Sativa Wellness Group Announces the Launch of 8 More COVID Testing Facilities
Sativa Wellness has reported COVID testing revenues reaching C$46K (£27K) daily in December from its clinics in Bath and Bristol. The company has expanded its facilities, opening its tenth testing site and planning to launch an additional twenty in-pharmacy clinics. Sativa is well positioned for growth with the anticipated easing of UK travel restrictions. Recent restructuring has enhanced its cash reserves, and the company expects substantial increases in new wellness revenue streams and recovery in CBD revenues as retail activity resumes.
- Daily COVID testing revenue hit C$46K in December.
- Opened tenth testing facility with plans for twenty more.
- Company well-placed to benefit from easing travel restrictions.
- Restructuring improved cash reserves.
- Anticipated increase in new wellness revenue streams.
- None.
VANCOUVER, BC / ACCESSWIRE / February 22, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) ("Sativa Wellness" or the "Company") Sativa Wellness is pleased to announce that our UK Bath and Bristol Goodbody clinics booked up to C
Having proved the testing model in Bath and Bristol, we have rolled out a number of in-pharmacy clinics and today we open our tenth testing facility with a further twenty in-pharmacy clinics in process.
Current UK clinics are located in:
Bath
Bristol
Swindon
Exeter
London
Reading
Cardiff
Newport
Southampton
Cheltenham
The Company is well placed to benefit from the expected easing of UK travel restrictions at the end of this lock down period.
Geremy Thomas, Executive Chairman, says: "The prospects for the company are very positive. Recent restructuring has improved our cash runway, ensuring our cash reserves remain robust. With new wellness revenue streams set to increase substantially and existing CBD revenues are anticipated to rebound as the High Street recovers from the pandemic."
The Directors of the Company accept responsibility for the contents of this announcement.
Further information regarding the Company can be found at www.sedar.com.
On behalf of the Board of Directors,
Geremy Thomas
Executive Chairman
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com
www.sativawellnessgroup.com
Joseph Colliver
Chief Financial Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com
www.sativawellnessgroup.com
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
This news 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 Stillcanna'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" "plan is" 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", "will be achieved" or "shortly". The forward-looking information and forward-looking statements contained herein include, but are not limited to information concerning the COVID-19 testing clinic, the number of in-pharmacy clinics to be opened, the expected easing of UK travel restrictions, the Company's position to benefit from any easing of UK travel restrictions, the number of new clinics to be opened, the expected easing of the travel restrictions, the cash runway and cash reserves of the company, new revenue streams, the rebound of CBD revenues and the recovery of the high street.
Although Sativa Wellness 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. In particular, there is no guarantee that any further clinics will be opened, that wellness revenue will increase, CBD revenues will rebound or that the cash runway and cash reserves will remain robust. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and Sativa 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.
SOURCE: Sativa Wellness Group Inc.
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