PharmaCan Capital Corp.
TSX VENTURE : MJN

PharmaCan Capital Corp.

April 01, 2015 11:14 ET

PharmaCan Capital Corp. Announces Approval of Increased Production Expansion at Peace Naturals Project

TORONTO, ONTARIO--(Marketwired - April 1, 2015) -

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

PharmaCan Capital Corp. (TSX VENTURE:MJN) ("PharmaCan") is pleased to announce that the Peace Naturals Project ("Peace"), a Licensed Producer under the Marihuana for Medical Purposes Regulations ("MMPR"), has received Health Canada's approval to begin medical Cannabis production in the first of two new manufacturing facilities on Tuesday, March 31, 2015.

"This is a tremendous milestone for Peace and a testament to the company's regulatory compliance, operational excellence, and proven track record." said Paul Rosen, PharmaCan's President & CEO. "PharmaCan is very pleased that Peace's increased production capacity will enable it to expand upon its commitment to providing patients with medical marijuana."

Peace Naturals Project Inc. received Health Canada's approval to begin producing medicinal Cannabis out of the first phase of the company's 2015 expansion plans. The company has built its campus on a 95-acre agricultural site with expansion plans that include the construction of two new purpose built commercial medicinal Cannabis manufacturing facilities that total 34,000 square feet in additional cultivation space. The expansion project, which began during the 3rd Quarter of 2014, is near full completion with areas of the first building now approved for production. The company expects the second building to be completed and ready for Health Canada inspection within the next 3 months. The approval received yesterday enables the company to more than double its current production capacity. Peace is currently licensed to produce 2,500 kilograms of medical cannabis a year.

The Peace Naturals Project Inc. was the first new federally licensed commercial medical Cannabis producer to be granted a license by Health Canada to produce and distribute medical Cannabis in Canada under the new Marihuana for Medical Purposes Regulations (MMPR) in October 2014. PharmaCan has a 27.4% ownership interest in Peace.

PharmaCan

PharmaCan is a company in the business of investing in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations ("MMPR"). PharmaCan has a diversified portfolio of investments including investments in three of the seventeen companies that are listed on Heath Canada's website as licensed to produce and sell medical marijuana as well as another two of the eight companies that are listed on Health Canada's website as licensed to produce medical marijuana.

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