LAS VEGAS--(BUSINESS WIRE)--Medican Enterprises Inc. (OTCBB:MDCN), announced today that the 67,000 square foot facility located, in Phoenix Arizona, it is acquiring has received zoning approval and is now zone compliant for the operation of legal medical marijuana businesses.
“With the zoning approval in hand, this commercial transaction now meets our criteria and we are moving rapidly to finalize the due diligence process,” commented Ken Williams, CEO of Medican Enterprises. “Located just minutes from Hwy 60 and the I-17 and featuring excellent visibility in a high traffic center, this unique property represents the type of asset we are looking for.”
The transaction is planned for closure by the end of the first quarter of 2015.
About Medican Enterprises, Inc.
Medican Enterprises is a company seeking promising pharmaceutical and other business opportunities in the emerging medical and recreational marijuana sector. Through its subsidiaries, Medican is seeking to invest in businesses associated with the growing, marketing, research and development, training, distribution and retail sale of medical and recreational marijuana, both in the United States and Canada. For more information visit: www.medicaninc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release and statements of representatives of Medican Enterprises, Inc. (the “Company”) related thereto includes forward-looking statements within the meaning of the U.S. federal securities laws. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control), which could cause actual results to differ from the forward looking statements. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management but are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results (including, without limitation, the results of the Company’s efforts to acquire and integrate the dispensary property as described herein) may differ from those set forth in the forward-looking statements. Except as required by applicable law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.