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0 120

Endexx Delivers Autospense(TM) to Canada

Endexx Signs First International Lease Contract for Dispensing Technology

AutoSpense by Endexx Click here for high-resolution version

CAVE CREEK, AZ–(Marketwired – Mar 24, 2015) – Endexx Corporation (OTC PINK:EDXC) a provider of innovative medical marijuana management and technology solutions, is pleased to announce its first international lease contract in Vancouver, Canada. The Autospense™ unit has shipped after being customized to the Canadian customer’s requirements. The location and customer will be announced at their Grand Opening. The Autospense™ unit has been upgraded to manage international credit/debit card transactions specific to Canada. The new credit card system will be available to all United States units in the future as permitted by law in each jurisdiction.

The lease contract is a for a three year term. The client has indicated its intent to expand up to four to eleven units in both dispensary and clinical settings upon proven performance and market acceptance in their region. Endexx continues to develop its systems to exceed regulatory requirements in all legal jurisdictions to establish compliant and reliable standards. By creating a robust security and compliance platform, Endexx looks to collaborate with other industry leaders.

About Endexx Endexx provides innovative medical marijuana management and technology solutions. The Company has two products that launched in the first half of 2014 — the m3hub and the Autospense™. Both products provide essential solutions to promote regulatory compliance and full accountability through “seed to sale” inventory management and tracking. Based on principles developed by the pharmacological industry, the m3hub database is the first standardized software platform for tracking pharmaceutical grade marijuana to support a Centralized Medical Marijuana Industry Repository and maintain compliance with the laws of the federal government and state and local regulatory bodies. The Autospense™ is a high-tech marijuana inventory control and dispensing machine, which provides up to the minute accounting details and protects the security of the product as well as the patient. By automating the dispensing process, Autospense™ increases productivity and reduces costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers.www.endexx.com, www.m3hub.com, www.facebook.com/EndexxCorporation

Safe Harbor Notice This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2789315

Contact:
CONTACT:
For further investor and media information
Endexx Corporation
Todd Davis
Chairman & CEO
endexx@endexx.com
480-595-6900

IRTH Communications
Robert Haag
Managing Director
edxc@irthcommunications.com
866-976-4784

0 129

InMed Receives Exemption Status from Health Canada

 

VANCOUVER, British Columbia, March 23, 2015 /PRNewswire/ InMed Pharmaceuticals Inc. (“InMed”) (CSE: IN;OTCQB: IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabis-based therapies, today announced that it has received a notice from Health Canada dated March 12, 2014, approving InMed’s application for an exemption under Section 56 of theControlled  Drugs and Substances Act.

This exemption allows InMed to use a specified quantity of selected Cannabinoid compounds including Delta 9-Tetrahydrocannabinol and Cannabidiol. Importantly this exemption allows InMed to possess the controlled substance and to administer them for Research & Development purposes which include; in vitro studies as well as the use of these compounds in animal models of human diseases.

Craig Schneider, President & CEO states, “Obtaining this exemption is a critical milestone for InMed as we prepare for human clinical studies for our lead programs in Glaucoma (CTI-085) and Arthritis (CTI-091) moving towards the clinical development of their respective proprietary delivery systems”.

The Office of Controlled Substance licensed dealers has also been notified so that it may import the controlled substances on behalf of InMed.

About InMed
InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis based therapies through the Research and Development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMeds’ Proprietary Platform Technology, Product pipeline and accelerated development pathway are the fundamental value drivers of the Company.

ON BEHALF OF THE BOARD

Forward Looking Statements

This news release may contain forward-looking statements and information based on current expectations.  These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct.  We assume no responsibility to update or revise them to reflect new events or circumstances.

