Ehave to Explore Strategic Alternatives
OAKVILLE, Ontario, Oct. 16, 2018
OAKVILLE, Ontario, Oct. 16, 2018 /PRNewswire/ -- Ehave, Inc. (OTCQB: EHVVF), a healthcare company dedicated to empowering the medical cannabis and mental health communities with next-generation digital solutions, announced today that its Board of Directors, supported by its management team, has engaged in a process of exploring strategic alternatives focused on enhancing shareholder value. Strategic alternatives to be considered may include a sale of the company, a merger or other business combination with another party, continuing with the current business plan, or other potential alternatives.
"Over the past year, we have made important investments and progress in our core business of our medical cannabis and mental health informatics platform," said Prateek Dwivedi, Ehave's CEO. "We also acknowledge previously expressed and new interest in Ehave and an active transaction environment and believe considering strategic discussions, whether partnership, investment, merger or sale, in an organized manner is appropriate and timely. Through this process, our Board is committed to evaluating strategic alternatives that enhance value for our shareholders while simultaneously supporting the company's management and employees in their ongoing efforts to deliver high quality evidence based tool sets to the markets that Ehave serves. While the Board strongly believes in the company's current business strategy, it also believes in that pursuing these complementary paths is in the best interest of Ehave's shareholders."
The company will release more details when the Board gives direction after its review of strategic alternatives. There can be no assurance that the exploration of strategic alternatives will result in any transaction or other alternative.
Ehave, Inc. (OTCQB: EHVVF) is empowering the medical cannabis and mental healthcare community with a next generation of data-rich tools designed to improve patient management, diagnosis and treatment. With Ehave Connect, Ehave's mental health informatics platform, clinicians can make objective, data-driven decisions while keeping patients informed and engaged throughout their mental healthcare journey. Ehave Connect offers a powerful set of core features that integrate with a growing selection of tools and applications developed by Ehave and its leading partners, including Multi-Health Systems ("MHS"), a leading publisher of psychological assessments. Ehave is initially focused on improving the standard of care in attention deficit hyperactivity disorder ("ADHD"), through its collaboration with the Hospital for Sick Children ("SickKids"). Ehave Connect is also being utilized to advance the validation and optimization of medical cannabis, through its collaboration with leading medical cannabis licensed producers. www.ehave.com
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company's research, manufacturing and other development efforts; (ii) the Company's ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company's products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company's industry and introduction of competing products; (vi) the Company's ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Ehave, Inc.'s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.
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