Afri-Can Enters Into Memorandum Of Understanding With GFR Pharma Inc.

VANCOUVER, British Columbia, February 14, 2018 /PRNewswire/ --

Orofino Minerals Inc. ("Orofino") (NEX: ORR.H) is pleased to announce that Afri-Can Cannabis Holdings Ltd. has entered into a memorandum of understanding with GFR Pharma Inc. to form a joint venture company to distribute and sell, when legal to do so, Afri-Can cannabis oil products and cannabis extracted ingredients in Canada and the United States. The MOU outlines that the parties will work together to establish an equal joint venture company, with Afri-Can providing products including cannabis oils and ingredients, and GFR Pharma providing services including importation, storage and selling of the cannabis oil products and ingredients in the various markets when legal to do so. GFR Pharma and Afri-can are working together to formalize the terms of the joint venture in a binding agreement, subject to appropriate and necessary approvals, that will replace the MOU.

GFR Pharma is British Columbia based nutraceutical manufacturing business that has been operating since 1998, and has the expertise to manage, process and sell various oil products. Utilizing its extensive nutraceutical based and quality controlled manufacturing expertise, GFR Pharma is in the process of applying to Health Canada for a license with regard to the handling of cannabis products.

Orofino previously announced (news release of February 5, 2018) that it had entered into a letter of intent to acquire 100% of Afri-Can, a private BC company that indirectly holds a 70% interest to a license to produce, process and export cannabis products from the Democratic Republic of the Congo. Afri-Can, and its affiliated subsidiaries, plan to operate commercial cannabis farms, extract cannabis oils and ingredients and export extracted cannabis oils and ingredients from production sites located in Africa.

ON BEHALF OF THE BOARD OF DIRECTORS 

OROFINO MINERALS INC. 

John Anderson

Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Forward-looking Statements  

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word, "may", "will", "proposes", "expects", "anticipates" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: completion of the Transaction, receipt of required shareholder and regulatory approvals, strategic plans and future operations, results of exploration, capital expenditures and objectives. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. 

For further information contact:
John Anderson, CEO
Telephone: +1-604-218-7400
Email: [email protected]

SOURCE Orofino Minerals Inc.