Delic Announces Two Key Executive Appointments

Matt Stang, Co-founder and CEO of Delic, and Kevin Nicholson, COO of Delic, have been elevated to Executive Chairman and Chief Executive Officer, respectively.

VANCOUVER, BC, Aug. 16, 2022 /PRNewswire/ - Delic Holdings Corp ("Delic" or the "Company") (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), a leader in new medicines and treatments for a modern world, today shared details regarding two executive appointments. Matt Stang, co-founder and CEO of Delic, has been appointed to the role of Executive Chairman. Kevin Nicholson, COO of Delic, will transition into the role of Chief Executive Officer in addition to joining the company's Board of Directors. He also serves as the CEO of Ketamine Wellness Centers (KWC) and will continue in this role.

Stang owned and operated High Times, a leading source of cannabis news, for 17 years prior to co-founding Delic. Under Stang's leadership, Delic acquired KWC in November 2021 to become the nation's largest ketamine therapy provider. He also led the Company to more than USD$1.5MM in total revenue last year and increased net assets 500% from USD$2.1MM in 2020 to USD$10MM in its first full year of operation. Delic remains committed to providing value-based, effective and accessible treatments that meet the diverse needs of patients across the country.

"As the conversation around psychedelics evolves and gains momentum, Delic will continue to remain at the forefront. It is a privilege to continue as the company's Executive Chairman and to work closely with the prestigious Board of Directors under Kevin's leadership," said Stang. "I am highly confident that together we will continue to guide the company in its next phase of growth and further modernize healthcare."

As CEO of KWC, Nicholson is leading the largest, most respected ketamine provider in the U.S. His ability to grow the company has generated an annual revenue of more than USD$4MM and has seen KWC approach 100,000 treatments to date for clinically eligible patients. Nicholson's guidance and personal commitment has ensured that KWC remains aligned with its mission-driven culture by offering best-in-class patient care to individuals suffering from significant mood disorders or chronic pain.

"Matt has been a tremendous, highly effective leader since co-founding Delic and has grown this company into the success it is today. I am grateful for his leadership and humbled to continue as CEO during such a pivotal moment in our industry," said Nicholson. "We are leveraging and growing our umbrella of businesses, including the nation's largest network of ketamine clinics, KWC, and look forward to expanding in 2022. Alongside Delic's Board of Directors, I am committed to continuing Delic's mission of providing effective, affordable treatment options to anyone who needs them and educating on the safety and long-term benefits of these new therapies."

In accordance with the Company's Share Compensation Plan, Delic has granted 4,600,000 stock options to certain officers, directors, employees, and consultants to purchase 4,600,000 subordinate voting shares. Each option grant vests in three equal installments, six, twelve and eighteen months from the date of issue. Each option is exercisable, once vested, for a period of three years from the date of grant at an exercise price of C$0.10 per subordinate voting share.

Delic is a leader in new medicines and treatments for a modern world, improving access to health benefits across the country and reframing the conversation on psychedelics. The company owns and operates an umbrella of related businesses, including the largest chain of psychedelic wellness clinics in the country, Ketamine Wellness Centers; the only licensed entity by Health Canada to focus exclusively on research and development of psilocybin vaporization technology, Delic Labs; the premier psychedelic wellness event, Meet Delic; and trusted media and e-commerce platforms Reality Sandwich and Delic Radio. Delic is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products, and better access to effective and affordable treatment options.

This press release contains certain "forward-looking information" within the meaning of applicable ‎Canadian securities ‎legislation and may also contain statements that may constitute "forward-looking ‎statements" within the meaning of ‎the safe harbor provisions of the United States Private Securities ‎Litigation Reform Act of 1995. Such forward-looking ‎information and forward-looking statements are not ‎representative of historical facts or information or current ‎condition, but instead represent only the ‎Company's beliefs regarding future events, plans or objectives, many of ‎which, by their nature, are ‎inherently uncertain and outside of Delic's control. Generally, such forward-looking ‎information or ‎forward-looking statements can be identified by the use of forward-looking terminology such as ‎‎"plans", ‎‎"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", ‎‎‎"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may ‎contain ‎statements that certain actions, events or results "may", "could", "would", "might" or "will be ‎taken", "will continue", ‎‎"will occur" or "will be achieved". The forward-looking information and forward-‎looking statements contained herein ‎may include, ‎but are not limited to: ‎the Company's plans and strategies; future management contributions by the newly appointed officers; and the potential vesting and exercise of stock options.

By identifying such information and statements in this manner, Delic is alerting the reader that ‎such ‎information and statements are subject to known and unknown risks, uncertainties, assumptions and other factors ‎that may cause ‎the actual results, level of activity, performance or achievements of Delic to be ‎materially different from those ‎expressed or implied by such information and statements. Such risks, assumptions and other factors may include, but are not limited to: changes in general economic, ‎business and political conditions, including changes in the financial ‎‎markets‎; the potential impact of the announcement of the officers' appointments on ‎relationships, ‎‎including with regulatory bodies, employees, suppliers, customers and competitors; inability to obtain future financing on suitable terms; failure to obtain required regulatory and other ‎approvals; risks inherent in the psychedelic treatment sector; changes in applicable laws and ‎regulations; and failure to comply with applicable laws and regulations;‎‎ risks related to global pandemics, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Delic; reduced access to debt and equity capital; litigation; the volatility of the stock market; competition; future sales or issuances of debt or equity securities; liquidity; market for securities; enforcement of civil judgments; and the other risks and uncertainties disclosed ‎under the heading "Risk Factors" in the Company's most recent Annual Information Form, and ‎other documents filed with or submitted to the Canadian securities regulatory authorities on the SEDAR website at ‎www.sedar.com.

Should one or more of these risks, uncertainties or other factors materialize, or should ‎assumptions ‎underlying the ‎forward-looking information or statements prove incorrect, actual ‎results may vary ‎materially from those described ‎herein as intended, planned, anticipated, ‎believed, estimated or ‎expected.‎

Although Delic believes that the assumptions and factors used in preparing, and the expectations ‎contained ‎in, the forward-looking information and statements are reasonable, undue reliance should not ‎be placed on such ‎information and statements, and no assurance or guarantee can be given that such ‎forward-looking information and ‎statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated ‎in such information and statements. The forward-looking ‎information and forward-looking statements contained in this ‎press release are made as of the date of ‎this press release, and Delic does not undertake to update any ‎forward-looking information ‎and/or forward-looking statements that are contained or referenced herein, except in ‎accordance with ‎applicable securities laws. All subsequent written and oral forward-looking information and ‎statements ‎attributable to Delic or persons acting on its behalf is expressly qualified in its entirety by this ‎‎notice.‎

SOURCE Delic Holdings Inc.