17:33:00 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Umbral Energy Corp
Symbol UMB
Shares Issued 64,172,146
Close 2017-02-16 C$ 0.08
Market Cap C$ 5,133,772
Recent Sedar Documents

Umbral partner advances to ACMPR review stage

2017-02-16 11:23 ET - News Release

Mr. Jagdip Bal reports

UMBRAL'S PARTNER PHYEINMED RECEIVES ACMPR APPROVAL TO COMMENCE STAGE 5

Umbral Energy Corp. partner PhyeinMed Inc. 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," stated Jag Bal, president and chief executive officer of Umbral Energy.

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, owned 50 per cent 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, B.C., has 13 acres of potential grow area with a 10,000-square-foot steel-framed building. PhyeinMed will initiate an aggressive growth strategy, planning an additional 20,000-square-foot phase 2 production facility expansion on the current site. Future expansion utilizing 100 per cent of the land use capabilities could allow for a total of 420,000 square feet 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 staff in key roles.

PhyeinMed's chief executive officer, Debra Senger, stated: "We are very happy with the recent news of our application status. As with most active applicants, the process can be gruelling. 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, which has applied for a licence from Health Canada to legally grow and sell medical marijuana.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.