(TheNewswire)
Vancouver, B.C. / TheNewswire / March 27, 2017 – UMBRAL ENERGY CORP. (CSE: UMB)
(“ Umbral or Company ”) and the management of PhyeinMed Inc. (“PhyeinMed”) a Health Canada Stage 5 (Review Stage) applicant under the ACMPR (Access to Cannabis for Medical
Purposes Regulations) are pleased with the continued progress of our application due to the recent CBC news report released March
26, 2017 relating to the legalization of cannabis for non medical use. Umbral recently acquired an additional 25% interest in
PhyeinMed Inc., and now holds a total of 75% of the total equity.
Quoting from the article “ CBC News has learned that the legislation will be
announced during the week of April 10 and will broadly follow the recommendation of a federally appointed task force that was
chaired by former liberal Justice Minister Anne McLellan.
Bill Blair, the former Toronto police chief who has been stickhandling the marijuana file for the
government, briefed the Liberal caucus on the roll-out plan and the legislation during caucus meetings this
weekend.
The federal government will be in charge of making sure the country's marijuana supply is safe and
secure and Ottawa will license producers. While Ottawa will set a minimum age of 18 to buy marijuana, the provinces will have
the option of setting a higher age limit if they wish. The Liberals had promised to introduce
legislation by the Spring of 2017. Announcing the legislation the week of April 10 will allow the party to hit
that deadline.
PhyeinMed’s CEO Debra Senger “I am pleasantly surprised with the recent news report published by the CBC,
we had prepared ourselves for spring 2019 legalization, this is good news for our project as we will be ready for a robust
recreational market next spring.”
The company will continue to build shareholder value conducting due diligence on potential partnerships, international export opportunities, strategic
alliances, accessory and ancillary both medical and non medical markets and services that
will be in demand upon cannabis legalization.
About Umbral Energy Corp.
The Company is currently listed as a junior resource issuer having mineral exploration projects. The Company is
considering other activities to increase shareholder value, including non-resource projects.
The Company has mineral exploration projects in Utah, Nevada and Quebec. In addition the Company has an
interest in PhyeinMed, who has applied for a license from Health Canada to legally grow and sell medical
marijuana.
ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.
“Jag Bal”
Jagdip Bal President and CEO
NEITHER CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties
and other factors that may cause actual events to differ materially from current expectation. Important factors - including the
availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results
to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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