Vancouver, British Columbia / ACCESSWIRE / June 4 2014 / Shamrock Enterprises Inc. (CSE: SRS; the “Company”) Further to the Company’s news release dated May 28, 2014 the Company is pleased to provide the following update.
Dr. Paul Hornby was appointed as an Advisor in order to assist the Company with the evaluation of agricultural, nutraceutical and medical marijuana opportunities. Dr. Hornby is currently researching a line of topically (skin) applied cannabis products, designed for persons with chronic or inflammatory pain. The active cannabis molecules tetrahydrocannabinol (THC) and cannabidiol (CBD), both readily penetrate the skin and act locally to provide relief from a multitude of ailments including: arthritis, muscle stiffness, back pain, herpes, hemorrhoids, dermatitis (including atopic) and psoriasis.
Dr. Hornby’s knowledge and innovative approach to cannabis medicine, strain selection and THC/CBD ratios will allow creation of products surpassing any available today in their specific effectiveness. Dr. Hornby is currently under application with Health Canada’s Controlled Drugs and Substances Office (license pending), that will allow access to required raw materials, staff and equipment to develop topical products.
“By applying cannabis to the skin a person does not experience the ‘high’ that is associated with smoking or eating it”, says Dr. Hornby, “but indeed, it will bring about excellent localized pain relief with no unwanted side effects”.
Gord Osinchuk, the Company’s President stated, “We are excited about having this expertise on our team and the beginning of a new horizon in product development.”
The Company also reports that pursuant to a third tranche of a private placement completed on May 26, 2014, Brian Cameron McIntosh, an individual of Cobourg, Ontario, has acquired 1,600,000 Units, consisting of common shares and share purchase warrants, at $0.05 per Unit. The warrants are exercisable at $0.10 per Unit until May 26, 2015 and at $0.14 per Unit until May 26, 2016. Mr. McIntosh now has ownership and control over 2,535,000 common shares and 1,600,000 common share purchase warrants of the Company, representing 15.85% of the Company’s issued and outstanding shares (23.5% assuming exercise of all of the warrants held by Mr. McIntosh).
Mr. McIntosh advises that he has acquired securities of the Company for investment purposes and that he has no present intention to acquire additional securities of the Company through the market, privately or otherwise, but may acquire additional common shares in the future.
On behalf of the Board,
For further information, please contact:
Shamrock Enterprises Inc.
Gordon R. Osinchuk, President & CEO
Phone: (604) 722-1877
Neither the Canadian Securities Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
SOURCE: Shamrock Enterprises Inc.