AXQ never follow through with cannabis intentionAre they going to do the same with blockchain? Need to be cautious with this company.
November 06, 2014 10:33 ET
Axe Makes an Update on its Intention to Evaluate New Business Opportunities
LAVAL, CANADA--(Marketwired - Nov. 6, 2014) - Axe Exploration Inc. (TSX VENTURE:AXQ) (the "Corporation") following April 9th press release announcing its intention to evaluate new business opportunities and eventually redirect its business to the medical marijuana and industrial hemp industries, Axe would like to make to following update:
- Although the company has looked at several projects, all remained in an embryonic stage.
- When management will have targeted a specific project, the Board will be notified and the project will be submitted to it for approval, before being submitted to the shareholders.
- The company is studying the possibility to apply for a license from Health Canada in order to become an authorized producer under the "Marijuana for Medical Purposes Regulations (MMPR)".
- In order to obtain a license for the cultivation and sale of marijuana for medical purposes, the company must demonstrate that it meets the requirements of Health Canada. Requirements with respect to infrastructure are very important and are explained in detail in the "MMPR".
- The company cannot establish a timeline and cost estimates, as no project has yet been targeted.
IN THE EVENT WHERE AXE IDENTIFIES SOME OPPORTUNITIES OR THE ESTABLISHMENT OF BUSINESS RELATIONSHIPS IN THE FIELD OF MEDICAL MARIJUANA, ANY TRANSACTION WOULD BE SUBJECT TO THE POLICIES AND PRIOR APPROVAL OF THE TSX VENTURE EXCHANGE.
THE CORPORATION HAS NO EXPERIENCE IN THIS FIELD AND NO ASSURANCE CAN BE GIVEN TO THE EFFECT THAT THE COMPANY WILL INTEGRATE THE FIELDS OF MEDICAL MARIJUANA OR INDUSTRIAL HEMP.
CURRENTLY, NO TRANSACTION IS IN PLACE AND THERE IS NO CERTAINTY THAT A NEW PROJECT WILL BE CONCLUDED IN THE FUTURE.
ABOUT AXE EXPLORATION INC.
Axe is a mining exploration company listed on the TSX Venture Exchange under the symbol AXQ. Prospecting work is currently ongoing on the GoldPeak Property. Axe intends to evaluate all the opportunities that offer the medical marijuana industry within North America.
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.