GCAN Greater Cannabis Company Inc (PK)

GammaCan International, Inc. (�GammaCan� or "the Company�) (OTCBB: GCAN), a developer of novel immunotherapies to treat cancer, announced today the completion of a $6.5 million private placement with a group of investors lead by T.R. Winston & Company, LLC. The Company issued 16,250,000 common shares at a price of $0.40 per share, and warrants equal to the amount of shares issued, exercisable at $0.48. Details of the transaction will be described in a Form 8-K to be filed with the Securities and Exchange Commission. �We are most pleased with the confidence and support shown in the Company by our new and existing investors,� stated Steven Katz, Chairman of the Board. �These funds will enable us to continue the development of VitiGam� for the treatment of Stage III and Stage IV melanoma,� said Patrick Schnegelsberg, CEO. �T.R. Winston is a solid partner and we are looking forward to a valuable long-term relationship,� added Schnegelsberg. About GammaCan GammaCan develops innovative immunotherapy and related approaches to treat cancer. GammaCan's platform technology is based on IgGs, a safe, relatively non-toxic human plasma-based product used to treat a variety of immune deficiencies and autoimmune diseases. In cancer, IgG-based therapies work by strengthening the patient's immune system. Many experts currently view immunotherapy as a future alternative to chemotherapy. For more information about GammaCan, visit www.GammaCan.com. About VitiGam� VitiGam� is a first-in-class IgG-based anti-cancer immunotherapy being developed for the treatment of Stage III and Stage IV melanoma. GammaCan is planning to submit its Investigational New Drug Application (IND) for VitiGam� to the FDA in the near future. The Company is expecting to commence human clinical trials shortly thereafter. VitiGam� is an IgG-based product manufactured from the plasma of donors with Vitiligo, a benign skin condition affecting up to 2% of the general population. Studies have shown that this "enriched" IgG formulation contains potent anti-melanoma activity. Based on these studies, GammaCan expects VitiGam� to provide both, specific anti-melanoma activity (directed against melanoma cells), and non-specific anti-cancer activity. Safe Harbor Statement: Statements in this document that are not purely historical are forward-looking statements. Forward-looking statements in this release include statements regarding: the commercialization of anti-cancer immunotherapies and the Company�s efforts to develop therapies to boost the immune systems of cancer patients by the use of IgG-based therapy. Actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the planned development of the technology, the inability to hire appropriate staff to develop the technology, unforeseen technical difficulties in developing the technology, the inability to obtain regulatory approval for human use, competitors' therapies proving to be more effective, cheaper or otherwise preferable for consumers, the inability to market the product we produce, all of which could, among other things, delay or prevent product release, as well as other factors expressed from time to time in GammaCan�s periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with GammaCan's periodic filings with the SEC, which are incorporated herein by reference. The forward-looking statements contained herein are made only as of the date of this press release, and GammaCan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.