MPX Postpones Filing Date of 2018 Annual Statements

Company to reschedule conference call with shareholders upon finalization of financial results

TORONTO, July 30, 2018 (GLOBE NEWSWIRE) — MPX Bioceutical Corporation (“MPX” or the “Company”) (CSE: MPX; OTC: MPXEF) today announced the Company will postpone the filing of its fiscal 2018 financial statements as a result of accounting delays caused by the numerous acquisitions the Company closed during the fiscal year. Specifically, the Company and its auditors are still working to finalize reporting of the purchase price allocations in respect of those acquisitions. As a result of a change to the Company’s expected fiscal year 2018 reporting date, the Earnings press release, as well as the Earnings call previously scheduled for Tuesday, July 31st, will also be rescheduled.

As soon as possible, management will issue a press release announcing a revised date for the fiscal year ended March 31, 2018 conference call and Earnings press release.

About MPX Bioceutical Corporation

MPX, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area. With the acquisition of The Holistic Center, MPX added another operating medical cannabis enterprise to its footprint in Arizona.

GreenMart of Nevada NLV, LLC (“GreenMart NV”) is an award winning licensed cultivation, production and wholesale business, licensed for both the medical and “adult use” sectors in Las Vegas, Nevada, and is already selling wholesale into the Nevada medical cannabis market. GreenMart NV has also optioned suitable locations and intends to enter the higher-margin retail arena by applying for at least two dispensary licenses in the Las Vegas market which will operate under the “Health for Life” brand.

In Massachusetts, MPX is building out and will operate a cultivation and production facility as well as up to three dispensaries and manages three full service dispensaries and one producer in Maryland.

In Canada, MPX has acquired Canveda, which has received its cultivation license from Health Canada, will operate a cultivation and production facility in Peterborough, Ontario. The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.

Original press release

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Published by NCV Newswire
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