Medican Enterprises Signs Management Services Agreement Print Alert Medican Enterprises Inc (OTCBB:MDCN) Intraday Stock Chart Today : Tuesday 18 March 2014 Click Here for more Medican Enterprises Inc Charts. Strategic Deal to Drive Rapid Expansion of Medical Marijuana Research and Cultivation Centers Medican Enterprises Inc. (OTCBB:MDCN) (“Medican,” “the Company”), is pleased to announce the company and its subsidiaries Medican Systems Inc. and Medican (CanaLeaf) Systems Inc. have entered into an Amended Management Service Agreement with International Herbs Ltd (“IHL”) and LFG Advisory & Accounting Ltd. (“LFG”) or the Consultants, effective March 13, 2014. Under the terms of the agreement IHL and LFG agree to promote and develop the business of Medican and assist the company with obtaining licensed commercial grower status from Health Canada. Together, IHL and LFG will provide operational oversight of Medican’s Medical Marijuana Cultivation and Research Centers as well as the business infrastructure necessary for the legal distribution of Medican products. International Herbs Ltd (IHL) is a world leader in the fresh herbs and specialty produce industry, and has set the highest standard Quality Assurance programs in its sector. IHL is Health Canada’s gold standard partner, and has assisted numerous organizations meet their strategic goals with government. Lions Financial Group is an independent corporate finance and accounting advisory firm, based in Vancouver, British Columbia. Lead by Sam Perera and Dave Fong, LFG provides financial advice, accounting support and corporate finance expertise. “The Management Services Agreement is a key step in establishing Medican as a leader in the medical marijuana industry,” said Ken Williams, CEO of Medican Enterprises. “Together with International Herbs and Lions Financial Group we are working on financing our first facility in Canada and are poised to capitalize on this emerging market to become one of the largest commercial licensed producers of Medical Marijuana.” International Herbs will work closely with Medican Enterprises management to design, build and develop a medical marijuana cultivation facility and to produce and distribute medicinal cannabis on their behalf. IHL will prepare and oversee the facility’s final site visit and inspection by government and regulatory personnel, in order to gain final licensing approval. In addition IHL will provide operational oversight of the Company’s cultivation facility and will actively hire employees, develop processes for profitability, and ensure compliance with applicable laws. “Health Canada is preparing for a major shift to licensed commercial growers. The recent federal changes to the Marijuana Medical Access Program have opened the cultivation industry to free enterprise,” said Rick Brar. “This is the first of its kind and the first time Canadian companies can produce medical marijuana. My role, and the role of IHL, is to help ensure Medican’s first cultivation facility gains licensing approval quickly and to provide the best in class safety, quality and operational oversight.” 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: medicaninc. 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 sec.gov. Medican Enterprises Inc. Ken Williams, 1-800-416-8802 CEO investors@medicaninc
Posted on: Tue, 18 Mar 2014 12:41:40 +0000
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