Medical Marijuana & industrial hemp
Board of Directors have approved the Company’s plan to enter the medical marijuana business. The Company completed the acquisition of 1005477 BC Ltd. (“1005477 BC”), a holding company which owns 50% of PhyeinMed Inc. (“PhyeinMed”) an operating company with a submitted application to Health Canada for a MMPR Licence. This acquisition is not a Fundamental Change, as defined in Policy 8 of the Canadian Securities Exchange. However, if the Acquisition results in a Fundamental Change, the approval of the Company’s shareholders is required. There can be no assurance that the Acquisition or any other transactions for the Company’s prospective projects in the medical marijuana industry will be successfully completed.
See below for an update on PhyeinMed Inc. (“PhyeinMed”), an operating company with a submitted application to Health Canada for a MMPR Licence.
PhyeinMed, its officers and directors have submitted a security clearance application as required to Health Canada and are awaiting further feedback.
Jag Bal, President of Umbral states, “Umbral remains committed to the Health Canada process with our partner PhyeinMed, as they continue to work diligently through the various stages of the MMPR application process. We believe that PhyeinMed`s experienced team and their designated 13 acre site with an 11,000 sq. ft. building, which is located in Falkland, BC, has Umbral well positioned in this rapidly growing Cannabis sector in Canada. We have remained hopeful throughout this licensing process”.
Health Canada Medical Purposes Regulations
PhyeinMed Advisory Team
Senior Security Advisor – David Hyde, M.Sc, CPC - David Hyde is a security and risk management specialist with a range of professional distinctions. He is an industry-recognized leader, respected senior advisor, and life-long learner and educator. Over his 26-year career he has owned and operated an award-winning business, guided security at some of Canada's most iconic landmarks and led the enterprise security program for a $17 billion global corporation. As a corporate security executive with commercial real estate company, Cadillac Fairview, David built the national security strategy and set company policy for security and crisis management across 83 site locations. He assembled a well-respected team of five regional directors, forty site security managers and 550 front-line security staff.
David holds a M.Sc (with Distinction) in Security & Risk Management from the University of Leicester and a Certificate in Security Management from the University of Calgary. He has completed The Wharton School's Development Program for Security Executives and is a Certified Advanced Level CPTED Practitioner. He is also certified to perform Threat Risk Assessments through the International Security Management and Crime Prevention Institute (ISMCPI) and holds the Certified Professional Coach designation.
Senior Horticultural Advisor – Greg Salloum, M.Sc. - Greg received his B. Sc. (Agr.) from McGill in 1982 and then his M. Sc. from UBC in 1987. His undergrad was in Plant Science with a specialty in Horticulture. His Masters’ degree thesis was a cross disciplinary effort in Entomology and Plant Biochemistry. He focused on screening indigenous petroleum ether and ethanol plant extracts for insect anti-feedant activity. While he was finishing his Masters he began working with Safer Ltd. in Victoria, BC developing formulations of botanical insecticides with his research team. They developed a number of patented products with pyrethrum and neem oil in combination with salts of fatty acids.
Since 2010, Greg began his most current project: an organic farm. The farm is now supplying some of the vegetables to their leased restaurant at the Best Western Plus Hotel and Suites. He continues to research new organic horticultural methods for his future endeavors including utilizing humic and fulvic acid, as well as beneficial microorganisms.
While it is the intention of Umbral and PhyeinMed to obtain a MMPR Licence, there can be no assurances that it will receive the necessary permits to operate. Any MMPR applicant, including PhyeinMed, will not be able to legally grow or sell medical marijuana without a licence from Health Canada.
The new Marihuana for Medical Purposes Regulations, sets up a new system whereby individuals, who have their health care practitioner's support, would access marihuana for medical purposes from licensed producers.
Licensed producers will have to meet strict security and quality standards and notification of local police is a requirement of the application to become a licensed producer. Health Canada will have a list of licensed producers and the proof of authority to possess marihuana for medical purposes will either be the label on the packaging or a separate document accompanying the shipment of dried marihuana provided by the licensed producer.
The maximum amount that may be possessed by those holding this authorization is 30 times the daily amount as indicated by their licensed health care practitioner, to a maximum of 150 grams.
Individuals who access marihuana for medical purposes are not permitted to:
PhyeinMed has submitted an MMPR Licence to Health Canada
Gerlach Nevada Lithium Brine
The Letourneur Gold
Medical Marijuana & Industrial Hemp
The Tule Valley Lithium Exploration
Jag Bal, President & CEO
Umbral Energy Corp.
