Delic Announces Two Key Executive Appointments

Delic Holdings Corp (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 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.