Inexco Mining Corp.
CNSX : IMC

October 14, 2014 09:15 ET

Inexco Announces Update on Acquisition and Board of Directors of Worldwide Marijuana Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 14, 2014) - INEXCO MINING CORP. (the "Company") (CSE:IMC) is pleased to announce that it is conducting its due diligence on Worldwide Marijuana Inc. ("WMI"). As disclosed in its news release dated September 23, 2014, the Company is in the process of acquiring WMI pursuant to a share exchange (the "Transaction").

Worldwide Marijuana Inc.'s board of directors and advisory board will, on closing the Transaction, include the following:

Robert Marsh, Director and President

Bob Marsh, a retired commander, served in the Canadian Forces as a naval officer until 1989, after which he attended the Canadian Forces Command and Staff College, graduating with distinction. He subsequently served as an executive officer on the HMCS Algonquin and then commanding officer on the HMCS Huron. He later served at the National Defence Headquarters in Ottawa as a section head in the Directorate of Force Structure and as a special liaison to NATO. At the Maritime Pacific Headquarters in Victoria, Bob served as deputy chief of staff operational readiness, accountable for West Coast fleet operational readiness and for liaising with US Naval Headquarters in San Diego and with the Third Fleet in Hawaii. After retiring in 2006, Bob used his training, personnel, and leadership skills to support Health Canada as a liaison and planning stakeholder, focusing on assisting doctors and approximately four hundred patients in obtaining licences under the Marihuana Medical Access Regulations (the "MMAR"). With the evolution of the MMAR to the new Marihuana for Medical Purposes Regulations (the "MMPR") Bob has become involved in creating WMI and a business model to assist organizations in creating plans and preparations to enter into the commercial licensing program or to sustain themselves while navigating the requirements of the program and effectively fulfilling the needs of their patients.

Gordon Fretwell, BCom., LLB, Director and Corporate Secretary

Formerly a partner at a large Vancouver law firm, Gordon Fretwell has been practising securities law for the past twenty-five years and is experienced in providing corporate and securities legal advice both to companies in the process of going public and to established companies trading on public stock exchanges. Gordon acts for various public companies including those involved in the resource, biomed, oil and gas, and technology sectors as well as companies involved in the newly emerging medical marihuana sector. In addition to practising law, Gordon is a director and officer of various companies trading on the TSX Venture Exchange, the TSX, and the NYSE. Gordon has extensive experience in providing corporate governance advice to public companies and sits as an independent director on various audit, compensation, and corporate governance and nominating committees. He has chaired multiple special committees on takeovers and other business combinations of public companies.

Dr. Bill Code, MD, FRCDE, Director

Dr. Code, a retired anesthesiologist, has since 1997 been involved in research and investigation of the cause of various autoimmune diseases that result in severe pain and neurological deterioration. Recently, Dr. Code completed a 2-year fellowship at the College of Medicine, University of Arizona. Dr. Code's areas of study include; Nutrition, Ayrvedic (Indian) Medicine, Traditional Chinese Medicine, Homeopathy, Osteopathy, and Herbal Medicine, and he is an expert in Glutathione, the master antioxidant that is vital to the detoxification process and which is often depleted in people suffering certain chronic diseases.As a speaker and author, Dr. Code books include; Who's in Control of your Multiple Sclerosis, Youth Renewed (with Claudia Tiefisher), Winning the Pain Game, and Point of Return (with Alesandra Rain and Andrea Crocker).

Vic Bruce, B.A. Education, Director

Vic Bruce holds a bachelor of education from the University of Calgary and was a director of the Saskatchewan Wheat Pool for twelve years, serving on the Member Relations, Audit and Environment and Health and Safety Committees. He is a graduate of the Institute of Corporate Directors Education program and holds his IDC.D designation. Vic also served as a director with Viterra Inc., a $6.1 billion company that is Canada's largest grainhandler with 6,000 employees. Vic is a past director of the Saskatchewan Farmland Security Board, which oversees the ownership of farmland in Saskatchewan.

Jerome Malysh, CGA, CFE, Director

As a senior economic crime investigator in the Royal Canadian Mounted Police, Jerome gained extensive experience in the collection of evidence, interviews of witnesses and suspects and the presentation of evidence before criminal and civil courts. Following his retirement from the Force in 1999, Jerome was the Senior Forensic Auditor for the Law Society of British Columbia and later joined a prestigious, international forensic accounting firm. In 2003, Jerome founded Malysh Associates to respond to an increasing demand for investigative and forensic accounting, and business risk management expertise for US and Canadian clients. His experiences in law enforcement and private practice are extensive and include successful investigations of a wide variety of financial and white collar crimes.

Dave Stephens, Advisory Board

Detective Sergeant Dave Stephens is a twenty eight year professional career Law Enforcement officer. Dave started his career in 1986 and has worked as a Constable in the Patrol Division, K9 Unit, School Liaison Division, and the Major Crime Unit. As a Sergeant, Dave has worked in the Patrol Division in charge of a platoon, and as a Detective Sergeant in the Major Crime Division. Dave's predominant experience in policing is in operational policing.

Dave is also a real estate investor, developer, and home builder and as the CEO of LIDA Homes Inc. Dave has built a successful real estate development and home building business in Victoria, British Columbia.

Jon Dizdar, Advisory Board

Jon has had a diverse business experience over the past twenty-four years, having been involved in horticulture, cannabis cultivation, pain management, patient care, and research. For the past six years, he has focused on researching medicinal cannabis for the treatment of chronic pain, cancers, and other diseases, developing and managing a three-year program for a chronic pain support group using medical marihuana and other alternative medicines at the VIHA Royal Jubilee Hospital Pain Management Center, including special events for Chronic Pain Awareness Week. Jon has worked in conjunction with a certified laboratory in the development of specialized tinctures and extracts to treat patients. Jon continues to counsel people in pain or affected by cancer and other diseases, educate doctors, and consult with one of North America's leading naturopath oncologists. Jon is a board member of the Chronic Pain Association of Canada and a member of the ICRS. He has built multiple MMAR gardens, with over two thousand HID lights deployed, and participated as a consultant in a $3-million facility in BC. Jon has a passion and persistence for quality, with vigilant ethical standards for the future of medicinal cannabis and other plant-based and natural remedies for healing the body.

Craig Engelsman, President and CEO of Inexco said: "We feel fortunate to have developed a relationship with Worldwide Marijuana Inc. with its board of directors and advisory personnel that has the diversity and depth to cover all of the disciplines necessary to become a leading company in the medical marijuana sector."

About the Company

Further information about the Company is available under its profile on the SEDAR website www.sedar.com and on the CSE website www.thecse.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Craig Engelsman, President and Chief Executive Officer

The Canadian Securities Exchange has not reviewed, nor approved or disapproved the content of this press release.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the Acquisition (including the structure of the Acquisition), the Transaction (including shareholder approval and other terms), the Private Placement (including its completion and the use of proceeds from the Private Placement), the directors and management of the resulting issuer upon completion of the Transaction, and the implementation of WMI's business plan. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.

Contact Information

  • Inexco Mining Corp.
    Craig Engelsman
    President and Chief Executive Officer
    (604) 783-0499