Black Panther Announces Pursuit of New Business Opportunities
News Release No: 15-06
Trading symbols: TSX-V: BPC
Frankfurt: BP4
Black Panther Announces Pursuit of New Business Opportunities
West Vancouver, British Columbia – June 9, 2015 – Black Panther Mining Corp. (the “Company” or “Black Panther”) announces that the Company intends to pursue new business opportunities in the area of pharmaceutical and neutraceutical manufacturing and distribution.
The Company is currently working on its new business plan, but the Company anticipates developing into a multi-faceted generic drug manufacturing and distribution company with the following key business lines:
1. Manufacturing generic drugs in Canada for the Canadian market
2. Distributing Canadian manufactured neutraceuticals internationally
3. Applying Canadian Good Manufacturing Practices to generic drug manufacturing internationally.
The Company will be applying to Health Canada to get licensed under Canadian Good Manufacturing Practices (“GMP”). Once the Company has this GMP licensing it will be able to commence manufacturing generic pharmaceuticals. In order to complete this application the Company must first establish a local manufacturing facility and acquire the necessary manufacturing equipment. Once the facility has been established and the equipment has been purchased, the Company can complete its application with Health Canada and it is expected that the process of pre-inspection and inspection will take approximately 9 months.
The Company will be applying to the TSX Venture Exchange (the “Exchange”) to be voluntarily transferred to the NEX board of the Exchange where it will continue to grow and develop the Company’s new business concept. The Company also anticipates divesting of its joint venture interest in the “Seagull Property” at a future date. The Seagull Property is a “PGE” (platinum group elements) exploration property located near Thunder Bay, Ontario and is currently under option to Minfocus Exploration Corp. of Toronto, Ontario.
In order to assist the Company in its pursuit of this new business opportunity, the Company has appointed Dr. Mack Payravi, Pharm D, MBA, MSc Industrial Pharmacy, as the Company’s new President and as a Director of the Company. Dr. Payravi is a registered pharmacist and holds an MBA from Simon Fraser University. Dr. Payravi has worked for a number of Canadian pharmacies, including Shoppers Drug Mart and Rexall, where he most recently held the position of Pharmacy Director for BC responsible for operations of all stores in British Columbia. Dr. Payravi previously worked in Iran where he was head of production for an Iranian drug manufacturing company. Mr. Douglas Mason, the Company’s former President will remain on the Board of Directors of the Company as Chairman and Chief Executive Officer.
Furthermore, the Company announces that it will be commencing the process to change the name of the Company to “Canadian International Pharma Corp.” to more properly reflect the Company’s new business focus, subject to Exchange and regulatory approvals.
In connection with the Company’s new business focus and related business development needs, the Company intends to proceed with a non-brokered private placement, the terms of which will be announced in the near future.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922- 2030.
BLACK PANTHER MINING CORP.
“Douglas L. Mason”
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Douglas L. Mason, Chairman
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.