VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) - Thelon Capital Ltd. (the "Company") (TSX VENTURE:THC)(FRANKFURT:TFHC) is pleased to announce that it has entered into a MOU to purchase 100% of a Private Federal Corporation, 8824479 Canada Inc.(Holdco.) Holdco has the exclusive option to purchase a 30% interest in The Cannabinoid Medical Clinic. THC will advance $200,000 to Holdco to secure a 45-day due diligence period to enter into a definitive agreement.
Scott Walters, President of Thelon stated, "We feel this is a great opportunity to work with physicians who want to develop a good standard of care for the patients who are using medical marijuana. The research and education aspect of the clinic really stood out as an opportunity to set the standard for future growth. The Cannabinoid Clinics will be available to patients only by referral from their General Practitioners."
The Cannabinoid Medical Clinic will be the first in a series of clinics in Ontario to provide services to patients under the Marihuana for Medical Purposes Regulations (MMPR). The clinical mission is to facilitate safe access to medical marihuana to patients who may receive a therapeutic benefit.
This agreement is subject to Board, shareholder and TSX.V approval.
The Company continues to evaluate new projects, including, but not limited to, opportunities in agriculture, finance, and resources. At this time, no transactions are in place, nor is there any assurance that a new project will be concluded in the future."
ON BEHALF OF THE BOARD OF DIRECTORS
Scott Walters, President & Chief Executive Officer
Neither 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 of accuracy of this release.
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company. The forward-looking statements or information contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.