Additionally, there are known and unknown risk factors which could cause InMed Pharmaceuticals actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed Pharmaceuticals disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

These risks and uncertainties include, among others, the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results, risks associated with obtaining funding from third parties, risks related to the timing and costs of clinical trials and the receipt of regulatory approvals

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

0 77

InMed Receives Exemption Status from Health Canada

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Mar 23, 2015) – InMed Pharmaceuticals Inc. (“InMed”) (CSE:IN)(IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabis-based therapies, today announced that it has received a notice from Health Canada dated March 12, 2015, approving InMed’s application for an exemption under Section 56 of theControlled Drugs and Substances Act.

This exemption allows InMed to use a specified quantity of selected Cannabinoid compounds including Delta 9-Tetrahydrocannabinol and Cannabidiol. Importantly this exemption allows InMed to possess the controlled substances and to administer them for Research & Development purposes which include; in vitro studies as well as the use of these compounds in animal models of human diseases.

Craig Schneider, President & CEO states, “Obtaining this exemption is a critical milestone for InMed as we prepare for human clinical studies for our lead programs in Glaucoma (CTI-085) and Arthritis (CTI-091) moving towards the clinical development of their respective proprietary delivery systems.”

The Office of Controlled Substances’ licensed dealer has also been notified so that it may import the controlled substances on behalf of InMed.

About InMed

InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis based therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed’s proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company.

ON BEHALF OF THE BOARD

InMed Pharmaceuticals Inc.

Craig Schneider, President and Chief Executive Officer

Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about preparing for human clinical studies for lead programs in Glaucoma (CTI-085) and Arthritis (CTI-091) and finalizing the development of their respective proprietary delivery systems; and the value drivers of the company. Although such statements are based on management’s reasonable assumptions, such as the continued existence of the exemption, there can be no assurance that such assumptions will prove to be correct. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Known risk factors include, among others: the exemption may be removed or become no longer applicable; anticipated clinical studies may not be conducted as planned, or at all; and InMed’s proprietary platform technology, product pipeline and accelerated development pathway may not return their expected level of value.

A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed’s continuous disclosure filings with Canadian securities regulatory authorities atwww.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact:
InMed Pharmaceuticals Inc.
Craig Schneider
President and Chief Executive Officer
604.669.7207
604.683.2506
info@inmedpharma.com
www.inmedpharma.com

0 134

Endexx Delivers Autospense(TM) to Canada

Endexx Signs First International Lease Contract for Dispensing Technology

CAVE CREEK, AZ–(Marketwired – Mar 24, 2015) – Endexx Corporation (OTC PINK:EDXC) a provider of innovative medical marijuana management and technology solutions, is pleased to announce its first international lease contract in Vancouver, Canada. The Autospense™ unit has shipped after being customized to the Canadian customer’s requirements. The location and customer will be announced at their Grand Opening. The Autospense™ unit has been upgraded to manage international credit/debit card transactions specific to Canada. The new credit card system will be available to all United States units in the future as permitted by law in each jurisdiction.

The lease contract is a for a three year term. The client has indicated its intent to expand up to four to eleven units in both dispensary and clinical settings upon proven performance and market acceptance in their region. Endexx continues to develop its systems to exceed regulatory requirements in all legal jurisdictions to establish compliant and reliable standards. By creating a robust security and compliance platform, Endexx looks to collaborate with other industry leaders.

About Endexx Endexx provides innovative medical marijuana management and technology solutions. The Company has two products that launched in the first half of 2014 — the m3hub and the Autospense™. Both products provide essential solutions to promote regulatory compliance and full accountability through “seed to sale” inventory management and tracking. Based on principles developed by the pharmacological industry, the m3hub database is the first standardized software platform for tracking pharmaceutical grade marijuana to support a Centralized Medical Marijuana Industry Repository and maintain compliance with the laws of the federal government and state and local regulatory bodies. The Autospense™ is a high-tech marijuana inventory control and dispensing machine, which provides up to the minute accounting details and protects the security of the product as well as the patient. By automating the dispensing process, Autospense™ increases productivity and reduces costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers. www.endexx.com, www.m3hub.com,www.facebook.com/EndexxCorporation

Safe Harbor Notice This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2789315