929 Mainland St.
Vancouver, BC V6B 1S3
Umbral Energy Corp. is a resource exploration company, management will continue to review opportunities to increase shareholder value.
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UMBRAL INDUSTRIAL HEMP APPLICATION
Umbral is pleased to announce that in partnership with a hemp based Canadian company is proceeding with an investment to finance the application of an industrial hemp licence.
On November 21, 2016, Health Canada issued a Section 56 Class Exemption in Relation to the Industrial Hemp Regulations (Exemption). The Exemption better aligns regulation of industrial hemp with the demonstrated low public health and safety risk of the crop. The Exemption is an interim measure to simplify the license application process as the Government moves forward with its commitment to legalize, strictly regulate, and restrict access to marijuana. Umbral plans to finance and participate in an industrial hemp license application for the purpose of cultivating hemp. Initially the partnership plans to take advantage of land currently under option and will identify the planting site within 15 days of seeding. Due to the regulation amendments there is no longer a minimum acreage requirement. One license will cover all cultivation sites and activities. The decision by Umbral and its partners to pursue this opportunity is based on the Government’s commitment to legalize cannabis and the opportunities to process hemp for a variety of ancillary industries.
According to the Canadian Hemp Trade Alliance (CHTA). "Hemp could serve as a Canadian medicinal health product because it contains cannabidiol (CBD) but almost no THC, the psychoactive component," says Kim Shukla, Executive Director, CHTA. "Ironically, today Canadians who need the beneficial cannabinoids to treat medical conditions only have recourse to marijuana, while these components of our hemp crops are being left to waste in Canadian fields. Hemp farmers want the option to harvest their entire crop and explore the opportunity for the whole plant, including cannabinoids such as cannabidiol (CBD)," adds Shukla. "New research continues to build the mounting body of evidence that CBD can have positive health effects, the situation is particularly poignant in the case of childhood epilepsy, for which high CBD is proving to be an effective treatment”.
There is a growing body of clinical research demonstrating its potential therapeutic uses. Many natural health products including topical formulations could be developed. There are high levels of CBD in hemp and hemp does not have the psycho-activity that is prevalent in cannabis. Right now, the cost to patients of high CBD cannabis is equivalent to high THC cannabis as it is being grown in the same high security facilities. Allowing hemp farmers to harvest CBD from their crops could substantially reduce the cost of CBD for patient care.
ACMPR APPLICATION UPDATE
Umbral is pleased to announce that PhyeinMed Inc. (“PhyeinMed”) is in communication with Health Canada and its ACMPR (Access to Cannabis for Medical Purposes Regulations) application has been assured that the application is progressing through the application process.
PhyeinMed’s President & CEO Debra Senger states “We have been satisfied with the progress of the application these last few months. Health Canada is finalizing the final vetting process from the information they receive from various government departments responsible for security clearances with respect to PhyeinMed’s corporate personnel and persons in charge of the application. Although the time restraints involved with the application have been lengthy, we have been able to continue with the process and maintain confidence with our partners and key persons involved in the application. We look forward to progressing to the final review stage and await the approvals necessary to receive a prepare for inspection notification from Health Canada. Once received, PhyeinMed plans to proceed with the acquisition of its facility and prepare for inspection.”
The Liberal government has emphasized their desire to legalize, regulate, and restrict access to cannabis and the move towards legalization in 2017 is likely to start with government-vetted Licensed Producers as suppliers. Estimates in the Canadian cannabis space could reach $3.0B in annual sales in 2024 with an even larger recreational market of $3.0B - $5.0B that same year, for a combined total of $6.0B - $8.0B, with further upside coming from increased tourism and international expansion or trade. Based on a recent published report 1,749,790 square meters of indoor grow space will be required to supply the Canadian recreational market or over 290 CFL football fields.PhyeinMed’s total potential new grow area with expansion could be 420,000 square feet of grow space using an additional seven acres of the land included in the current proposed property acquisition.
The management of PhyeinMed has been nurturing potential partnerships, international export and import partners, strategic alliances, accessory and ancillary relationships, revenue generating opportunities during the course of theapplication process. Short term and long term goals for creating revenue have been identified and the company plans to investigate and pursue these opportunities moving forward with Umbral as an investment partner.