PreveCeutical Medical Inc (PRVCF)

[Dust2332]

PreveCeutical Announces Default Judgment Against
JCN Capital Corp.

April 8th, 2019, Vancouver, British Columbia: PreveCeutical Medical Inc. (“PreveCeutical”) (CSE: PREV, OTCQB: PRVCF, FSE: 18H), announces that it has obtained a default judgement against JCN Capital Corp. (“JCN”) in connection with a Supreme Court of British Columbia action (the “Action”).  The Action was brought by PreveCeutical in December 2018, against a group of defendants (the “Defendants”) for fraudulent misrepresentation, breach of contract, conspiracy, unjust enrichment and breach of duty of honest performance in connection with services that the Defendants failed to provide to PreveCeutical, and various consulting agreements and subscription agreements entered into between PreveCeutical and certain of the Defendants (see news release dated January 7, 2019).

“We are pleased to have received this third default judgement as it demonstrates that PreveCeutical is actively pursuing this Action,” said PreveCeutical’s Chairman and CEO, Stephen Van Deventer.

A notice of civil claim was filed on December 17, 2018 by the Company, as plaintiff, in the Action against the Defendants, consisting of Aly Babu Mawji, Justin Liu, BridgeMark Financial Corp., Rockshore Advisors Ltd. (formerly known as, Cam Paddock Enterprises Inc.), Detona Capital Corp., Escher Invest SA, Essos Corporate Services Inc., Jarman Capital Inc., JCN Capital Corp., Kendl Capital Limited, Lukor Capital, Northwest Marketing and Management Inc., Sway Capital Corp. and Tryton Financial Corp.

The amount of damages and costs to be awarded to the Company and against JCN remain to be assessed by the court.  The Company is continuing to pursue its claims against the other Defendants in the Action.