Medican Enterprises is in negotiations to purchase 51% of International Herbs Medical Marijuana

Jun 30 2014

Medican Enterprises, Inc. (OTCBB:MDCN) a bio-pharmaceutical company in the emerging global medical marijuana industry is pleased to announce it is currently negotiating the purchase of 51% of International Herbs Medical Marijuana Ltd ("IHMML"). Medican previously announced that they signed an agreement to obtain 50% of IHMML, but for consolidation purposes and increasing role undertaken by the IHMML management team, we are finalizing terms for a 51% acquisition. This will give Medican a controlling interest in IHMML and fits in well with our long-term vision to become a leader in the medical marijuana space.

Medican CEO Ken Williams stated, "the IHMML management team has taken an increasing role within the company and we are pleased to announce that Medican is finalizing discussions to obtain 51%."