Luminor Medical to Acquire the Exclusive Canadian Licence for Jamaica BLU Ltd.’s Cannabis Medical and Consumer Products
May 11, 2017
Luminor Medical Technologies Inc. (TSX-V: LMT) (the
“Company” or “Luminor Medical”) (formerly Miraculins Inc.) is pleased to announce that it has
executed a letter of intent (the “LOI”) to acquire the exclusive Canadian and Jamaican licences
for all current and future cannabis commercial products (the “Acquisition”) owned by Jamaica
BLU Ltd. (“J-BLU”). J-BLU’s cannabis commercial products are based on a patent pending
process to create precise cannabis-based formulations that produce specifically-targeted effects
for various ailments and diseases including diabetes. Under the terms of the LOI, Luminor
Medical will issue 9,500,000 common shares to the shareholders of J-BLU and $200,000 for
intellectual property access. The issuance of the 9,500,000 common shares to the shareholders
of J-BLU will not trigger a change of control scenario under the rules of the TSX Venture
Exchange (the “TSXV”).
“J-BLU’s technological platform promises to create a wide variety of precise formulations that
produce specifically-targeted effects for various types of patients, including people with diabetes.
Patients and Health Care providers expect consistent high quality product produced by the best
available practices and methods and that is just what J-BLU provides,” said Christian Sauvageau,
CEO of Luminor Medical. “Although our primary interest is directed toward the J-BLU diabetes
formulation, Luminor Medical will capitalise on every formulation developed for the Canadian and
Under the terms of the LOI, Luminor Medical is required to raise a minimum of $4,000,000 in
equity (the “Equity Financing”) of which up to $2,000,000 will be used to build a production facility
and support the marketing of J-BLU’s initial cannabis-based products which support patients with
low libido – Jamaicablū and Jamaicablū PNK.
Anton Mattadeen, President and CEO of J-BLU, stated, “We are very excited by this new
partnership with Luminor Medical. The combination of their mission to improve the lives of people
with health issues like diabetes and our proprietary formulations of cannabis has the potential to
play an important role in offering a variety of highly efficacious solutions while addressing the
rapidly growing demand for cannabis-based medical products around the world. It is our collective
goal to take a leadership role in this area.”
The Acquisition is subject to a number of conditions, including but not limited to TSXV acceptance
and the Equity Financing. There can be no assurance that the Acquisition of the Cannabis
Products will be completed as proposed or at all.
About Jamaica BLU Ltd.
Jamaica BLU Ltd. is a private Ontario Corporation which has product formulation and branding
provided under a worldwide exclusive licence. Their focus is the creation of cutting edge cannabis
consumer products for both the medical and Adult-Use markets, as these markets emerge,
around the world. The first group of Adult-Use consumer products leverages the well-known
aphrodisiac qualities of cannabis to address both male and female sexual dysfunction by
providing highly effective sexual enhancement formulations for both men and women, and will
target the 26 million adults in Canada who may have a desire to improve their sex lives after
Adult-Use cannabis is approved in Canada as expected in mid 2018.
About Luminor Medical Technologies
Luminor Medical Technologies is a medical diagnostic company focused on acquiring, developing
and commercializing medical technologies for unmet clinical needs. The Company’s Scout
device has been regulatory cleared in certain markets both as a clinical tool to assist in the
identification of both prediabetes and type 2 diabetes, and is the first non-invasive testing system
designed to provide a highly sensitive and convenient method for measuring prediabetes/type 2
diabetes related biomarkers in the skin, the accumulation of which are accelerated by abnormal
blood sugar levels and oxidative stress. Unlike current testing methods, a Scout DS®
no blood draw, no fasting, and no waiting for a lab result. The product has been used and
validated in thousands of patients around the world.
For more information, please contact:
President & CEO
Luminor Medical Technologies Inc.
Ph: (438) 889-3585
LMT Feb 2017