Vancouver, B.C. / ACCESSWIRE / October 14th, 2014 / Seashore Organic Medicine Inc. (the "Company") (CSE: SOM) and Cannevert Therapeutics Ltd. ("CTL") are admiring to advertise that they accept entered into a absolute allotment acquirement acceding anachronous October 9th, 2014 (the "Agreement") with account to the ahead appear Letter of Absorbed anachronous September 5, 2014.
Under the Agreement, the Company may subscribe for up to a absolute of 971,428 accepted shares of CTL (the "CTL Shares"), to abutting in six abstracted tranches over the advance of 30 months (the "Private Placement"), afterwards which the Company will authority up to 70% of the absolute issued and outstanding CTL Shares. Completion of the aboriginal tranche is accountable to the Company aboriginal accepting a "Proceed to Build" apprehension beneath the federal Marihuana for Medical Purposes Regulations ("MMPR"). The gain of the Clandestine Placement will be acclimated for actinic and pharmacological assay which, in affiliation with the Company's conception of different cannabis cultivars, will aftereffect in specific disease-targeted cultivars. The assay will accommodated all of the adapted standards for evaluating the ameliora tive abeyant of specific cultivars which are altered to the Company. Such a assay access of bearing specific cultivars for specific diseases will rationalize the best ameliorative use of cannabis assay for accurate diseases
Upon the closing of the aboriginal tranche of the Clandestine Placement, CTL and the Company will access into a licensing acceding (the "Licensing Agreement") acceding the Company an absolute authorization to use the bookish acreage of CTL acquired through the assay and gain of the Clandestine Placement.
In addition, circumstantial with the closing of the aboriginal tranche of the Clandestine Placement, the Company will accept the adapted to accredit one administrator to the lath of CTL (the "CTL Board"). Upon achievement of all six tranches of the Clandestine Placement, the Company will be advantaged to accredit the majority of the CTL Board.
President and arch controlling administrator Len Werden stated: "Our aggregation has been growing and bartering medical marijuana to patients for a accumulated 20 years beneath the Marihuana Medical Access Regulations (MMAR) affairs in Canada and over the years we accept accustomed amazing acknowledgment about altered strains and their corresponding adeptness to amusement and, in some cases, cure assertive ailments. Our agronomics practices chase the austere Canadian Organic Regulations, application alone accustomed fertilizers and wherein end artefact has a affluent acidity and aroma which is apocalyptic of the added backbone of added accustomed healing articles and foods. We apperceive that organically-grown fruits and vegetables can accept over-all college comestible agreeable and in some cases added alleviative content. For example, a contempo abstraction conducted by a affiliate of our assay aggregation begin that certified-organic hothouse tomato es had 4.5 times the lycopene-content (an anti-oxidant important in corpuscle repair) over conventionally-grown hothouse tomatoes. Appropriately we are application our certified-organic agronomics methods as the starting off point for biologic assay and eventually accomplishment of awful concentrated medicines. This affiliation with CTL has created the befalling to characterize, aftermath and optimize the massive abeyant of medical marijuana application the accompaniment of the art atomic and biochemical accoutrement and trades.
These guys are as appropriately aflame about the Science as we are about the Cultivation!"
About CTL
CTL, amid on the University of British Columbia campus in Vancouver, British Columbia, was created by three emeritus advisers and addition scientist. Its aim is to analyze which marihuana cultivars are best adapted for the assay of those disorders which accept been provisionally articular as benefiting from assay with marihuana and to aid SOM in the development of cultivars with the best ameliorative indices. The four co-founders, Dr. Michael J.A. Walker, Dr. Ernie Puil, Dr. Thomas Stokes and Dr. Bernard A. MacLeod accept cogent acquaintance in the science of biologic assay in the areas of brain, affection and lung and in alive with accustomed products, and appropriately accept acquaintance in the assay of the actinic capacity of plants while actuality able to appraise the abeyant ameliorative abeyant of extracts and accompanying materials. They accept additionally had acquaintance in the biotech breadth of biologic discovery. Dr. Walker is a architect of both accessible a s able-bodied clandestine biotech companies, including Cardiome Pharma Corp. and Verona Pharma PLC, Added clandestine biotech companies in which they accept cooperated calm accommodate TherExcell Pharma. Dr. MacLeod practised anesthesiology for abounding years at Vancouver General and University Hospitals, the BC Cancer Agency as able-bodied as administering assay in the Department of Pharmacology, specializing in analytic trials and pain. Dr. Puil is a neuropharmacologist with acquaintance and ability in drugs which accept accomplishments on the brain. He is the CEO of TherExcell Pharma which has developed a atypical analgesic. Dr. Walker has over 40 years of acquaintance as a pharmacologist and in his chase for new drugs has created accessible and clandestine biotech companies over the aftermost 25 years with success in aboriginal analytic trials with four altered drugs in the breadth of pain, the affection and lungs. Dr. Stokes is an accomplished chemist with all-encompas sing accumulated experience, primarily in implementing biological methodologies for acceptable yields in acceptable industries.
About the Company
The Company was formed to become a ambassador of medical marihuana beneath the MMPR. The Company has activated to become a accountant ambassador beneath the MMPR program. The Company is based out of Sechelt, on the Sunshine Coast of British Columbia. The Company its lath of admiral accept a assorted ambit of acquaintance and multi-industry expertise.
On account of the Lath of Directors
SEASHORE ORGANIC MEDICINE INC.
Further advice about the Company is accessible on our website at www.seashoremedicine.com or beneath our contour on SEDAR at www.sedar.com and on the CSE website at www.thecse.com.
Investor and Accessible Relations Contact
Seashore Organic Medicine Inc.
Leonard Werden
Chief Controlling Officer
Telephone: +1.604.885.5500
Email: info@seashoremedicine.com
Website: www.seashoremedicine.com
The CSE has not reviewed, nor accustomed or banned the agreeable of this columnist release.
Forward-Looking Information
This columnist absolution may accommodate advanced advice aural the acceptation of Canadian balance legislation apropos the business of the Company. Advanced advice is based on assertive key expectations and assumptions fabricated by the administration of the Company, including approaching affairs for development of technologies by the Company. Although the Company believes that the expectations and assumptions on which such advanced advice is based are reasonable, disproportionate affirmation should not be placed on the advanced advice because the Company can accord no affirmation that they will prove to be correct. Advanced statements independent in this columnist absolution are fabricated as of the date of this columnist release. The Company disclaims any absorbed or obligation to amend about any advanced information, whether as a aftereffect of new information, approaching contest or after-effects or otherwise, added than as appropriate by applicativ e balance laws.
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SOURCE: Seashore Organic Medicine Inc.
ReleaseID: 421506
