Vancouver, BC, August 2, 2016 – True Leaf Medicine International Ltd. (the "Company") (CSE: MJ), has established a subsidiary based in Luxembourg to conduct its business in Europe.
The subsidiary, True Leaf Pet Europe LLC SARL, was incorporated effective July 18, 2016. The Company entered into a subscription agreement to purchase 498 shares of True Leaf Pet Europe LLC SARL at a price of 25 € per share; the Company now holds 98% of the issued and outstanding shares of True Leaf Pet Europe LLC SARL.
Darcy Bomford, President and CEO of the True Leaf Medicine International Inc., said the establishment of a European corporation allows the Company to work in close proximity to European clients and markets. The subsidiary will work with European marketing partner Pet Horizons to build distribution networks and develop sales and distribution performance. It will also allow True Leaf to conduct business in European currency.
About True Leaf Medicine International Ltd:
True Leaf Medicine International Ltd. is entering the $104.9 billion global pet care industry with a line of hemp-focused pet chews and supplements marketed through natural pet health and veterinary channels in Canada and the US. The company has also filed an application under Health Canada’s Marihuana for Medicinal Purposes Regulations (MMPR) to become a Canadian licensed producer through its ‘True Leaf Medicine’ subsidiary. It has passed through the preliminary and enhanced screening process of Health Canada’s review and is currently awaiting security clearance and ‘pre-licensing inspection’ approval.