Contact:
CONTACT:
For further investor and media information
Endexx Corporation
Todd Davis
Chairman & CEO
endexx@endexx.com
480-595-6900

IRTH Communications
Robert Haag
Managing Director
edxc@irthcommunications.com
866-976-4784

0 105

InMed Receives Exemption Status from Health Canada

VANCOUVER, British Columbia, March 23, 2015 /PRNewswire/ InMed Pharmaceuticals Inc. (“InMed”) (CSE: IN;OTCQB: IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabis-based therapies, today announced that it has received a notice from Health Canada dated March 12, 2014, approving InMed’s application for an exemption under Section 56 of theControlled  Drugs and Substances Act.

This exemption allows InMed to use a specified quantity of selected Cannabinoid compounds including Delta 9-Tetrahydrocannabinol and Cannabidiol. Importantly this exemption allows InMed to possess the controlled substance and to administer them for Research & Development purposes which include; in vitro studies as well as the use of these compounds in animal models of human diseases.

Craig Schneider, President & CEO states, “Obtaining this exemption is a critical milestone for InMed as we prepare for human clinical studies for our lead programs in Glaucoma (CTI-085) and Arthritis (CTI-091) moving towards the clinical development of their respective proprietary delivery systems”.

The Office of Controlled Substance licensed dealers has also been notified so that it may import the controlled substances on behalf of InMed.

About InMed
InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis based therapies through the Research and Development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMeds’ Proprietary Platform Technology, Product pipeline and accelerated development pathway are the fundamental value drivers of the Company.

ON BEHALF OF THE BOARD

Forward Looking Statements

This news release may contain forward-looking statements and information based on current expectations.  These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct.  We assume no responsibility to update or revise them to reflect new events or circumstances.

Additionally, there are known and unknown risk factors which could cause InMed Pharmaceuticals actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed Pharmaceuticals disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

These risks and uncertainties include, among others, the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results, risks associated with obtaining funding from third parties, risks related to the timing and costs of clinical trials and the receipt of regulatory approvals

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/inmed-receives-exemption-status-from-health-canada-300054169.html

0 86

InMed Receives Exemption Status from Health Canada

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Mar 23, 2015) – InMed Pharmaceuticals Inc. (“InMed”) (CSE:IN)(IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabis-based therapies, today announced that it has received a notice from Health Canada dated March 12, 2015, approving InMed’s application for an exemption under Section 56 of theControlled Drugs and Substances Act.

This exemption allows InMed to use a specified quantity of selected Cannabinoid compounds including Delta 9-Tetrahydrocannabinol and Cannabidiol. Importantly this exemption allows InMed to possess the controlled substances and to administer them for Research & Development purposes which include; in vitro studies as well as the use of these compounds in animal models of human diseases.

Craig Schneider, President & CEO states, “Obtaining this exemption is a critical milestone for InMed as we prepare for human clinical studies for our lead programs in Glaucoma (CTI-085) and Arthritis (CTI-091) moving towards the clinical development of their respective proprietary delivery systems.”

The Office of Controlled Substances’ licensed dealer has also been notified so that it may import the controlled substances on behalf of InMed.

About InMed

InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis based therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed’s proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company.

InMed Pharmaceuticals Inc.

Craig Schneider, President and Chief Executive Officer

Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about preparing for human clinical studies for lead programs in Glaucoma (CTI-085) and Arthritis (CTI-091) and finalizing the development of their respective proprietary delivery systems; and the value drivers of the company. Although such statements are based on management’s reasonable assumptions, such as the continued existence of the exemption, there can be no assurance that such assumptions will prove to be correct. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Known risk factors include, among others: the exemption may be removed or become no longer applicable; anticipated clinical studies may not be conducted as planned, or at all; and InMed’s proprietary platform technology, product pipeline and accelerated development pathway may not return their expected level of value.

