Both Parties Decided To Amicably Dissolve The Transaction
PALM BEACH, Fla., June 21, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Medican Enterprises Inc. (OTC: MDCN) (the ‘Company”) is pleased to announce that an acquisition and merger agreement it had previously announced on April 4, 2019, with a private company, Chuck’s Vintage Inc (“Chuck’s”), was today mutually and amicably rescinded by the parties. The parties came to agree that Chuck’s remaining a private venture was a better fit for its business model and that MDCN could better utilize the time and assets it would have had to devote to Chuck’s, in a more beneficial and efficient manner for the Company.
The rescission effectively puts both parties back in the positions they were in before the agreement was signed.
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medican Enterprises Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Medican Enterprises, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.