PALM BEACH, Fla., Nov. 20, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Medican Enterprises Inc. (MDCN:OTC) is pleased to provide a corporate update. The company has acquired stakes in various businesses over the last two years of which some are producing revenues. All, however, have strong competitive advantages. It is management’s desire to provide capital to these businesses/assets to help them exponentially grow as we also develop our own unique strain that will bind most of these companies together.
The company has recently seen an increase in volume from convertible note holders exercising their conversion privileges and receiving stock. We believe that we can absorb these shares based on the assets of the company. However, with the assistance of the mergers and acquisitions consultant, we are exploring other contingencies such as the merger/sale to other entities where all shareholders will be compensated.
Medican Enterprises Inc. (MDCN:OTC) has signed agreements with respect to hemp most recently with Green Gold Acquisitions, Inc. for a joint venture utilizing land in Alamosa County, Colorado. In addition, we are studying the feasibility of using a portion of our land in South Haven, Michigan to grow hemp as the House and Senate each passed their own versions of the 2018 Farm Bill. This means the Hemp Farming Act will permanently legalize hemp and derived products like cannabidiol (CBD) of which Medican will be a direct beneficiary.
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With respect to being current with OTC Markets Group Inc., we are in discussions with various investors to provide the capital now that our disclosure statements are almost complete. We are hoping to get this completed this month.
The company has no intention of doing a reverse split in the foreseeable future.
Updates will be forthcoming
About Medican Enterprises, Inc.
Our Mission is to lead production, distribution, research & development. Medican seeks to become the world’s largest wholesale supplier of pharmaceutical grade cannabis to the medical marijuana industry. A leader in innovation, quality and variety. Leadership Medican delivers strong operational experience and a significant focus on research and development. Medican is uniquely positioned to capitalize on the market opportunity. Quality and Efficiency Medican produces effective Cannabis strains with standardized potency and verified purity. The company has the highest standards of safety and inspection in all areas of quality control, cultivation, and distribution. A combination of in house Research & Development team's, third party testing which ensures the potency of active ingredients in all products and is free of microbial chemical contaminants. Stringent quality control testing provides lot numbers for precise identification of all products.
For More Information, Ken Williams, CEO | Medican Enterprises, Inc.
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.