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GreeneStone Signs Lease for New Toronto Headquarters; Bringing Together Outpatient Clinic Senior Staff and Assessment Services

TORONTO, June 3, 2013 (GLOBE NEWSWIRE) -- GreeneStone Healthcare Corporation (OTCBB:GRST) ("GreeneStone" or the "Company"), a provider of healthcare services and operator of several mental health clinics, announced today the signing of a new lease for offices and clinical space in downtown Toronto.

GreeneStone previously announced the renovation and changes to its current corporate office and endoscopy clinic into additional clinical and surgical space. The displaced senior staff resulting from these changes will now be located at 39 Pleasant Boulevard, near the intersection of Yonge and St. Clair in downtown Toronto and conveniently located next to the St. Clair subway station. GreeneStone Yorkville, which is the Company's outpatient and aftercare clinic, will be moved from 39 Hazelton Avenue to 39 Pleasant Boulevard. The Company's Hazelton Avenue location sub-lease expired on May 31, 2013.

The new lease agreement commences July 1, 2013. Occupancy rates are similar to that of the Company's current corporate location and are lower than its current Hazelton Avenue location. The announcement of this lease and the previously announced lease at 5734 Yonge Street will both add increased capacity and reduce overall operating costs.

The landlord for the new space on Pleasant Boulevard is Corbin Professional Centers Inc. This landlord and a majority of the tenants in the building provide medical services. The Landlord has contributed funds through rental reductions for the purpose of renovation of the new space. The Company has also entered into a one month temporary lease for a portion of the new space to accommodate the outpatient and aftercare services for the month of June. As previously announced, the new location will be branded 'GreeneStone Clinic Toronto' and the current 5734 Yonge Street clinic will be branded 'GreeneStone Endoscopy and Surgery'.

Shawn Leon, GreeneStone's chief executive officer stated, "We just ended May with the highest monthly number of new client intakes to our Muskoka residential addiction treatment centre in our history and have only just begun to invest in marketing our mental health and addiction treatment services. Part of the Company's overall goals for the rest of this year are to increase revenue in all GreeneStone divisions and to contain costs by managing payroll and occupancy costs. This new lease arrangement will contribute greatly to these efforts and will coincide with a major effort in the marketing of our services."

The marketing focus for mental health and addiction treatment services is to build on the excellent care and programs in both our residential program and outpatient services. These marketing efforts will encompass four key components as follows:

  • Dissemination of information regarding treatment options for individuals with substance abuse and concurrent disorders, including:
  • Associations – direct sales & marketing;
  • Building provider relationships (interventionists, counselors & health professionals);
  • Speaking & television engagements;
  • Forums – conferences, annuals;
  • Networking & relationship management;
  • Internet presence and SEO;
  • Professional Programs – direct sales & marketing; and
  • Insurance Providers – direct sales & marketing.
  • Broaden and expand business offerings:
  • Family support;
  • Trauma programming;
  • Assessments (identified as a gap in the marketplace); and
  • On-line programming.
  • Build on the quality of services:
  • Moving forward with accreditation of rehabilitation facilities – CARF;
  • Online support aftercare program;
  • Efficient processes in place to support services being offered;
  • Ensure effective communication between internal and external clients;
  • Ensuring optimal performance from quality staff members providing services;
  • Increased management/coaching of staff to improve skills and abilities; and
  • Provide training opportunities.
  • Partner with like-minded organizations that bring value add to GreeneStone

About GreeneStone Healthcare Corporation

GreeneStone Healthcare Corporation (OTCBB:GRST) operates medical and healthcare clinics in Ontario, Canada. GreeneStone's clinics serve to add overflow capacity to an increasingly stretched provincial healthcare system, and provide private alternatives to publicly available healthcare services. Its four medical clinics (three in Toronto, along with a facility in Muskoka, Ontario) offer various medical services, including addiction treatment, endoscopy, minor cosmetic procedures, and executive health care services. The Company currently has more than 60 employees and is based in North York, Ontario. For more information you can visit our website at www.greenestone.net.

Notice Regarding Forward-Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

CONTACT: Investor contact: Christine Petraglia CSIR Group, LLC (212) 386 7082 investors@csirgroup.comSource:GreeneStone Healthcare Corporation