Wesana provides an update on the construction of a third clinic


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CHICAGO and TORONTO, March 11, 2022 (GLOBE NEWSWIRE) — Wesana Health Holdings Inc. (“Wesana” or the “Company”) (CSE: WESA; OTCQB: WSNAF), a data-driven life sciences company focused on developing new therapies of tomorrow and delivering new paradigms of care today, today announced construction is underway for its third health clinic Mental, which should open its doors in the spring of 2022.

This new 3,000 square foot facility will be located in the southwest part of Naperville, Illinois and will be overseen by Dr. Abid Nazeer, Naperville native and Wesana’s Chief Medical Officer. The psychiatrist-led clinic will focus on service to the community through the delivery of innovative personalized psychiatric care, including ketamine therapy, medication management, psychotherapy, cognitive testing and pharmacogenetic testing. It will also be the first clinic to offer Deep Transcranial Magnetic Stimulation in Naperville, which has been shown to be effective as a treatment for conditions such as major depression, OCD, anxiety depression, and more.

“Chicagoland is our primary market and we are excited to begin construction on our new clinic. Recently, we surpassed the milestone of 4,000 ketamine treatments administered for major depressive disorder, anxiety, PTSD and substance abuse — proof of the breadth of our offerings and the magnitude of the need in our region,” said Dr. Nazeer. “As someone with strong ties to Naperville, including having grown up in the city, it is especially important to me to bring advanced mental health treatments available today, to this wonderful community.”

Wesana Clinics (currently doing business as APS Ketamine) has a strong regional presence, operating a clinical network that includes two flagship mental health clinics strategically located in Oak Brook and downtown Chicago. Since 2016, under the leadership of Wesana’s Chief Medical Officer, Dr. Abid Nazeer, the clinics have helped thousands of patients through integrated treatment and a holistic therapeutic approach.

“Meeting the ever-growing need for mental health care is at the heart of Wesana’s mission,” said Meghna Agarwal Gaeta, Chief Marketing Officer of Wesana. She added, “We are excited to take this step toward expanding our care delivery area in Naperville and surrounding towns.”

The Company entered into a 10-year lease, with a rent-free period until August 1, 2022, which provides for fixed annual rent increases throughout its term. The construction of the facility is expected to cost around US$250,000.

Investor Relations AgreementThe Company also announces that it has entered into an Investor Relations Agreement with Future Money Trends LLC and its affiliates (“FMT“), a limited liability company located in Austin, Texas. The agreement is for an initial term of sixty days, beginning March 11, 2022, at a cost of US$500,000. FMT will provide financial reporting services and digital marketing to the Company. Pursuant to the Agreement, FMT will seek to raise public awareness of the Company, including its social media presence, and promote the Company’s business.

Future Money Trends LLC723 W. University Ave. #110-283, Georgetown, TX, [email protected]

About Wesana Health

Wesana Health helps people transcend mental health and performance barriers. We innovate in the development of care through our patent-pending therapies and protocols, and in the delivery of care through the activation of a new multidisciplinary clinical model supported by technology. Learn more at www.wesanahealth.com.

Investor contacts:Keenan GentryEmail: [email protected]: 773-236-7972

Media Contact:Izzy FormanEmail: [email protected]

Nick Opich / Annie GrafKCSA Strategic CommunicationsEmail: [email protected]: 212-896-1206 / 786-390-2644

On behalf of the Board of Directors:Daniel Carcillo, General Manager Phone: (773) 236-7972

Forward-looking information and statements

This press release contains “forward-looking information” within the meaning of applicable securities laws with respect to the Company, including, but not limited to: information regarding the timing of the opening of the new Wesana located in Naperville, IL, the services to be offered at the new clinic upon opening, and any other statements which may predict, predict, indicate or imply future plans, intentions, activity levels, results, financial condition, performance or operational or financial achievements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “expected”, “estimates”, “forecasts”. “, “intends”, “anticipates”, “will”, “projects” or “believes” or variations (including negative variations) of these words and phrases, or statements that certain actions, events, results or conditions “may”, “could”, “would”, “could” or “will” be taken, will occur or will be achieved. Except for statements of historical fact, the information contained herein constitutes Forward-looking information is not a guarantee of future performance and is based on a number of management estimates and assumptions as of the date the statements are made.

Some factors influencing the successful opening of the Naperville clinic in the spring of 2022 include: (i) the company has finalized the lease, (ii) renovations and property clearance for the clinic to operate should be minimal, and (iii) the company has an internal and external team dedicated to resolving issues that may arise during the construction of the clinic.

Some assumptions that influence the successful opening of the Naperville Clinic in the spring of 2022 include: (i) there are no significant delays in the construction of the Naperville Clinic at the start of the first quarter of 2022, and (ii) there there are no significant delays in renovation/permitting.

Other general assumptions include development costs remaining consistent with budgets; favorable operating conditions; political and regulatory stability; obtain and maintain all required licenses and permits; receipt of government approvals and permits; lasting stability of the workforce; the stability of capital goods markets; the level of demand for the Company’s products and services; and the availability of third party service providers and other inputs to the Company’s operations.

Although the Company considers these assumptions to be reasonable, they are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause performance, achievements, actions, events, whether the results or conditions are materially different from those projected in the forward-looking information. Many assumptions are based on factors and events beyond the Company’s control and there can be no assurance that they will prove to be correct.

In addition, such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual plans, intentions, activities, results, financial condition, performance or achievements to differ materially from any plans, intentions, activities, results, financial condition, performance or achievements expressed or implied by such forward-looking information. These factors include negative operating cash flow and going concern; the adverse impact of future losses and negative operating cash flows; additional capital requirements; failing to meet publicly announced milestones; the use of the skills and experience of key managers and scientists; disruptions due to acquisitions or collaborations; COVID-19[FEMALE;litigation;conflictsofinterest;limitedoperatinghistory;marketandbusinessconditionsandotherriskfactorsincludingthosefoundintheCompany’sAnnualInformationFormdatedSeptember32021filedontheCompany’sprofileonSEDARatwwwsedarcomanddiscussedintheCompany’sotherpublicdocumentsavailableonSEDAR[FEMININE;litige;lesconflitsd’intérêts;historiquedefonctionnementlimité ;lesconditionsdumarchéetdesaffairesd’autresfacteursderisqueycomprisceuxtrouvésdanslanoticeannuelledelaSociétédatéedu3septembre2021déposéesurleprofildelaSociétésurSEDARàl’adressewwwsedarcometdiscutésdanslesautresdocumentspublicsdelaSociétédisponiblessurSEDAR

Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided and made as of the date of this press release, and the Company undertakes no obligation to revise or update the forward-looking information other than as required by applicable law.

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Source: Wesana Health

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