Orange, CA, Feb. 14, 2017 (GLOBE NEWSWIRE) -- Supurva Healthcare Group, Inc. (OTC PINK: SPRV), Giorgio Johnson, new interim CEO and President of Supurva Healthcare Group, Inc. is pleased to announce the board of directors’ approval of the Company redefining its business model for 2017 and beyond. The Company will be divesting its interests in onsite health care and refocusing on the acquisition and development of Medical Cannabis Dispensaries and other related industry ventures, including cultivation, processing and packaging of products being distributed throughout the Canadian and US Medical Cannabis markets. We look forward to executing on our business model.
Canadian Cannabis Market
There are currently 37,400 medical marijuana users recognized by Health Canada, but officials project that number will swell more than 10-fold, to as many as 450,000 people, by 2024.The profit potential is enormous. A gram of dried marijuana bud on the street sells for about $10 and Health Canada projects the legal cannabis will average about $7.60 next year, as producers set prices without interference from government. Revenues for the burgeoning new industry are expected to hit $1.3 billion a year by 2024, per federal projections. And operators would be favorably positioned were cannabis ever legalized for recreational use, as it has been in several American states. Supurva believes this is a strategic expansion into the Medical Cannabis markets.
“We are very excited about the opportunities for revenue opportunities unfolding folding for us in the rapidly growing Medical Cannabis market” Mr. Johnson remarked. “We are currently in negotiations with a major Canadian brand on the acquisition of our initial retail dispensary, which will generate revenue 60 days after closing, further details, including closing dates, on the acquisition will be released in the coming weeks.”
About Supurva Healthcare Group, Inc.
Supurva Healthcare Group, Inc., a Delaware Corporation, is a healthcare holdings company based in Orange, California.
Forward Looking Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Supurva Healthcare Group, Inc. is a healthcare holdings company. At the time of this release Supurva Healthcare Group, Inc. lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Supurva would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risk not mentioned may apply: failure to meet Supurva's financial and contractual obligations, Supurva's managerial errors made based upon the Company's limited experience and knowledge of the industry, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements