IMD Companies Inc (ICBU)

[cincy]

NEWS! Canceling acquisition of seed and Feed

PLACERVILLE, CA, Feb. 10, 2015 /PRNewswire/ – iMD Companies, Inc. (ICBU) has announced that it has expanded its focus on hydroponic based products with emphasis on its existing lighting lines. The company stated that directing its resources toward this core business model was a result of current opportunities and the immense long-term growth this sector of the hydroponic industry presents. iMD Companies will continue to pursuit commercial in-door growing opportunities as they relate directly to their products and manufacturing capabilities.
In addition, the Company has mutually agreed to cancel its pending acquisition of Freedom Seed and Feed. iMD will issue 10 million shares of restricted common stock to Freedom Seed and Feed as a cancelation fee.

“Both management teams agreed that it would be in each company’s strategic best interest to remain independent but affirm our desire to work together in the future. Freedom Seed and Feed will pursue a separate public company listing and we support this decision”, stated Larry Robertson, President of IMD Companies, Inc.