GreeneStone Healthcare Corporation (OTCBB: GRST) (“GreeneStone” or “the Company”) announces today that it will begin the process of applying to the New York Stock Exchange (“NYSE”) to list on the NYSE-Amex exchange. The Company’s recent performance has brought the Company to, or near to, the levels required to meet the listing requirements for the NYSE-Amex under its Standard 3 definitions. It is anticipated that the Company will meet all the requirements at the time it has completed the application process. The Company has determined that the NYSE-Amex listing will best serve the Company’s needs to attract capital to support its recently announced ‘build and buy’ expansion strategy. The ‘build and buy’ expansion strategy is designed to stay ahead of the market to take advantage of the green field opportunity in Canada and the ever growing demand in the US in the underserviced mental healthcare sector. The focus of the expansion strategy is to reach the 300 bed level in its in-patient addiction treatment business in the next twenty-four months.
A recently released report has emphasized the huge demand that the Company has identified. The report was released on October 10th, 2012 by the Institute for Clinical Evaluation Sciences (ICES) and Public Health Ontario. The report demonstrates that "the burden of mental illness and addictions in Ontario is more than 1.5 times that of all cancers and more than seven times that of all infectious diseases." The report goes on to say "five conditions have the highest impact on the life and health of Ontarians: depression, bipolar disorder, alcohol use disorders, social phobia and schizophrenia.” Research has shown that mental disorders and addictions are very prevalent (e.g. one in five Canadians will experience a mental disorder each year) and cost Canada billions of dollars (e.g. forty to fifty billion dollars annually). This study confirms that the burden of mental disorders and addictions is very high and outstrips the burden of many physical illnesses. “This report does not surprise me, the numbers are staggering”, stated Shawn Leon CEO of the Company. “ The awareness of mental health is growing and we are set to carve out a niche in this sector” he added. ICES is an independent, non-profit organization that produces knowledge to enhance the effectiveness of health care for Ontarians. The summary (6 pages) and the full report are available on the ICES web site at
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About GreeneStone Healthcare Corporation
GreeneStone is a provider of mental health services, specializing in the areas of addiction treatment, eating disorders, nutrition and weight loss, and executive healthcare. GreeneStone is a new company in the behavioral treatment sector in Canada, an industry that has been well developed in the US but remains in its early evolutionary stages in Canada. GreeneStone is among the many nascent healthcare companies re-defining the healthcare space for the modern economy, which include Roche Holding Ltd. (OTCQB: RHHBY), Sarepta Therapeutics Inc. (NASDAQ: SRPT), Nektar Therapeutics (NASDAQ: NKTR), Celldex Therapeutics, Inc. (NASDAQ: CLDX), Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN), Zogenix, Inc. (NASDAQ: ZGNX). The company operates medical and healthcare clinics in Ontario, Canada, serving a North American and international clientele. GreeneStone’s clinics meet several ends: (1) GreeneStone adds overflow capacity to an increasingly stretched public healthcare system in Canada, (2) GreeneStone mental health clinics provide private alternatives to publicly available but highly underserviced healthcare subsectors, and (3) GreeneStone meets newly developing healthcare needs undisturbed by the public/private market, such as eating disorders. The company is headquartered in Toronto, Canada.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as “expect,” “plan,” “will,” “may,” “anticipate,” “believe,” “should,” “intend,” “estimate,” and variations of such words. Forward-looking statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, those risks and uncertainties contained in this press release and those identified in the periodic reports that the company files with the Securities and Exchange Commission (the “SEC”) pursuant to the Exchange Act.
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