Windfire Capital Evaluates Agriculture Sector
March 21 2014 - 8:00AM
Marketwired
Windfire Capital Evaluates Agriculture Sector
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 21, 2014) -
Windfire Capital Corp. (TSX-VENTURE:WIF) ("Windfire"), recently
closed a private placement and management is proactive in searching
for opportunities that make good business sense and create
potential value for shareholders. On this basis the company is
currently seeking to cultivate business opportunities in the
Medical Marijuana Industry. Health Canada has announced new
regulations pertaining to the Medical Marijuana Industry and these
changes may result in significant growth opportunities for those
companies who can obtain a license under the new marijuana for
medical purposes regulations (MMPR).
Health Canada's website explains that: "The marijuana medical
access program ends on March 31, 2014. This is also the date that
all previous authorizations to possess, personal-use production
licenses and designated-person production licenses expire. As of
April 1, 2014, the only legal access to marijuana for medical
purposes will be through licensed producers under the marijuana for
medical purposes regulations these new regulation are coming into
effect on March 31, 2014.
"Previously, licensed individuals had been allowed to grow
medical marijuana in their homes. The new regulatory changes will
allow only licensed producers to grow medical marijuana on a
commercial scale. Health Canada estimates that the market could be
worth as much as $1.3-billion by 2024. Analysts and industry
experts put these numbers to be closer to $2.6-billion by 2016.
"A steadily increasing percentage of the medical community
believes that medical marijuana, and more specifically
cannabinoids, has the potential to help patients who are suffering
from a variety of ailments and illnesses. In addition, industrial
hemp is an emerging industry in Canada, and hemp is one of the
strongest natural fibres known to man. Hemp has a wide range of
applications including medicine. Both sectors show the potential
for exponential growth."
In the United States, Medical Marijuana is legal in 20 states,
including Washington. Furthermore, Colorado and Washington have
legalized recreational use, with additional states contemplating
legalization.
Recent analysis on the American marijuana marketplace by ArcView
Angel Investors forecast a 64-per-cent surge in the legal U.S.
cannabis market to $2.34-billion in 2014. It also estimates that
the five-year national market could grow to $10.2-billion amid
rising demand and potentially new state markets.
While the company has been in discussions, no agreement in
principal has been entered into with any parties and there is no
assurance that the company will acquire any agriculture related
assets, directly or indirectly. In the interim, management
continues to evaluate all potential transactions with a view to
creating value for shareholders.
The Company would also like to report the grant of 1 million
incentive stock options to certain directors, officers, employees
and consultants of the Company at a price of $0.135 per common
share, exercisable for a 5 year period.
Windfire Capital Corp.
Clive Massey, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains forward-looking statements. The
Company has provided the forward-looking statements in reliance on
assumptions that it believes are reasonable at this time. The
reader is cautioned that the assumptions used in the preparation of
the forward-looking statements may prove to be incorrect. All such
forward-looking statements involve substantial known and unknown
risks and uncertainties, certain of which are beyond the Company's
control. Such risks and uncertainties include, without limitation,
delays resulting from or inability to obtain required regulatory
approval. The actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurances can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do, what
benefits, including the amount of proceeds, the Company will derive
therefrom. Readers are cautioned that the foregoing list of factors
is not exhaustive.
Windfire Capital Corp.Investor
Relations604-669-2191info@windfirecapital.comwww.windfirecapital.com
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