Mr. Paul Rosen reports

PHARMACAN NOTIFIED OF UPDATE ON THE CLOSING OF SALE OF SHARES OF PEACE NATURALS

PharmaCan Capital Corp. has been provided with an update, indicating the proposed sale of the Barnes Family Trust's shares in Peace Naturals is scheduled to close on Dec. 11, 2015 (see press releases dated Oct. 9, 2015, and Nov. 6, 2015). Additionally, PharmaCan has been notified that, based on the formula called for in the share purchase agreement, the estimated share price contemplated by this transaction is $7.33 per share. The update also advised that a sum of $2.5-million will be held back on closing pending determination of certain contingent liabilities, resulting in an estimated distribution to selling shareholders at closing of approximately $6.38 per share, with the remaining available holdback to be allocated pro rata to selling shareholders at a later date. The company has been advised that Henderson Partners LLP, chartered accountant, has been retained to perform a review of the inputs and liabilities that are being used to determine the exact share price calculation.

PharmaCan has notified the Barnes Family Trust that it will be exercising its right to tag along rights to sell its shares. PharmaCan owns 662,992 shares of Peace Naturals.

There is no assurance the proposed transaction will be completed. The proposed transaction is subject to risks beyond the control of PharmaCan.

We seek Safe Harbor.