Mr. Jason Walsh reports

THELON CAPITAL ANNOUNCES CHANGE OF BUSINESS: PLANS TO ACQUIRE MMPR LICENSE APPLICANTS AND OFFER RELATED TECHNOLOGIES, PRODUCTS AND SERVICES

Thelon Capital Ltd. has become engaged in the business of becoming a licensed producer for marijuana for medical purposes and developing and supplying technologies, products and services to support licensed producers under Canada's marijuana for medical purposes regulations. The company has decided not to pursue its option to obtain a mineral resource property interest.

The company provides the following updates:

Acquisition of MMPR licence applicants

The company is currently in the final stages of negotiation to acquire two private companies that have submitted licence applications to Health Canada pursuant to MMPR.

Listing application to the CSE

The company has decided to list its securities for trading on the Canadian Securities Exchange and delist from the TSX Venture Exchange. The company is currently in the process of preparing its CSE listing application.

Extension of due diligence period

On May 13, 2014, the company announced that it had entered into a memorandum of understanding to purchase 100 per cent of a private federal corporation, 8824479 Canada Inc. (Holdco). Holdco has the exclusive option to purchase a 30-per-cent interest in the Cannabinoid Medical Clinic. Thelon has advanced $200,000 to Holdco to secure a 45-day due diligence period to enter into a definitive agreement. During the due diligence period, the company discovered that there are issues related to the approvals that would be required for the operation of cannabinoid medical clinics in certain Canadian provinces. On July 23, 2014, the parties agreed to extend the due diligence period until Sept. 30, 2014.

At this time, no transactions are in place, nor is there any assurance that any transactions will be concluded in the future. There is no assurance that the company or any of its subsidiaries will become a licensed producer under MMPR.

We seek Safe Harbor.