Mettrum Health Corp.

October 07, 2014 08:00 ET

Mettrum Health Corp. Announces Listing of Warrants

TORONTO, ONTARIO--(Marketwired - Oct. 7, 2014) -


Mettrum Health Corp. (the "Company") (TSX VENTURE:MT), parent company of Mettrum Ltd. ("Mettrum"), a licensed producer under the Marihuana for Medical Purposes Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "MMPR") and a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, is pleased to announce that effective at the open of the market on October 8, 2014, the Company's 13,800,000 Transaction Warrants (as defined below) are expected to commence trading under the ticker symbol "MT.WT" on the TSX Venture Exchange (the "Exchange").

On September 30, 2014, the Company (formerly Cinaport Acquisition Corp., a Capital Pool Company listed on the NEX board of the Exchange) announced it had closed its qualifying transaction (the "Transaction") with Mettrum, pursuant to which the shareholders of Mettrum completed a reverse takeover of the Company.

As previously announced on July 29, 2014, Mettrum completed a private placement of 13,800,000 subscription receipts (the "Subscription Receipts"). Each Subscription Receipt was automatically exchangeable for one common share and one common share purchase warrant of Mettrum (a "Mettrum Warrant"), upon satisfaction of certain escrow release conditions (which conditions were satisfied immediately prior to the closing of the Transaction, as announced on September 30, 2014).

In connection with the Transaction and as described in the Company's September 30, 2014 press release and in the Filing Statement for the Transaction dated September 17, 2014 and filed on SEDAR at, among other things, the 13,800,000 Mettrum Warrants issued upon the automatic exchange of the Subscription Receipts were exchanged for 13,800,000 common share purchase warrants of the Company (the "Transaction Warrants"), with each Transaction Warrant entitling the holder thereof to acquire one common share of the Company for a period of 12 months from September 30, 2014, at an exercise price of $3.50 per common share.

About Mettrum Health Corp.

Mettrum Health Corp. is a Tier 1 Industry Issuer listed on the TSX Venture Exchange. Mettrum Ltd., the wholly owned subsidiary of the Company, is a Toronto-based company incorporated under the laws of the Province of Ontario and a licensed producer under the MMPR, which came into effect on October 1, 2013. Mettrum received its license from Health Canada on November 1, 2013 and began production of medical cannabis on the same date. Mettrum was the third company in Canada to receive a license under the MMPR. From its fully integrated medical grade facility located in Bowmanville, Ontario, Mettrum commenced sales of medical cannabis under the MMPR in January 2014.

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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