MedX Holdings, Inc. (MEDH) Enters the Legalized Marijuana Industry in California through Licensing and Lease Agreement
April 26 2018 - 8:00AM
CHEYENNE, Wyo., April 26, 2018 (GLOBE NEWSWIRE)
-- MedX Holdings, Inc. (OTC Pink:MEDH) has completed the licensing
and lease agreements to a Humboldt County, CA marijuana grow
operation. In order to remain compliant with federal
restrictions on cannabis, MedX has purchased the rights to a
genetic strain of cannabis as a propriety technology from Viridian
Resources. MedX Holdings is licensing the right to use this
proprietary strain exclusively to the Humboldt grower. MedX will in
turn receive an 85% royalty on every pound produced of our
proprietary strain of cannabis. All of the managerial duties
and farming applications are controlled by the lease holder, who
has been a Master Grower for 22 years. The Master Grower will
be using the proprietary strain on 250 plants, which can
conservatively yield 2 to 5 lbs. of product per plant in a single
season, and can be done in phases for scheduled and controlled
harvesting. The Grower’s yielded product can then be sold to
the distribution centers and dispensaries at an average weighted
price of $1,350.00 to $2,000.00 USD per pound. At the Master
Grower’s request for financing, MedX Holdings has allocated cash
and capital from other businesses to assist in the cost of
operations, and we have estimated that the Grower’s financing will
be roughly $75,000.00 to $100,000.00 USD for the
season.
Viridian Resources has proven themselves as a
valuable consultant to MedX Holdings, Inc. Through Viridian
Resources, several projects in real estate, marijuana grow
operations, and marketable ancillary products have been brought to
our attention. The Company feels that these opportunities
would have gone unseen without the assistance of Viridian
Resources. MedX Holdings, Inc. has entered into discussions
with the managing partners to acquire Viridian Resources as a
wholly owned subsidiary, which would include all proprietary
designs, products, and network connections in the legalized
marijuana industry.
“This is yet another stepping stone to bringing
real assets and revenues into MedX Holdings. These types of
prospects are rare, and the revenue potentials exceed 1,100% return
on investment,” Mark Miller, CEO exclaimed. “Without Viridian
and our trip to California, none of this would have been possible,
and we think that their business model would work well under the
MedX Holdings umbrella.”
Follow us on Twitter @MedX_Holdings
ABOUT: MedX Holdings
MedX Holdings acquires businesses throughout the United States
that have operational track records, including the expansion of its
current operations in residential/commercial construction and real
estate.
Safe-Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the Exchange Act), including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the company, its
directors or its officers with respect to, among other things: (i)
the company's financing plans; (ii) trends affecting the company's
financial condition or results of operations; (iii) the company's
growth strategy and operating strategy; and (iv) the declaration
and payment of dividends. The words "may," "would," "will,"
"expect," "estimate," "anticipate," "believe," "intend" and similar
expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors including the risk disclosed in the
company's Forms 10-K and 10-Q filed with the SEC.
For further information contact:
Mark Miller
(612) 615-9334
mark@medxholdings.co
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