Medican Enterprises Inc (MDCN)

[TPX]

NEWS! Medican Enterprises Inc. (MDCN:OTC) Provides A Corporate Update

November 20, 2018 09:00 ET | Source: Medican Enterprises Inc
PALM BEACH, Fla., Nov. 20, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Medican Enterprises Inc. (MDCN:OTC) is pleased to provide a corporate update. The company has acquired stakes in various businesses over the last two years of which some are producing revenues. All, however, have strong competitive advantages. It is management’s desire to provide capital to these businesses/assets to help them exponentially grow as we also develop our own unique strain that will bind most of these companies together.

The company has recently seen an increase in volume from convertible note holders exercising their conversion privileges and receiving stock. We believe that we can absorb these shares based on the assets of the company. However, with the assistance of the mergers and acquisitions consultant, we are exploring other contingencies such as the merger/sale to other entities where all shareholders will be compensated.

Medican Enterprises Inc. (MDCN:OTC) has signed agreements with respect to hemp most recently with Green Gold Acquisitions, Inc. for a joint venture utilizing land in Alamosa County, Colorado. In addition, we are studying the feasibility of using a portion of our land in South Haven, Michigan to grow hemp as the House and Senate each passed their own versions of the 2018 Farm Bill. This means the Hemp Farming Act will permanently legalize hemp and derived products like cannabidiol (CBD) of which Medican will be a direct beneficiary.

Please click on the link for additional information:
https://hempsupporter.com/hemps-hearing-on-the-hill/
https://hempsupporter.com/farm-bill-update-2/
https://www.bennet.senate.gov/public/index.cfm/search?p=search&q=Hemp+Farming+Act

With respect to being current with OTC Markets Group Inc., we are in discussions with various investors to provide the capital now that our disclosure statements are almost complete. We are hoping to get this completed this month.

The company has no intention of doing a reverse split in the foreseeable future.

Updates will be forthcoming

http://www.globenewswire.com/news-release/2018/11/20/1654554/0/en/Medican-Enterprises-Inc-MDCN-OTC-Provides-A-Corporate-Update.html