MPX International Announces Insider Open-Market Share Purchases
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TORONTO, ON / ACCESSWIRE / October 30, 2019 / MPX International Corporation ("MPX International", "MPXI" or the "Company") (CSE:MPXI)(OTCPINK:MPXOF) today announced that W. Scott Boyes, Chairman, CEO and President of MPXI, and Randall Stafford, a Director of MPXI, have, during the month of October 2019, executed open-market purchases of an aggregate of 1,271,000 common shares of MPXI (the "MPXI Shares") for the aggregate purchase price of CDN$597,094.
Mr. Boyes purchased 800,000 MPXI Shares with an average cost of CDN$0.482 per MPXI Share for a total purchase amount of CDN$385,788. Mr. Stafford has acquired 471,150 MPXI Shares at an average of CDN$0.448 per MPXI Share for a total purchase price of CDN$211,306.
"We continue to be very excited about the rapidly emerging global medical cannabis marketplace," commented Mr. Boyes. "With over 35 countries having now legalized medical cannabis, the industry is entering a phase of rapid international expansion and, as MPXI continues to develop its operations in the UK, Malta, Switzerland, Australia, South Africa, Canada and elsewhere, I am ever-more confident that our company is well-positioned for near-term growth and profitability and for the creation of long-term value for its shareholders."
About MPX International Corporation
MPX International Corporation is focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, MPX International's objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in MPX International's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although MPX International believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, MPX International disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE: MPX International Corporation
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Released October 30, 2019