So we understand who's running things
Oct. 8, 2010 (Marketwire) --
DENVER, CO and PHOENIX, AZ -- (Marketwire) -- 10/08/10 -- The Amergence Group (PINKSHEETS: AMNG), a company that focuses on developing, nurturing, and rapidly expanding selected emerging or "disruptive" companies across a wide range of industries and disciplines, announced today that it has completed the successful acquisition of Altitude Organic Licensing Corporation (AO) which is headquartered in Denver, Colorado.
Terms for the acquisition will be disclosed in a subsequent release.
The company currently has 5 stores using its Altitude Organic™ Trademark who pay an annual license fee of $15,000 per year. Banding together for strength, the Altitude Organic licensee-dispensaries receive joint-marketing benefits, limited free marketing from corporate, purchasing power on all approved partner products and services, national brand recognition, lobbying efforts, medical marijuana consulting, commercial real estate placement and attorney advisory in addition to booth space at the annual convention.
AO's prez, Brian Cook, said, "Thanks to the Amergence Group we will now be able to offer a stock compensation plan for all our store owners. I believe this will be a tremendous incentive for prospective dispensary licensees. In addition, our ownership of the National Medical Marijuana Association (NMMA) will put Altitude Organic in 'pole position' to provide the best services to our licensees and their customers and enable Altitude Organic to capitalize on this exploding trend. Through this growth process, we must always remain vigilant to defend our high quality standards, developing protocols, and compassionate customer service for our patients."
Amergence managing director Peter Jacobs stated, "Our acquisition of Altitude Organic Licensing Corp. at this time makes perfect sense for Amergence shareholders. I have been seeing this 'marijuana legalization wave' building since 1970 and I sense it is getting ready to crest. The Company's timing for this acquisition couldn't be better."
Altitude Organic Medicine medical marijuana centers are currently located in Denver, CO, Colorado Springs, CO, and San Diego, CA.
