PharmaCan Capital Corp.

PharmaCan Capital Corp.

February 26, 2015 08:30 ET

PharmaCan Announces In The Zone Produce Ltd. Receives MMPR License Renewal From Health Canada

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2015) -


PharmaCan Capital Corp. (TSX VENTURE:MJN) ("PharmaCan") is pleased to announce today that its wholly-owned subsidiary, In The Zone Produce Ltd. ("In The Zone") has received notice from Health Canada confirming the renewal of its Marihuana for Medical Purposes Regulation ("MMPR") license. The term of the license renewal is one year, expiring on February 26th, 2016.

"This is a great milestone for In The Zone, and an important step towards positioning In the Zone as a large scale and consistent producer of quality assured medicinal marihuana," said Paul Rosen, PharmaCan's President and CEO.

To facilitate the renovation activities at In The Zone's existing facility, In The Zone recently submitted an application to Health Canada, as per section 29 of the MMPR, requesting the temporary removal of the sale and shipping activities on its license until its renovations are completed. In The Zone anticipates beginning its renovations in March and expects to be in a position to file an application to restore the activities of selling and shipping during May 2015.

"In the Zone is pleased to be able to demonstrate its ongoing commitment to working responsibly to promote the important long term policy goals of the MMPR. We are grateful to Health Canada for its valuable assistance in responding to our plans for In the Zone. With this renewal, we could not be more optimistic about In the Zone's future as an integral long term supplier to patients across Canada seeking medical marihuana with their physician's support", added Mr. Rosen.

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 25 companies licensed by Heath Canada to produce medical marihuana.

About In The Zone

In the Zone is a Licensed Producer of medical marihuana under Canada's MMPR program. Its facility resides on a 14-acre parcel of land owned by PharmaCan Capital in the Okanagan Valley in British Columbia.

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