Anexco Resources Ltd.
CNSX : AXO

July 03, 2014 08:00 ET

Anexco Provides Update on Corporate Developments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 3, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Anexco Resources Ltd. (CSE:AXO) ("Anexco" or the "Company")

Anexco would like to provide an update on its recent corporate developments. Anexco is pursuing multiple opportunities within the medical marijuana sector through its wholly-owned subsidiary, Kaneh Bosm BioTechnology Inc., as follows:

MEDICAL CANNABIS PRODUCTION FACILITY: Further to the news release dated May 13, 2014 Anexco continues to work towards developing a definitive agreement on the lease of a medical marijuana production facility (the "Facility") and expects the conclusion of these negotiations in the coming weeks. Once the formal closing of the leasing transaction is complete a Licensed Producer application will be filed with Health Canada using this Facility. The Company understands that a first inspection by Health Canada could happen within eight weeks thereafter.

The facility encompasses 6,000 sq. ft.; has 388 1000W lights; and has an annual production capacity of 2,500 kgs of biopharmaceutical grade medical Cannabis. All building permits including structural, electrical and fire have been obtained by the local municipal authorities, and the facility includes fire suppression and sophisticated security systems. Furthermore, the facility is scalable to approximately 60,000 sq. ft.

MEDICAL CANNABIS DISPENSING KIOSKS: The Company continues to work towards negotiating a definitive agreement with Alps Innovations to exclusively develop, market, and distribute a line of intelligent, automated medical marijuana retail kiosks for the North and South American markets. The Company feels that this technology will revolutionize medical marijuana retail.

These kiosks will also be marketed into commercially legal marketplaces such as Colorado and Washington State, and Uruguay.

Distribution partnerships are invited. Interested parties should contact Anexco Resources Ltd. at 604 782 4191.

It is anticipated that a CSE form 2 Listing Statement will be filed in the near future, disclosing the new corporate direction focused on medical marijuana.

The company continues to pursue multiple opportunities within the marijuana sector which will clearly differentiate Kaneh Bosm BioTechnology Inc. from every other company in this sector, and provide maximum return for shareholders. This may include using a third party physician- referring dispensary network.

On behalf of the Board of Directors of Anexco Resources Ltd.

"Michael Martinz"
Michael Martinz
President, Director
"Rudy de Jonge"
Rudy de Jonge
CEO, Director

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.

Contact Information

  • Anexco Resources Ltd.
    Tel: 604.782.4191
    Fax: 604.637.9614