TORONTO, Sept. 25, 2018 (GLOBE NEWSWIRE) --
Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
POCML 4 Inc. (TSXV: POCM) (the “Company”) is pleased to announce that it has filed on SEDAR its filing statement dated effective September 24, 2018 (the “Filing Statement”) in connection with its proposed business combination with MediPharm Labs Inc. (“MediPharm”), which will result in a reverse take-over of the Company by the shareholders of MediPharm (the “Transaction”). Subject to satisfaction of all conditions and approvals, including the satisfaction of the conditions of the TSX Venture Exchange (the “TSXV”), the Transaction is expected to close on or about October 1, 2018. The Company expects that the common shares of the Company as they exist after closing of the Transaction will commence trading on the TSXV under the symbol LABS on October 3, 2018.
For further information, please refer to the Filing Statement on SEDAR at www.sedar.com, as well as the press releases of the Company dated May 15, May 31, June 29, July 16, August 23, 2018 and September 21, 2018 available on SEDAR at www.sedar.com.
About MediPharm Labs Inc.
Founded in 2015, MediPharm is a pioneer in the cannabis industry and has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the Access to Cannabis for Medical Purposes Regulations (ACMPR) without first receiving a cannabis cultivation licence. This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm to work with its established, Health Canada-approved cultivation partners to produce pharmaceutical-grade cannabis oil with a competitive advantage. MediPharm is research-driven and focused on downstream secondary extraction methodology, distillation, and cannabinoid isolation and purification. MediPharm provides B2B contract processing of cannabis to Canadian authorized licensed producers and appropriate international growers, supplying integrity-assured cannabis oil to qualified companies for sale under their own brand. In addition, MediPharm will supply raw materials, formulations, processing and packaging for the creation of ready-to-sell advanced derivative products.
Website: www.medipharmlabs.com
For further information regarding the Transaction, please contact:
David D’Onofrio, Chief Executive Officer, Chief Financial Officer, Secretary and Director, POCML 4 Inc.
| Telephone: | 416-643-3880 | |
| Email: | ddonofrio@poweronecapital.com | |
Patrick McCutcheon, President, Chief Executive Officer and Director, MediPharm Labs Inc.
| Telephone: | 705-719-7425 | |
| Email: | pmccutcheon@medipharmlabs.com | |
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the anticipated date that trading will commence and the anticipated closing date of the Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the 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, competitive, political and social uncertainties; and the delay or failure to receive regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company and MediPharm assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.