Cameo Resources Corp.

November 09, 2016 13:51 ET

Amended News Release: Cameo Resources Corp Signs LOI to Enter Marijuana Industry

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 9, 2016) - IIROC has requested for a clarification of the Cameo Resources Corp. (TSX VENTURE:CRU)(OTC PINK:SIDNF)(the "Company") News Release dated November 09, 2016. The company wishes to inform shareholders that this news release is not a change of business and Cameo still is 100% mineral exploration company.

At this point, the company is only reviewing information provided by Green Fields Hydroponics (GFH) of Portland Oregon. The revenue, employment figures and forecasts stated in the news release were provided by GFH.

Cameo Resources Corp. is still pleased to have signed a Letter of Intent with Green Fields Hydroponics of Portland Oregon. It's an opportunity that the Cameo wants to explore. The signed letter of intent is for exchange of information with GFH and currently, there is no definitive agreement signed and no compensation terms are stated in the letter. The letter is to ensure that confidentiality is maintained as Cameo continues to discuss future business opportunities with GFH.

"Recreational marijuana is now legal in California - and that's a game changer for public health. Though 25 other states have already legalized weed for medicinal purposes and four for recreational purposes, the size and population of California puts its decision in a different league and it could lead the way to figuring out policy around the drug. Current projections have Maine, Nevada, and Massachusetts voting to legalize recreational marijuana, while Arizona voted against legalizing recreational pot.

Medical marijuana was also on the ballot for several states. Current projections have North Dakota, Montana, Arkansas and Florida all expected to approve medical marijuana."

- The Verge

Akash Patel, president of Cameo, remarks that: "Signing of this LOI does not shift the company's focus on its ongoing commitment to mineral exploration. However, we expect to complete our due diligence by year end and update our shareholders along the way."


Akash Patel, President

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.

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