A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed’s continuous disclosure filings with Canadian securities regulatory authorities atwww.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact:
InMed Pharmaceuticals Inc.
Craig Schneider
President and Chief Executive Officer
604.669.7207
604.683.2506
info@inmedpharma.com
www.inmedpharma.com

0 567

Statement from Health Canada

Expanding on the statement issued on February 20, 2015, Health Canada is delivering the current update:

On February 13, 2015, Health Canada issued a “Notice of Intent to Refuse” to CEN Biotech, Inc. as a rebut to its application for a license to cultivate under the Marihuana for Medical Purposes Regulations (MMPR).

The MMPR states that Health Canada must give proper notice to applicants that it intends to reject for a license. Said applicant is then given 20 days to introduce formal written representations.

The Department has presently notified the company that the decision to deny the application is now certain.

0 1111

Bedrocan receives Health Canada MMPR Production License

Import Permit Issued for Transfer of Genetic Clones from the Netherlands

TORONTO , Feb. 19, 2015 /CNW/ – Bedrocan Cannabis Corp. (BED.V) (“Bedrocan” or the “Company”) announced today that its wholly-owned subsidiary, Bedrocan Canada Inc., has received a second license from Health Canada to allow for the production of medicinal cannabis under the Marihuana for Medicinal Purposes Regulations (“MMPR”). Under the terms of this license, which became effective on February 17, 2015 for a period of one year, Bedrocan can immediately begin domestic production in the first six grow rooms, out of a total of 34, at the Company’s new 52,000 square foot production facility in the Greater Toronto Area . When fully licensed by Health Canada, the facility is capable of producing approximately 4,000 kg of medicinal cannabis per year.

Bedrocan now has two licensed facilities in operation in the Greater Toronto Area . As previously announced on December 3, 2014 , Bedrocan also has an existing Health Canada license, which was renewed for an additional one year term expiring on December 2, 2015 , to import up to 240 kg from the Dutch government’s Office of Medicinal Cannabis. The Company will now begin the transition to full domestic production, constituting Phase II of the Company’s growth strategy.

Furthermore, Health Canada has also issued Bedrocan an import permit to allow for immediate transfer of live genetic clones from Bedrocan BV in the Netherlands to the Company’s domestic production facility. Bedrocan’s import permit from Health Canada follows the issuance of an additional import permit from the Canadian Food Inspection Agency, allowing for the first ever legal import of live cannabis plants into Canada

“We are delighted to have reached this critical milestone in our growth strategy, allowing us to significantly scale up the volume of product we can offer to Canadian patients,” said Marc Wayne , President and CEO. “We remain on schedule to deliver our first production harvest and sale in Q2’2015. In addition, our import strategy will remain in place through transition to full domestic production to ensure a continued, consistent and uninterrupted supply of medicinal cannabis to our patients.”

Bedrocan is the only company in the world capable of offering patients standardized full-bud dried cannabis, containing consistent levels of cannabinoids (the active ingredients) from batch to batch. Product standardization is the only way to  provide physicians and patients with consistency and replicability of therapeutic effect, and thereby enhanced ability to track efficacy, safety and side effects over time. Production at the new domestic facility will be grown from clones that are genetically identical to those developed by Bedrocan BV.

About Bedrocan

Bedrocan and Bedrocan BV are focused on medicinal cannabis research and product innovation, and have been producing and supplying government-regulated medicinal cannabis for 13 years. Bedrocan’s strains of pharmaceutical-grade cannabis have been used by more than 20,000 patients in seven countries, including Canada . The Company is committed to clinical research with ISO 9001-rated production processes and product development, on an international scale. Bedrocan is one of only two companies currently supplying pharmaceutical-grade medicinal cannabis in Canada . Bedrocan Cannabis Corp. trades on the TSX Venture Exchange under the symbol “BED”. www.bedrocan.ca

