PharmaCan Capital Corp.
TSX VENTURE : MJN

PharmaCan Capital Corp.

June 29, 2015 18:58 ET

PharmaCan Capital Obtains $750,000 Bridge Financing

TORONTO, ONTARIO--(Marketwired - June 29, 2015) -

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

PharmaCan Capital Corp. (TSX VENTURE:MJN) ("PharmaCan" or the "Company") is pleased to announce that it has arranged a $750,000 bridge loan which is non-interest bearing for the first 60 days and accrues interest at 15% per annum for the balance of the one year term of the bridge loan. As consideration for the financing, the Company will pay an initial structuring fee of $15,000 and issue 200,000 common shares of the Company. Under certain circumstances, the Company is obligated to pay an additional $200,000 structuring fee to the lender.

The proceeds from the financing will be used to continue the build out of PharmaCan's In The Zone production facility in the Okanagan Valley, BC, and for working capital and general corporate purposes.

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 Produce Ltd. 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.

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