Vancouver, B.C. / TheNewswire / February 16, 2017 - UMBRAL ENERGY CORP. (CSE: UMB) ("Umbral" or "Company") is pleased to announce that PhyeinMed Inc. ("PhyeinMed") has received notification from Health Canada that its ACMPR (Access to Cannabis for Medical Purposes Regulations) application has progressed through to the Review Stage (stage 5 of 7) of the application process.
"Having the application successfully move to the Review Stage is a monumental step for Umbral and our partner PhyeinMed. The goal of becoming a licensed producer in Canada has moved closer to becoming a reality" states Jag Bal, president and CEO of Umbral Energy Corp.
All of the key persons submitted with the application have undergone a rigorous and thorough screening process and have been approved. The checks conducted go beyond the verification of an individual's criminal record check and include a check of the relevant files of law enforcement agencies, including intelligence gathered for law enforcement purposes.
PhyeinMed Inc., owned 50% by Umbral is committed to becoming a licensed producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). PhyeinMed's property located in Falkland BC, is 13 acres of potential grow area with a 10,000 sq. ft. steel framed building. PhyeinMed will initiate an aggressive growth strategy, planning an additional 20,000 sq. ft. phase II production facility expansion on the current site. Future expansion utilizing 100% of the land use capabilities could allow for a total of 420,000 sq. ft. of growing capability. Having the ability to expand at one site affords Phyeinmed redundancy and the ability to increase productivity without the need to duplicate personnel in key roles.
PhyeinMed's CEO, Debra Senger states "We are very happy with the recent news of our application status. As with most active applicants, the process can be grueling. I am thankful for the team of professionals that supported this process and the loyal shareholders of Umbral who continued to believe in our application. I believe one of the more difficult hurdles of the application process is behind us."
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.
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.