TORONTO, ON--(Marketwired - February 26, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
PharmaCan Capital Corp.
(TSX VENTURE: MJN) ("PharmaCan" or the "Corporation") has been served with a Statement of Claim filed by 2073056 Ontario Ltd (see press releases dated October 9, 2015, October 15, 2015, November 6, 2015, November 27, 2015, December 18, 2015 and January 13, 2016) in the Ontario Superior Court of Justice. The claim alleges that PharmaCan unlawfully interfered with 2073056 Ontario Ltd.'s economic interest and seeks damages in the amount of $50,000,000.00.
PharmaCan's CEO Paul Rosen commented, "PharmaCan views the allegations contained in the lawsuit as being without factual or legal foundation and without merit. The claim alleges PharmaCan obstructed 2073056's ability to close on the terms of the share purchase agreement entered into with the Barnes Family Trust on September 22, 2015. Pharmacan is considering carefully all of its options regarding this frivolous and vexatious action and will be defending itself vigorously."
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 29 companies licensed by Health Canada to produce medical marihuana.
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.