Forward-Looking Statements

Certain information in this release are forward-looking statements with respect to the development plans and growth targets of the Company. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to: (a) the commencement of domestic production of medicinal cannabis by the Company, and capacity for such production; (b) the Company’s plan to scale up the volume of its product available to Canadian patients; and (c) the success of the Company’s import and domestic production strategy.  The basis for the assumptions underlying such statements include that: (i) Bedrocan’s existing licenses will remain in full force and effect, and be renewed upon terms acceptable to Bedrocan in the future; (ii) actual results of the Company’s planned domestic production and development activities will continue to be positive and proceed as planned; (iii) all requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to the Company, and (iv) economic, political and industry market conditions will be favourable. However, such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to: (1) the risk that domestic production may not be achieved as planned; (2) changes in project parameters as plans evolve; (3) dependence on regulatory approvals and changes in legislation, environmental compliance, community support and the political and economic climate; (4) availability of future financing; and (5) the timely completion of the Company’s production facility and other factors beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.  The Company assumes no obligation to update such information, except as may be required by law.

Neither 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.

SOURCE Bedrocan Cannabis Corp.

Contact:

Cam Battley, Bedrocan Cannabis Corp.
cbattley@bedrocan.ca
+1.905.864.5525
www.bedrocan.ca

Investor relations:
Jennifer Wood,
TMX Equicom
jwood@tmxequicom.com
+1.416.815.0700, ext. 226

 

0 312

Umbral Signs a Non-Disclosure Agreement for a process to produce Industrial Hemp in Canada

Vancouver, BC / ACCESSWIRE / February 10, 2014 / UMBRAL ENERGY CORP. (UMB.V) (OTCQB:UMBBF) (the “Company” or “Umbral”) announces, as an addition to its current activities, the Company has recently been investigating the business opportunity of Industrial Hemp. In this regard the Company is pleased to announce that it has recently signed a Non-Disclosure Agreement (“NDA”) with a group, for the purposes of producing Industrial Hemp.

This NDA allows Umbral to enter into detailed discussions with a private corporation for the production of Industrial Hemp as an additional product offering. Umbral CEO, Jag Bal states “We are continually looking at ways to develop our business, and we see great potential in this related opportunity. We feel that the infrastructure which exists in PhyeinMed, would lend itself perfectly to Industrial Hemp.”

At this time, no further deal terms have been reached, nor has the company entered into any letters of intent or definitive agreements with the private corporation. As the company’s discussions remain at a preliminary stage only, there can be no assurance or guarantee that the company will enter into a binding agreement. The company will provide further updates as they are available.

Hemp is a crop that is grown globally, principally for fibre and food. The marketable parts, include the stalk, consisting of both long (bast) and short (core) fibers, used for textiles, rope and twine, advanced composite materials, and hemp cement. The hemp seed is used, as it contains protein, dietary fiber and rich omega fatty acid oil. Hemp food products on the market today include cereal, snacks and bars, breads, milk drinks, protein powders and butter. The hemp oil is recognized as a valuable natural ingredient in body care products. The majority of hemp and hemp seed that is used in North America is grown and processed in Canada. Canada has developed its production rules from the standards developed by the European Union, and has a high regulatory standard. Canadian farmers have been legally allowed to grow industrial hemp since 1998. The Canadian Hemp Trade Alliance says production in this country is forecast to almost double by 2015.

The Company is currently listed as a junior resource issuer having a mineral exploration projects. The Company is considering other activities to increase shareholder value, including non-resource projects. The Company is conducting diligence in regards to the commercial cultivation of marijuana under the newly established Health Canada regulations pertaining to the cultivation of marijuana for medical purposes. While it is the intention of Umbral and PhyeinMed to obtain a MMPR Licence, there can be no assurances that it will receive the necessary permits to operate. Any MMPR applicant, including PhyeinMed, will not be able to legally grow or sell medical marijuana without a licence from Health Canada. In addition the Company has a mineral exploration project in Quebec, Canada as well as an oil and gas project in Alberta, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.

Jag Bal”

Jagdip Bal

President and CEO

Neither Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the results of exploration activities — that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


SOURCE:
Umbral Energy Corp.

