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On March 29, 2014, the Company negotiated a non-binding Memorandum of Understanding(MOU) with a Nova Scotia resident, who currently holds a license to grow medicinal marijuana in the Province of Nova Scotia. The MOU mandates a 30 day due diligence period to explore the parameters of a transaction between the Company and the Nova Scotia individual—with the goal of developing a business relationship and acquiring a commercial cannabis grower’s license in Nova Scotia, under Canada’s Marijuana for Medical Purposes Regulations.
On March 29, 2014, the Company passed a Board of Directors resolution cancelling all preferred shares issued by Solanbridge Group. The Board’s action was fully supported by shareholder consent (81% approval). Any and all preferred stock share certificates issued by the Company before March 29, 2014 are null and void and those shares have been returned to Solanbridge Group’s Treasury. The Board, with Shareholder consent, took this action to fully terminate the Company’s business relationship in South Carolina and to prepare for other business opportunities.
Solanbridge is to provide the best possible risk-return value for its shareholders, by making direct investments into or outright purchases of revenue generating foreign and domestic private/public companies.
Solanbridge over the next 12 months will look to expand its operations and acquire several new subsidiaries covering a vast business spectrum.
www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=118634
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