Medipure Holdings Inc.
CNSX : MDH

Medipure Holdings Inc.

August 20, 2015 18:20 ET

A Major Shareholder Acquires Additional Medipure Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2015) - Medipure Holdings Inc. (CSE:MDH) is pleased to provide early warning that effective August 20, 2015, Garrison Construction LLC ("Garrison"), a company controlled by Mark Donahue, a director of Medipure, acquired ownership and control of an additional 666,667 common shares of Medipure (the "Additional Shares"), representing approximately 7.6% of the 8,763,655 issued and outstanding share capital of the Company. After this acquisition, Garrison's total holdings are 1,719,299 common shares, representing 19.6% of the issued and outstanding share capital of the Company.

Garrison, which has an office at 170 Newbury Street, Boston, Massachusetts, 02116, USA, acquired the Additional Shares privately from a transferor for investment purposes at a price of approximately US $0.30 per share for total proceeds of US $100,000 paid on June 19, 2014 (then equivalent to approximately CAD $92,400). In acquiring the Additional Shares, Garrison entered into a joinder to stock restriction agreement with the Company and the transferor, whereby the Additional Shares may not be transferred or sold except as to proportions which shall be released from such restrictions as follows:

Release Date Significance of Date Proportion to be Released No. Common Shares to be Released
November 10, 2014 Listing Date 1/10 of the Shares 66,667
May 10, 2015 6 months after the Listing Date 1/6 of the remainder of the Shares 100,000
November 10, 2015 12 months after the Listing Date 1/5 of the remainder of the Shares 100,000
May 10, 2016 18 months after the Listing Date 1/4 of the remainder of the Shares 100,000
November 10, 2016 24 months after the Listing Date 1/3 of the remainder of the Shares 100,000
May 10, 2017 30 months after the Listing Date 1/2 of the remainder of the Shares 100,000
November 10, 2017 36 months after the Listing Date The remainder of the Shares 100,000
TOTAL 666,667

About Medipure Holdings Inc.

Medipure is developing an extensive network of strategic partnerships with extensive experience in developing cannabinoids, medicines containing controlled substances, as well as plant-based prescription pharmaceutical products. Medipure will attempt to bring novel prescription medicines to market, providing patients with serious conditions valuable solutions that make a real difference to quality of life. Medipure will also seek to maximize the value of our products through rapid cost-effective product development, addressing market needs, and establishing strategic partnerships. Although Medipure has applied to Health Canada for a license to produce and distribute medical marijuana under the Marihuana for Medical Purposes Regulations, it has not yet received such a license and there is no guarantee that such a license will be granted to Medipure by Health Canada.

Forward-Looking Statements

Information in this press release that is not current or historical factual information may constitute forward-looking information, including future-oriented financial information and financial outlooks, within the meaning of securities laws. This information is based on certain assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the companies cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release and the companies disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release is not intended for distribution to U.S. newswire services, and should not be disseminated within the U.S.

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