Prominex Provides Further Update on Its Activities in Medical Marijuana and Hemp Industries

VANCOUVER, BC--(Marketwired - November 19, 2014) - Prominex Resource Corp. (the "Company" or "Prominex") (TSX VENTURE: PXR) announced that it is re-issuing its news release of November 18^th, 2014 to provided further disclosure regarding the Risks and Uncertainties associated with the medical marijuana and hemp industries. The November 18, 2014 news release was issued as a result of a review by the British Columbia Securities Commission, to clarify the disclosure of our activities in the medical marijuana and hemp industries. 

Activities of the Company

On March 25, 2014, the Company announced its intention to evaluate projects with these industries. (See new releases March 25 and May 30, 2014 at www.sedar.com and www.prominex.ca.) On March 31, 2014, Prominex incorporated a wholly owned subsidiary under the BC Company Act called Cannabinoid Capital Corporation (Cannabinoid). Cannabinoid was incorporated to acquire a project of merit; if, as, or when identified during our evaluation of this industry. To date, Prominex's capital expenditures have been under $5,000 for the incorporation of Cannabinoid and associated legal fees. The registered office of Cannabinoid is 1001, 1010 Howe Street Vancouver, BC, V6Z 1P5.

Current Status

1. the Company clarifies, that it is not a licensed producer, and it has no intention to file an application with Health Canada to become a licensed producer under the Marijuana for Medical Purposes Regulations;
2. the Company continues to be in the initial evaluation phase only, and has not entered into any preliminary or definitive form of agreement that would result in the Company entering the medical marijuana or hemp industries, nor can there be any assurance that such an agreement will be reached in the future;
3. any transaction to acquire a medical marijuana or hemp business will be subject to the approval of the board of directors of the Company, its shareholders and the TSX Venture Exchange, none of which has occurred as of the present date;
4. the Company will provide further updates as required.

RISKS AND UNCERTAINTIES OF THE MEDICAL MARIJUANA AND HEMP INDUSTRIES

The Company cautions investors to carefully consider the risks and uncertainties associated with these industries during an evaluation of the Company or any other company that it may invest in or acquire. 

Reliance on Licence

The licensing requirements mandated by Health Canada are stringent and must be complied with before any licence is granted by Health Canada under the MMPR, including: