SOURCE: PharmaCan Capital Corp.

PharmaCan Capital Corp.

November 06, 2015 10:04 ET

PhamaCan Notified of Update on the Closing of Sale of Shares of Peace Naturals

TORONTO, ON--(Marketwired - November 06, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

PharmaCan Capital Corp. (TSX VENTURE: MJN) ("PharmaCan" or the "Company") announces that the Barnes Family Trust ("BFT") has provided an update that the proposed sale of its shares in Peace Naturals is scheduled to close on November 25, 2015. Additionally PharmaCan has been notified that based on the formula called for in the Share Purchase Agreement the adjusted share price contemplated by this transaction is $7.24 a share. PharmaCan has been provided with a new Notice of tag along rights, which must be responded to by November 23, 2015. PharmaCan owns 662,992 shares of Peace Naturals.

There is no assurance the sale will be completed which is subject to risks beyond the control of PharmaCan.

About PharmaCan Capital Corp.

PharmaCan is a company in the business of investing in companies either licensed, or actively seeking a license, to produce medical marihuana pursuant to Canada's MMPR. PharmaCan has a diversified portfolio of investments including investments in 5 of the 26 companies licensed by Health Canada to produce medical marihuana.

Neither the 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.

Contact Information