LAS VEGAS--(BUSINESS WIRE)--Medican Enterprises Inc. (OTCBB:MDCN) (“Medican” or “the Company”), a merchant bank and bio-pharmaceutical company in the emerging global marijuana industry, has signed a letter of intent to acquire TWYNS, a company that provides branding services for enterprises in the Cannabidiol (CBD) business. The transaction is valued at approximately $1,000,000, all in stock. TWYNS should add approximately $400,000 to Medican’s revenue annually, and Medican is obligated to fund the operations of TWYNS at $12,000 per month.
“The acquisition of TWYNS would be a strategic move by Medican, linking as it would the CBD market with the THC market while maintaining an arm’s length distance between them.”
Ken Williams, CEO of Medican Enterprises, stated, “The acquisition of TWYNS would be a strategic move by Medican, linking as it would the CBD market with the THC market while maintaining an arm’s length distance between them.”
“In both cases, branding is going to be important because we believe that the cannabis will be a cottage industry for the foreseeable future. Each jurisdiction where it is legal will be demanding fees and licenses. TWYNS will provide local growers, product manufacturers and distributors with a reliable ‘seal of approval’ that ensures quality and provides the consumer with a reliable benchmark. The model is Coca-Cola’s very successful bottling distributor arrangement.”
CBD is a cannabinoid devoid of the psychoactive effect made from the hemp plant, and not from marijuana.
TWYNS will offer trademarks and copyrights on commercial art work, association with the Egbert Ecclestein character, and the formula E = marijuana X cannabidiol squared, or E=mc2, in addition to the mark TWYNS. In exchange, it will receive royalties from CBD sales around the world starting with Hemp Health Inc. of Carlsbad, California, which imports CBD and produces a wide variety of health products from it including tinctures, capsules and vapes.
TWYNS will also provide packaging to CBD and THC dispensaries offering windows for both -- the empty window in the copyrighted trademarked box can be filled with their own or the customer’s choice of THC. TWYNS will receive a fee to rent out the window space, and there is also the prospect of selling an empty bottle to fill the window with a THC of the customer’s choice.
TWYNS will also be free to license growers of cannabis anywhere and for the growers it will be an opportunity to gain recognition over and above the local promotion they would otherwise be limited to. Salves, lotions, edibles, anything related to the hemp or cannabis market can be E-MC2 approved, of course in exchange for a royalty or fee.
Jay Gordon of TWYNS said, “We are changing the landscape of the cannabis market. Even though CBD is known to have or is being studied as helpful for many ailments and conditions, it’s commonly been associated with marijuana since they are sister plants. While marijuana is gaining widespread acceptance it is subject to many restrictions. Conversely, CBD is not and can be sold everywhere. The best CBD is made from hemp, has little to no THC and is not subject to the myriad or restrictions that surround THC. Most of the states that have approved medical marijuana are doing so because of the therapeutic value of the CBD.”
About Medican Enterprises, Inc.
Medican Enterprises is a bio-pharmaceutical company focused on pursuing business opportunities in the growing medical and recreational marijuana sector. Through its subsidiaries, Medican is seeking to invest in our businesses associated with the growing, marketing, research and development, training, distribution and retail sale of medical and recreational marijuana, both in the United States and Canada. For more information visit: www.medicaninc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release and statements of representatives of Medican Enterprises, Inc. (the “Company”) related thereto includes forward-looking statements within the meaning of the U.S. federal securities laws. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control), which could cause actual results to differ from the forward looking statements. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management but are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, the results of the Company’s efforts to acquire and integrate Future Harvest as described herein) may differ from those set forth in the forward-looking statements. Except as required by applicable law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contacts
Medican Enterprises Inc.
Ken Williams, 800-416-8802
CEO
investors@medicaninc.com
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