MM Asset Management Confirms Control Over Common Shares of Cannimed Therapeutics Inc.

TORONTO, ONTARIO--(Marketwired - Feb. 8, 2018) - MM Asset Management Inc. ("MMAM") announced that, on behalf of MMCAP International Inc. SPC ("MMCAP"), an investment fund advised by MMAM, it has acquired control and direction over 165,500 common shares of Cannimed Therapeutics Inc. ("Cannimed") through the facilities of the Toronto Stock Exchange after a take-over bid had been commenced for the common shares of Cannimed. Currently, MMAM exercises control or direction over an aggregate of 2,068,447 common shares of Cannimed, representing approximately 8.36% of Cannimed's issued and outstanding common shares, as reported by Cannimed in its Management Discussion and Analysis dated January 29, 2018.

MMAM exercises control and direction over the common shares of Cannimed for investment purposes. Depending on market conditions and other factors, MMAM, on behalf of MMCAP, may from time to time increase or decrease its ownership, control or direction over securities of Cannimed through market transactions, private agreements or otherwise.