PharmaCan Provides Update on the Closing of Sale of Shares of Peace Naturals

TORONTO, ON--(Marketwired - January 13, 2016) - PharmaCan Capital Corp. (TSX VENTURE: MJN)

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

PharmaCan Capital Corp. (TSX VENTURE: MJN) ("PharmaCan" or the "Company") announces that it has been advised that the proposed sale of the Barnes Family Trust's ("BFT") shares in The Peace Naturals Project Inc. ("PNP") has not been completed and that the offer to purchase these shares has been terminated (see press releases dated October 9, 2015, October 15, 2015, November 6, 2015, November 27, 2015 and December 18, 2015).

PharmaCan owns 662,992 shares of PNP. Under the PNP Unanimous Shareholders Agreement PharmaCan possesses a right of first refusal (ROFR) on the sale of the BFT's shares in Peace Naturals, which remains in full force and effect.

About PharmaCan Capital Corp.

PharmaCan is a company in the business of investing in companies either licensed, or actively seeking a license, to produce medical marihuana pursuant to Canada's MMPR. PharmaCan has a diversified portfolio of investments including investments in 5 of the 27 companies licensed by Health Canada to produce medical marihuana.

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.