3 2011

The que to establish a Canadian legal marijuana business is getting unruly as applicants struggle to keep their dreams of selling med pot growing.

Written By: Matt Mernagh

This week licensed producer New Age Medical Solutions Inc. launched a lawsuit seeking a federal judge review their denial. http://www.cbc.ca/news/politics/medical-marijuana-applicant-takes-health-canada-to-court-1.2823362

 

The business waited a year and spent approximately one million dollars Canadian before Health Canada nixed their application. The company is part of a growing list of applicants who have spent a considerable sum and are in an approval quagmire.

 

Many are designated growers under the old program who have teamed up with investors and require to submit to extensive RCMP background checks. Long suspecting these growers are earning income from illegal sales – the RCMP is possibly using this as an opportunity to punish via slowness.

 

You’ll never prove beyond a shadow of a doubt they’re not moving paperwork quick enough because of political reasons, but they’re notoriously slow on regular background checks and blame staffing levels.

 

Having faced numerous constitutional challenges (including my own R v. Mernagh) – the agency responsible for overseeing licensed producers appears to have established their medical marijuana program with one eye on the courtroom.

Denied applicants may re-apply by fixing the identified problem – it’s alleged by Health Canada New Age Medical Solutions needs to hire a qualified quality assurance specialist.

 

Who is exactly qualified to be a quality assurance specialist for cannabis?

 

I have a book and held a court ordered exemption to grow cannabis – does that make me qualified.

 

A federal judge decision on that question could be years away and in the meantime the production facility sits empty.

 

Currently some 1,100 businesses have applied to sell medical marijuana to approximately 10,000 people. This number is growing as more doctors appear willing to sign paperwork. (I’m registered with Peace Naturals – which is not listed on TSX).

 

Health Canada claims about 291 businesses are in process of approval, but when will they be approved?

There’s a fairly impressive backlog of applicants and it includes a company headed by a former prime minister (John Turner) and another by a former Ontario provincial Liberal cabinet minister (George Smitherman.)

One would think a former prime minister would have some approval sway, but it doesn’t appear to be the case.

 

The snail’s pace approval is most likely somewhat intentional on government’s part. Unfortunately intentional government incompetence is a challenge to measure and if you’re one of 291 about to be approved – do you risk the agency’s ire by launching a lawsuit or speaking out.

 

To applicants and advocates it’s obvious pot hating Conservatives have slowed down the licensed producer application process to a God Bud couchlock.

 

Is this government incompetent business as usual or is an extra layer of personal dislike thrown in for good measure?

 

The Conservatives 2012 federal budget was described as “tough times for federal civil servants” with approximately 19,000 government employees given pink slips or retired out. The federal government shrank 4.8 percent and its effects are being felt everywhere, including medical marihuana approval.

 

Paper is not being pushed as quickly as applicants wish, probably because Health Canada doesn’t have adequate resources. Every business that qualifies will be granted a license, but Health Canada needs to have staff in place to manage all that Conservative created paperwork and oversight.

 

Will positive political muscle make a difference in moving paperwork?

 

The Mayor of Campbellton New Brunswick has come forward seeking the approval pace be quickened for Zenabis – which has promised a remarkable 400 weed jobs – when they open in his community. Campbellton’s been hard hit by unemployment and approximately 1400 people have applied for weed employment.

 

Is local Conservative MP Bernard Valcourt more interested in upholding prohibition or job creation?

It’s not uncommon for an MP to lobby on behalf of a business in their community that promises job creation – so why isn’t he going to bat for Zenabis?

The Conservative’s believe they are getting a two-for-one political ideological deal – smaller government and maintaining pot prohibition – but should be viewed as hampering job creation and investment.

Investors have tied up their cash flow in an investment that may or may not pay off. Many companies’ are bleeding money before they have even opened their doors. The approval uncertainty is finally causing investors to examine the possible payout more diligently.

Cannabis conspiracy theorist need look no further than Health Canada not having enough staff as to why more companies are not retailing medical cannabis than any other theory being floated.