TORONTO, ONTARIO–(December 17, 2014)
NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES.
As Canada’s leading medical marijuana merchant bank, PharmaCan provides capital and strategic partnership to licensed companies, or those actively seeking a license, to produce medical marijuana pursuant to Canada’s Marihuana for Medical Purposes Regulations (“MMPR”). PharmaCan has a diversified portfolio, including five of the twenty-three producers licensed by Health Canada.
“PharmaCan’s diversified portfolio includes investments in some of the best companies and management teams operating in the MMPR program.” said Paul Rosen, PharmaCan’s President & CEO. “PharmaCan and its investees are committed to ensuring that Canadians have stable access to quality-assured medical marijuana, produced in accordance with the MMPR.”
Following its public listing, PharmaCan will continue to invest in best-in-class businesses and management teams operating or seeking to operate under Canada’s MMPR program.
“The decision to become a publicly listed company was in response to overwhelming interest from potential investors,” said Mr. Rosen. “As a well-financed, reliable and experienced partner, PharmaCan is committed to the responsible development of the medical marijuana industry in Canada.”
PharmaCan’s senior management team is comprised of Paul Rosen, President and Chief Executive Officer, and Glen A. Huber, Vice President Finance and Chief Financial Officer. PharmaCan’s Board of Directors is comprised of Lorne Gertner, Paul Rosen, Alan Friedman, Ryan Roebuck, Glen A. Huber, Michael Krestell and Steven Isenberg.
PharmaCan has 34,786,562 common shares issued and outstanding. In connection with completing its listing on the TSX-V, PharmaCan granted an additional 500,000 stock options at an exercise price equal to the greater of i) $1.15 per share, representing the price of PharmaCan’s most immediate round of treasury financing, or ii) the closing price of PharmaCan’s shares on December 17, 2014, to certain PharmaCan executive officers, directors and consultants, pursuant to PharmaCan’s stock option plan.
PharmaCan is a company in the business of investing in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada’s Marihuana for Medical Purposes Regulations (“MMPR”). PharmaCan has a diversified portfolio of investments including investments in three of the fifteen companies that are listed on Heath Canada’s website as licensed to produce and sell medical marijuana as well as another two of the eight companies that are listed on Health Canada’s website as licensed to produce medical marijuana.
Paul Rosen, PharmaCan Capital Corp.
Phone: (416) 504-0004
Deirdre McMurdy, Navigator Ltd.
Phone: (416) 642-6339
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.