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CCK Canada Coal (delisted)

0.04
0.00 (0.00%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Canada Coal (delisted) TSXV:CCK TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.04 0.035 0.04 0 01:00:00

Canada Coal Evaluating Opportunities in Medical Marijuana

14/04/2014 4:00pm

Marketwired Canada


Canada Coal Inc. (the "Company" or "Canada Coal"), (OTCBB:CDCLF) (TSX
VENTURE:CCK) announces in further to its press release of March 27th, 2014 that
it is currently exploring potential business opportunities in the Medical
Marijuana field. 


Canada Coal has 43,449,750 shares issued and outstanding with 52,411,725 fully
diluted. The Company has approximately $2,000,000 in cash and receivables
equating to approximately $0.05 per share and no debt.


This emerging billion dollar industry is currently undergoing significant
regulatory and legal reform that has created exciting growth opportunities. The
current Medical Marijuana industry is highly fragmented with significant changes
recently enacted by Health Canada which will likely consolidate growers into
larger commercial operations. Canada Coal is reviewing business opportunities
with a goal to obtain operations that have been granted "Licensed Producer"
status under the new Marijuana for Medical Purposes Regulations (MMPR).


The new MMPR license will allow for producers to grow on a larger, commercial
scale. Health Canada states, "The Government of Canada introduced the new
Marijuana for Medical Purposes Regulations which were published in Canada
Gazette, Part II on June 19, 2013. The new regulations aim to treat marijuana as
much as possible like any other narcotic used for medical purposes by creating
conditions for a new, commercial industry that is responsible for its production
and distribution."
(http://www.hc-sc.gc.ca/dhp-mps/marihuana/about-apropos/index-eng.php) 


The older Marijuana Medical Access Program (MMAP) was scheduled to end on March
31, 2014 but has been extend until further notice. This is also the date that
all Authorizations to Possess, Personal-Use Production Licenses and
Designated-Person Production Licenses were set to expire. As of April 1, 2014,
the only legal access to marijuana for medical purposes will be through licensed
producers under the Marijuana for Medical Purposes Regulations (MMPR), even if
you have an authorization to possess or a license to produce that has a later
date. (http://www.hc-sc.gc.ca/dhp-mps/marihuana/index-eng.php)


At this time, there are no assurances that a new project will be concluded in
the future. 


The Company announces that William F. Lindqvist and Michael MacDonald have
resigned as directors of the Company. Canada Coal's Management and Board of
Directors wish to thank Mr. Lindqvist and Mr. MacDonald for their contributions
to the Company and wish them well in their future endeavors. 


The Company welcomes Michael England to the Board of Canada Coal. Mr. England
has been involved in the public markets starting in 1983 working on the floor of
the Vancouver Stock Exchange as a floor trader after successfully completing the
Canadian Securities, Options and Futures Courses. Since 1995 Mr. England has
been involved directly with public companies serving various roles including
investor relations. Mr. England has been granted 200,000 options at $0.20 for 5
years.


On behalf of the Board of Directors

R. Bruce Duncan, Executive Chairman

The TSX Venture Exchange has in no way passed upon the merits of the Transaction
and 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. 


FORWARD LOOKING STATEMENTS: This news release contains forward-looking
statements, which relate to future events or future performance and reflect
management's current expectations and assumptions. Such forward-looking
statements reflect management's current beliefs and are based on assumptions
made by and information currently available to the Company. Investors are
cautioned that these forward looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected. These forward-looking
statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified by these
cautionary statements and by those made in our filings with SEDAR in Canada
(available at www.sedar.com). 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canada Coal Inc.
R. Bruce Duncan
Executive Chairman
604-638-0971
info@canadacoal.com
www.canadacoal.com

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1 Year Canada Coal Inc. Chart

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