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Enter Symbol
or Name
USA
CA



Umbral Energy Corp
Symbol UMB
Shares Issued 63,342,146
Close 2016-12-14 C$ 0.035
Market Cap C$ 2,216,975
Recent Sedar Documents

ORIGINAL: Cannabis Task Force Report Implications

2016-12-14 14:40 ET - News Release

(via TheNewswire)

Vancouver, B.C. / TheNewswire / December 14, 2016 - UMBRAL ENERGY CORP. (CSE: UMB) (the " Company " or " Umbral ") with its partner, PhyeinMed Inc. ("PhyeinMed") is encouraged by the recommendations released by the Canadian government's task force report on marijuana legalization and regulation. The Liberal government ha s emphasized their desire to legalize, regulate, and restrict access to cannabis and the Task Force was engaged to complete the task of compiling recommendations which included government-vetted Licensed Producers as supplier s.

PhyeinMed is an ACMPR ( Access to Cannabis for Medical Purposes Regulations) applicant to become a licensed producer and believes that the recommendations put forth by the task force have a direct and encouraging impact on the direction of the company's business plan moving forward.

Debra Senger , Chief executive officer of PhyeinMed , commented: " We are encouraged by the recently released recommendations of the Canadian government's task force on marijuana legalization and regulation . W ith the extent of information submitted and gathered , I believe that the Government will adopt a sizeable number of the 80 or so outlined in the report. The Government would still need to draft legislation which is likely going to be spring 2017 with the intent to publish the revised legislation in the fall of next year at which time the new legislation will become law. While watching the press conference televised yesterday morning it was very apparent that both the Chair and Co-Chair of the task force agreed that the supply and demand under the new legalized recreational cannabis program would be significant. My belief, if a company is currently in the queue to become a producer such as ourselves of medical marijuana under the ACMPR, that we are preparing for the legal market an d a license for production. The system has been slow, which has discouraged many applicants. However, with the new legal market coming to Canada, the task force has absolutely acknowledged that supply will need to be ramped up and quickly. In the report "Canada's governments will need to move swiftly to increase or create capacity in many areas relating to the production and sale of cannabis". We are currently in the security clearance stage and I am hopeful that we will move into the next stage of the application early in the new year."

PhyeinMed with its investment partner Umbral, will continue with short and long term initiatives to investigate and pursue ancillary opportunities in the cannabis industry.

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.

"Jag Bal"

Jagdip BAL

President and CEO

UMBRAL ENERGY CORP.

929 Mainland Street, Vancouver, BC V6B 1S3

Tel: (604) 628-1767 | Fax: (604) 628-0129

info@umbralenergy.com | www.umbralenergy.com

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 .

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