infusion Centers ("KIC") is a limited liability corporation formed under the laws of Arizona, which owns and operates two ketamine infusion treatment clinics, one in Phoenix, Arizona and the other in Bakersfield, California. Supported by clinical trials and peer reviewed studies, ketamine infusions have emerged as a promising treatment option for chronic diseases and pain disorders.
DELIC Always Expanding. In All Ways.
DELIC is the leading psychedelic wellness platform, committed to bringing science-backed benefits to all and reframing the psychedelic conversation. The company owns and operates an umbrella of related businesses, including trusted media and e-commerce platforms like Reality Sandwich and Delic Radio, Complex Biotech Discovery Ventures (under binding acquisition agreement) the first licensed entity by Health Canada to conduct research and development of psilocybin vaporization technology, MeetDelic the premiere psychedelic wellness event, and Ketamine Infusion Centers (under binding acquisition agreement), one of the largest ketamine clinics in the country. DELIC is backed by a team of industry and cannabis veterans and a network whose mission is to provide education, research, high-quality products, and treatment options to the wellness and psychedelics industries.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of DELIC's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, closing of the Transaction, the growth and business of CBDV, potential earn out payments, anticipated continued growth in the health and wellness sector (and, in particular, related to psychedelics), the continued emergence of psychedelics from stigmas, the ability of the Company to maintain sensible messaging, the ability of the Company to avoid dogmatic practices and binary rhetoric, the ability of DELIC to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, DELIC is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of DELIC to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, DELIC has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of KIC to consummate the transactions; the ability to satisfy the conditions to closing of the transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the acquisition on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the transaction.
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although DELIC believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and DELIC does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to DELIC or persons acting on its behalf is expressly qualified in its entirety by this notice.
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SOURCE Delic Holdings Inc.
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