Medican Finalizes Terms for Majority Control of IHMML
Ryan Allway
July 1st, 2014
Top News
Medican Enterprises Inc. (OTC: MDCN), a bio-pharmaceutical company in the emerging global medical marijuana industry, recently announced that it was in the final stages of acquiring a controlling 51% stake in International Herbs Medical Marijuana Ltd. instead of the previously agreed upon 50% stake. The move will provide management with greater flexibility moving forward.
Earlier this month, IHMML received conditional zoning approval from the Corporation of Delta (or City of Delta), which is a key precursor to producing and distributing medical marijuana under Health Canada’s MMPR program. The City of Delta has introduced stringent zoning regulations prohibiting medical marijuana facilities in all zones, but agreed to review projects on a case-by-case basis.
Read the entire press release discussing the new agreement here:
Medican Enterprises, Inc. (MDCN) a bio-pharmaceutical company in the emerging global medical marijuana industry is pleased to announce it is currently negotiating the purchase of 51% of International Herbs Medical Marijuana Ltd (“IHMML”). Medican previously announced that they signed an agreement to obtain 50% of IHMML, but for consolidation purposes and increasing role undertaken by the IHMML management team, we are finalizing terms for a 51% acquisition. This will give Medican a controlling interest in IHMML and fits in well with our long-term vision to become a leader in the medical marijuana space.
Medican CEO Ken Williams stated, “the IHMML management team has taken an increasing role within the company and we are pleased to announce that Medican is finalizing discussions to obtain 51%.”
About Medican Enterprises Inc.
Medican Enterprises is a bio-pharmaceutical company focused on developing, distributing and marketing pharmaceutical grade cannabis to the emerging global medical marijuana market. It’s wholly owned subsidiary Medican Systems Inc. is an industry leader in the design, construction and operation of Medical Marijuana and Cultivation Centers across Canada and the United States. Traded on the OTCBB, Medican drives shareholder value through its scalable business model and commitment to scientific research, operational excellence and regulatory compliance. For more information visit: www.medicaninc.com.
Forward-Looking and Cautionary Statements
Certain statements contained herein contain “forward-looking statements” within the meaning of Section 27A of Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medican Enterprises Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Medican Enterprises Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
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