TORONTO, ONTARIO--(Marketwired - March 4, 2014) -
PharmaCan Capital congratulates Chris Pelz and the Whistler Medical Marijuana Corporation (Whistler Medical) on receiving a license to produce and distribute medical marihuana in Canada on February 28th.
"We are so incredibly proud to have helped capitalize two of the first nine companies in Canada that are now authorized by Health Canada to grow and sell medical marihuana", said PharmaCan CEO Paul Rosen.
"Whistler Medical's combination of industry and entrepreneurial expertise and their powerful and recognizable brand will both contribute to Whistler Medical evolving into one of the great companies operating in Canada's medical marijuana industry" declared Mr. Rosen. "Those natural abilities and incredible brand are both underpinned by the extremely high quality product produced at Whistler Medical and the strong sense of community that Whistler operates from" continued Mr. Rosen.
PharmaCan's first investee company, The Peace Naturals Project Inc. (Peace) received its commercial production license in October 2013 and is located in Ontario,
PharmaCan's third investee company, Vert Medical/Green Medical (VMGM) is located in Quebec.
Mr. Rosen is "very confident that Vert Medical/Green Medical will achieve its commercial license under MMPR in the near future. We are actively evaluating additional investment opportunities across the medical marijuana industry's emerging value chain, and are excited to be a contributor to the development of this important industry".
Since its inception in January 2013, PharmaCan has raised and deployed approximately $4,000,000 to Canadian commercial growers and commercial production license applicants. "It is our intent to apply for a Canadian public listing in 2014 and if it is obtained then the opportunity to invest in this rapidly growing industry will continue to expand" stated Mr. Rosen.
"PharmaCan Capital continues to execute its strategy of helping to build a National Canadian network of licensed medical marijuana producers with the ultimate aim of developing a collaborative approach amongst them. This will help create a best practices environment for the benefit of all Canadian's with conditions where medical marijuana has a therapeutic role to play in their treatment".
ABOUT PHARMACAN CAPITAL
PharmaCan Capital is a Canadian company actively pursuing investment opportunities in the medical and legal cannabis industries. PharmaCan has made three investments in Canadian commercial growers, and to date, two have obtained a license to distribute medical marihuana from Health Canada.
ABOUT WHISTLER MEDICAL MARIJUANA COMPANY
The Whistler Medical Marijuana Company is a locally owned and operated business in Whistler B.C., a place where "alternative" and "leading edge" are part of the community fabric. The focus is on producing the highest quality crops of medicinal marijuana, grown organically, on a small scale, sourced from leading pioneer seed stock from around the world.
The goal of the Whistler Medical Marijuana Company is to develop medical marijuana at a world class level and to lead the development of pioneer strains and growing methods that will help patients seeking to make an informed choice.