TORONTO, July 25, 2018 (GLOBE NEWSWIRE) -- MPX Bioceutical Corporation (“MPX”
or the “Company”) (CSE:MPX) (OTC:MPXEF) announced that it has filed today a Revised and Restated Management’s
Discussion and Analysis (the “Revised MD&A”) as at, and for, the three and nine month periods ended December
31, 2017.
The Revised MD&A supersedes the previous MD&A for the same period (the “Original
MD&A”).
The Ontario Securities Commission (the “OSC”), in connection with a staff review of the
Company’s filings requested the below revisions to the Original MD&A.
The Revised MD&A provides additional disclosures related to the Company’s operations in the United States
cannabis industry and corrects typographic and grammatical issues. These additional disclosures were included to conform to the
guidance provided in CSA Staff Notice 51-352 (Revised) – Issuers with U.S. Marijuana-Related Activities (the
“Staff Notice”).
The Revised MD&A includes enhanced disclosure regarding each of the Company’s material assets and
investments in the United States, including describing whether each asset or investment constitutes “direct”, “indirect” or
“ancillary” involvement in the United States marijuana industry (as such concepts are defined in the Staff Notice). The Revised
MD&A also includes disclosures regarding the regulatory framework in each United States jurisdiction in which the Company
operates, as well as disclosures regarding its compliance with applicable laws and regulatory requirements in such jurisdictions.
The Revised MD&A includes a description of the Company’s systems for monitoring compliance with applicable laws and the
regulatory requirements in each applicable United States jurisdiction. The Company, in this disclosure, has expanded the risk
factor disclosure relating to the Company’s involvement in the United States cannabis industry.
The Revised MD&A also includes updates and clarifications regarding the Company’s Financial Statements for
the nine months ended December 31, 2017.
Other than as expressly set forth above, the Revised MD&A does not reflect any events that occurred after
the date of the filing of the Original MD&A.
The Revised MD&A was filed simultaneously with this press release on SEDAR at www.sedar.com.
About MPX Bioceutical Corporation
MPX, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement,
advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona
operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates
wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area. With
the acquisition of The Holistic Center, MPX added another operating medical cannabis enterprise to its footprint in Arizona.
Green Mart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation,
production and wholesale business, licensed for both the medical and “adult-use” sectors in Las Vegas, Nevada, and is already
selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter
the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under
the “Health for Life” brand.
In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to
three dispensaries and manages three full service dispensaries and one producer in Maryland.
In Canada, MPX has acquired Canveda, which has received its cultivation license from Health Canada, will operate
a cultivation and production facility in Peterborough, Ontario. The Company also leases a property in Owen Sound, Ontario, for
which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will
continue its efforts to develop its legacy nutraceuticals business.
Cautionary Statement Regarding Forward-Looking Information
This news release and the documents referred to herein, include certain “forward-looking statements” under
applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties,
and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those
expressed or implied by such forward-looking statements. Forward-looking statements in this news release and the documents referred
to herein include, but are not limited to, MPX’s objectives and intentions. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and
other factors, which may cause actual results and future events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties;
litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to
receive board, shareholder or regulatory approvals; those additional risks set out in MPX’s public documents filed on SEDAR at
www.sedar.com; and other matters discussed in this news release. Although MPX
believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. Except where required by law, MPX disclaims any intention or obligation
to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
On behalf of the Board of Directors
MPX Bioceutical Corporation (formerly The Canadian Bioceutical Corporation)
W. Scott Boyes, Chairman, President and CEO
For further information, please contact:
MPX Bioceutical Corporation (formerly The Canadian Bioceutical Corporation)
W. Scott Boyes, Chairman, President and CEO
T:+1-416-840-3725
info@mpxbioceutical.com
www.mpxbioceutical.com
Media Contact:
Anne Donohoe
KCSA Strategic Communications
212-896-1265
adonohoe@kcsa.com
Investor Contact:
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
212-896-1233 / 212-896-1203
pcarlson@kcsa.com / ebarker@kcsa.com
![Primary Logo](https://resource.globenewswire.com/Resource/Download/e0b7d491-e73b-479c-9374-b898e7e6bdf3?size=1)
![](http://www.globenewswire.com/newsroom/ti?ndecode=NzA2NDAjNzMzMjgxMg==)