Solanbridge Group (SLNX) has hired Dr. Mark Cullen to develop CBD-enfused products for the medical marijuana industry
“We realized that with Dr. Cullen’s physical presence in the Lake Tahoe area that this is a part of the medical marijuana business that we can take immediately to the market in Nevada and California without having an indeterminate wait for licenses or other regulatory issues,” Shirley added. Nevada and California have already approved medical marijuana for patients.
Board of Directors exploring other potential medical marijuana jurisdictions such as Alaska, Oregon, Rhode Island, and Nevada.
FOR IMMEDIATE RELEASE
PRLog (Press Release) - Apr. 28, 2014 - HOUSTON -- Solanbridge Group Inc. (OTC: SLNX) reports on its progress and on ongoing developments. "We are happy with the progress of the discussion conducted under the MOU and we hope to sign a final contract by the end of the 30-day period outlined in the MOU,” declared Charles R. Shirley, Chairman of the Board and Managing Director of Solanbridge. There is a great demand for the available medical marijuana licenses in Nova Scotia, but Shirley stated, “We realize that there will be many strong competitors in Nova Scotia, but we believe that with the progress we have made in our discussions with our potential partner and the solid background of people that we will be bringing on board we will have a competitive advantage.”
Solanbridge is also encouraged by the changing public opinion landscape in certain U.S. jurisdictions and the potential for legislative changes toward less regulation of medical marijuana and potentially recreational marijuana use in Alaska, Oregon, Rhode Island, and Nevada. Medical marijuana is legal in 20 states. There is a movement toward medical marijuana legalization in Florida and Maryland, two jurisdictions where Solanbridge has a physical presence.
The Company continues to pursue a commercial grower’s license in Province of Nova Scotia. Plans have been developed to hire a full-time staff member to administer the application process, acquire a building, equip the building with a state-of-the-art security system, and build out all aspects of a commercial medical marijuana grower’s production facility. The MOU signed by the Company on March 29, 2014 still plans to close on time.
On April 23, 2014, due to the commitment of Solanbridge to the medical marijuana industry, the Company has cancelled and retired 500 million common stock shares of SLNX. Those shares will be returned to the Company’s Treasury immediately. Concurrent with the announcement of the Company’s total share reduction, the Company emphasized that the long-term goal of the Company is to reduce the number of common stock shares by another 1 billion common stock shares over the next two months—for a total cancellation and retirement of 1.5 billion common stock shares.
Solanbridge has filed a Consent Agreement, signed by Green, and Board of Directors resolution, signed by Shirley, ratifying the Consent Agreement, with OTC Markets, Inc.