2014-04-11 14:32:05 -
ancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) is pleased to announce it has initiated discussions with parties in both Canada and the United States that have applied for commercial licenses to legally produce marihuana.
In Canada, the Company is in discussions with parties that have applied to Health Canada to become licensed producers under the new Marihuana for Medical Purposes Regulations (MMPR) that went into effect April 1, 2014. Under the MMPR, licensed producers can be authorized to possess, sell and or provide, ship, deliver, transport, destroy, produce, export and or import marihuana for medical purposes.
In the United States, the Company is in discussion with parties who have applied to the Washington
State Liquor Control Board to become licensed to produce, process and sell recreational marihuana. While medical marihuana is legal in 20 US states, Washington along with Colorado are the only states to legalize the non-medical use of marihuana.
“The regulation of the marihuana industry in North America is attracting significant attention from the investment community and it is Noram’s intention to capitalize on the opportunity to participate in this emerging industry", said Noram president, Dave Rees.
While discussions are ongoing, the Company can make no assurances that an agreement will be concluded in the future.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM) is a Canadian based company with a project generator business model. Although the Company’s primary business focus since formation has been the exploration of mineral properties it is now seeking new business opportunities that offer the potential for near term cash flow to create shareholder value.
For further information, please visit www.noramventures.com.
For corporate, media, or investor communications contact:
Greg Lytle, Direct: (604) 839-6946, Email: firstname.lastname@example.org
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David W. Rees”
President & Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding exploration work on the properties. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, and (7) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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Source: Noram Ventures Inc. (TSX Venture:NRM)
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