Entourage Health Announces Filing of Amended Financial Statements and MD&A

TORONTO, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Entourage Health Corp. (formerly WeedMD Inc.) (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE) (“Entourage” or the “Company”), a Canadian producer and distributor of award-winning cannabis products and brands, today announces that, as a result of a continuous disclosure review conducted by staff of the Ontario Securities Commission (“OSC”), the staff of the Corporate Finance Branch requested that the Company refile its management's discussion and analysis (“MD&A”) for the interim periods ended March 31, 2021 and June 30, 2021 and its unaudited condensed interim consolidated financial statements for the three months ended March 31, 2021 (collectively, the "Revised Financial Disclosure").

On the request of the OSC staff, the Company is filing the Revised Financial Disclosure to reclassify certain loan balances from non-current to current liabilities and to provide additional information in connection with the Company's liquidity, capital resources and its ability to continue as a going concern. No further adjustments have been made to the previously released income statement or statement of cash flows.

About Entourage Health Corp.

Entourage Health Corp. (formerly WeedMD Inc.) is the publicly traded parent company of WeedMD RX Inc. a licence holder producing and distributing cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed Medicinal, a medical-centric brand, Entourage has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements Entourage’s direct sales to medical patients. In July 2021, Entourage signed a definitive agreement to acquire craft cultivator CannTx Life Sciences Inc. which operates out of its state-of-the-art micropropagation and specialty extraction facility in Guelph, Ontario. Upon the expected closing in the fall of 2021, craft brand Royal City Cannabis will be added to Entourage’s elite product portfolio. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well as eight provincial distribution agencies where adult-use brands Color Cannabis and Saturday Cannabis are sold. Entourage is also the exclusive Canadian producer and distributor of award-winning U.S.-based wellness brand Mary’s Medicinals sold in both medical and adult-use channels.