Inspiration Updates Proposed Acquisition of Compassion Cannabis
TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Inspiration Mining Corporation (CSE:ISM) (the "Corporation") is pleased to announce that its ongoing negotiations with Compassion Cannabis Corp ("Compassion") and the related due diligence is going very well and ahead of the targeted date. The Corporation has commenced discussions pertaining to the terms and conditions of a proposed share exchange agreement and the resulting structure of the Corporation's board of directors.
Compassion is a private Ontario company which has expertise to forward various facets of the explosive new market of the marijuana industry, including but not limited to the "Vape" market and dispensary centers for the industry. The Corporation believes that this is an extremely lucrative space with tremendous demand in the medical cannabis industry.
The cannabis market is growing exponentially every day with new and exciting innovations in the industry. Compassion has narrowed down its possible research and development locations to Portugal, U.K., or Switzerland. The upcoming legalization of cannabis in Canada has almost become a reality, and is expected to do so in the upcoming months.
Compassion is contemplating applying for a multi-jurisdictional license to give the company the opportunity to exploit its future endeavours. The Corporation is quite confident that with the expertise it has around it, that it will be successful in its application.
For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at 416.842.9000, www.inspirationmining.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Inspiration Mining Corporation via Globenewswire
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