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| MEDH Stays Safe While Entering Legalized Marijuana Industry in California through Licensing and Lease Agreement. Eyes Another Acquisition Target. |
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 Hot Stock to Watch |
Company: MedX Holdings, Inc. (Pink Sheets: MEDH)
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Last:
Price: 0.093
Change (%): + 0.003 (3.33)
Volume: 249,611 |
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MedX Holdings, Inc. (MEDH) Enters the Legalized Marijuana Industry in California through Licensing and Lease Agreement
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.
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