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by Stockwatch Business Reporter
The TSX Venture Exchange added a fraction of a point to 781.49 Wednesday. Pat DiCapo and Dave D'Onofrio's fourth capital pool shell, POCML 4 Inc. (POCM), plans to acquire Pat McCutcheon's MediPharm Labs Inc., as its qualifying transaction. POCML, which has 10 million shares issued, plans to roll back 1 for 2, and then issue 12.58 million shares to MediPharm holders.
|MediPharm extraction machine|
MediPharm obtained its licence to extract cannabis oil from dried marijuana leaves at the end of March. MediPharm does not have a cultivation licence, but it does not plan on growing marijuana, only working with growers to produce cannabis oil. It has an extraction warehouse in Barrie, Ont., where the company can process up to 100,000 kilos of dried marijuana a year. The extraction machines look similar to an espresso bar. It also has an office in Australia. Tinctures, oils and extracts are a burgeoning new trend. Newsletter writer James Dines has been advocating the administration of medicinal marijuana through ways other than smoking for years, and Colombia does not allow licensed marijuana producers to export dried marijuana leaves. They must first turn all of their marijuana into tinctures, creams and oils.
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