Meridex Closes Non-Brokered Private Placement for C$690,000 Meridex Software Corp. (TSX VENTURE:MSC.H) (the "Company" or "MSC") further to its release of April 3, 2014 is pleased to announce it has closed its non-brokered private placement (the "Financing") for 2,760,000 units at a price of $0.25 per unit, ("Unit") for aggregate gross proceeds of CDN $690,000. Each Unit will consist of one common share and one non-transferable share purchase warrant (a "Warrant"). Each Warrant will be exercisable by the holder to acquire one additional common share at a price of $0.50 for a period of twelve (12) months following the closing of the financing. The Warrants are subject to an accelerated expiry which comes into effect once the shares trade above a weighted average price of $0.75 for any twenty consecutive trading-day period, subsequent to four months from Closing. In the event of an accelerated expiry, the expiry date will be the earlier of the regular 12 month expiry date and 30 days from the date the Company advises the placees of the accelerated expiry.
The proceeds from this private placement will be used for general working capital purposes and a portion will be used to settle debt.
Meridex Announces Agreement to Acquire Biogen Sciences Inc. 16 May 2014 - ACQUIREMEDIA VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2014) - Meridex Software Corp. ("Meridex") (TSX VENTURE:MSC.H) is pleased to announce that it has entered into a binding Share Purchase Agreement to acquire Biogen Sciences Inc. ("BSI"), a privately held B.C. biopharmaceutical company focused on drug discovery and development of the therapeutic science of cannabinoids. Under the terms of the agreement Meridex will purchase 100% of the outstanding equity of BSI by issuing 4,000,000 million shares and, upon completion of the transaction, Biogen will become a wholly owned subsidiary of Meridex. "This is a compelling strategic opportunity for Meridex," said Craig Schneider, President & CEO. "By acquiring BSI we are positioning our company to capitalize not only on the surge of investor interest in the medical marihuana space but also the continuing strong growth in the life-science sector. With nearly $3 billion dollars being raised for Canadian companies in 2013 within the life science sector we are confident being a part of this space will allow us to accelerate our shareholder growth and create value. "To reflect the company's new direction and reflect our new business strategy we have changed our name to 'Cannabis Technologies Inc.'." Additional information can be found on the company at www.cannabis-tech.com. ABOUT BSI BSI is a private biopharmaceutical drug discovery and development company uniquely focused on the therapeutic potential of cannabinoids. The company consists of two divisions: Drug Discovery & Development - BSI is utilizing its proprietary "Cannabinoid Drug Design Platform" to identify new bioactive compounds within the marijuana plant that interact with certain gene responsible for specific diseases. BSI's extensive research and intellectual properties will initially be focused on the development of several new cannabinoid based treatments for glaucoma, cancer & angiogenesis, Inflammation and pain. Cultivation & Breeding - BSI's botanical research division has begun the research & development into the individual strains and clones that will produce the raw material bases for future pharmaceutical research. To comply with the demands of the Pharmaceutical industry, a phytopharmaceutical feedstock must meet high expectations regarding the minimum and maximum content of a range of compounds. Cultivation techniques and pharmaceutical levels of exacting chemical consistency are critical for all applications to regulatory authorities.
Meridex signs M.O.U with FLO RIDA for an Exclusive License in the Health and Fitness Category VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Meridex Software Corp. (TSX VENTURE:MSC.H) (the "Company" or "MSC") announced today that it has signed a memorandum of understanding ("MOU") with 4-time Grammy nominated, multi-platinum selling recording artist and international music superstar FLO RIDA and his company FLO FIT Holdings LLC.
The Company and FLO FIT Holdings LLC, and Tramar Dillard (FLO RIDA) have signed an MOU for an exclusive license to FLO RIDA's name, trademarks, image and likeness in the health and fitness category including but not limited to an instructional exercise video series. The MOU, is non-binding, and is subject to the execution of definitive transaction agreements, regulatory, shareholder and board approval as may be required.
In addition, upon execution of the definitive material agreements, the Company and FLO RIDA, have agreed to a private placement subscription agreement in which FLO RIDA will purchase $100,000 USD in common shares of MSC. This private placement is subject to regulatory, board and shareholder approval as may be required.
"We are excited to have taken this step as a business as we make a move into the multi-billion dollar health and fitness video and products category," said Craig Schneider President and CEO for Meridex. "We can't think of any other partner that we would rather be starting out our new business direction with than FLO RIDA. FLO RIDA is an advocate of health and lifestyle, his physical appearance supports that, and as a brand he has more than 17 million fans on Facebook and over 5 million followers on Twitter, he is truly a global brand. Our plan upon finalizing the definitive agreements is to commence the production of a new extreme home based fitness video series starring FLO RIDA, which upon completion will be marketed and sold in the same direct to home billion-dollar fitness sector as P90x® and Insanity®. From there we have ambitions together to add a number of new ancillary products, apparel, apps and more all under a single brand."
About FLO RIDA
FLO RIDA is an international hip hop artist and businessman having sold over 60 million singles around the world. He owns a music production company under the banner I.M.G. STRONGARM, and has a following around the globe with over 17 millions Facebook fans and over 5 million followers on Twitter. Information on FLO RIDA can be found at www.officialflo.com.