(TheNewswire)
Vancouver, B.C., / TheNewswire / July 13, 2017 - UMBRAL ENERGY CORP. (CSE: UMB) ("Umbral or Company") and the management of PhyeinMed Inc. ("PhyeinMed") a late stage applicant under the ACMP (Access to Cannabis for Medical Purposes Regulations) are pleased to announce it has paid the second instalment of $75,000 on its targeted acquisition in Falkland, BC completing subject removals. This payment is in addition to the original $25,000 it paid on May 10, 2017 when it completed the Letter of Intent to purchase the property, leaving a balance to be paid of $895,000 on the original total purchase price. The full amount remaining is set to be completed on or before September 29, 2017.
The purpose of this acquisition is to allow PhyeinMed Inc., to complete the planned build-out as it continues to move towards achieving its goal of becoming a licensed producer. The property includes 13 acres of land, which includes a steel framed building representing 15,500 sq. ft. of grow area, and a planned expansion of up to 420,000 sq. ft.
Jag Bal, President and CEO of Umbral, stated "As Umbral makes this payment, it marks another stage for PhyeinMed to continue to move forward on its path to being a licensed grower in Canada. The whole team is working hard to ensure we can commence our build-out quickly once we take possession of the property".
About Umbral Energy Corp.
The Company is currently listed as a junior resource issuer having mineral exploration projects. The Company is considering other activities to increase shareholder value, including non-resource projects.
The Company has a mineral exploration project in Quebec. In addition the Company has an interest in PhyeinMed, who has applied for a license from Health Canada to legally grow and sell medical marijuana.
ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.
"Jag Bal"
Jagdip Bal
President and CEO
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other
factors that may cause actual events to differ materially from current expectation. Important factors - including the availability
of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as
of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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