Mettrum Health Corp.

January 06, 2015 08:00 ET

Mettrum Health Announces New Director Appointment and Grant of Options

TORONTO, ONTARIO--(Marketwired - Jan. 6, 2015) - Mettrum Health Corp. ("Mettrum" or "the Company") (TSX VENTURE:MT) (TSX VENTURE:MT.WT), a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, is pleased to announce the appointment of Mr. Jack Cashman to the Board of Directors of the Company.

Mr. Cashman is an executive with vast experience in the specialty healthcare, mining and technology verticals. Mr. Cashman held the position of Non Executive Chairman of Vectura Group plc U.K., a specialty pharmaceutical company, and he is a director of Telesat, the world's fourth largest satellite company. Mr. Cashman also held the position of Executive Chairman and Co-CEO of R.P. Scherer Corporation, an international developer and manufacturer of drug delivery systems.

"We are delighted to welcome Jack to the Board as his extensive leadership and industry experience in the specialty healthcare vertical will be extremely valuable for the Company and we look forward to his perspective as a Director of Mettrum," said Don Wright, Chairman of Mettrum.

In connection with Mr. Cashman's appointment as a new director and pursuant to the Company's stock option plan, the Board of Directors of the Company granted Mr. Cashman 25,000 stock options, exercisable at $2.16 per share, being the closing price of the Company's shares on the TSX Venture Exchange today. All 25,000 options will vest upon the first anniversary of the date of grant and are exercisable for five years from the date of grant.

About Mettrum Health Corp.

Mettrum Health Corp. is Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly-owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the Marihuana for Medical Purposes Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "MMPR"), which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis on the same date at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its other wholly-owned subsidiary, Agripharm Corp., at Agripharm's facility in Clearview, Ontario. With the Company's two licenses, Mettrum is a leading producer and vendor of medical marijuana under the MMPR system.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company and Mettrum disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

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