PLACERVILLE, CA, Nov. 12, 2014 /CNW/ - iMD Companies, Inc. (OTC:ICBU) is pleased to announce that funding needed to commence the construction of the first grow facility on the Chippewa Indian Reservation in Michigan has been approved and is expected to be received in approximately 45 days. In addition, a Nevada facility has also been given the go ahead to be constructed with these funds. H & H is expected to receive 50 million dollars from borrowed funds against assets owned by the Tribal Group, which has agreed to fund these projects.
Tribal approval was given to use their assets as collateral to secure the funding. Ground will be broken on the inaugural facility when the actual first transfer of money is received by R-Quest Hydroponics.
H & H Organics Investments and R-Quest Hydroponics have an exclusive contract to design, construct and equip all grow room facilities. H & H has an agreement with the Chippewa Indian reservation to build out the first grow rooms for neutriceutical products. R-Quest Hydroponics will be the beneficiary of those agreements and iMD Companies Inc., has been advised by H & H in regards to the funding and schedule of the build outs for these grow rooms.
"The Michigan facility project secures a very important element to our identity as a commercial grow facility builder and administrator. In addition, the facility in Nevada (Site to be determined) will use the exact same plans and requirements as the Michigan facility," said Jim Filkins, V.P. of Sales for iMD Companies. "But the residual effects are far more reaching as we will use our manufacturing capabilities in the development of products and components to be utilized in these facilities while also distributing them to the open market."
About iMD Companies, Inc.
iMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the medical diagnostics and health industries. The company has recently re-positioned to be a holding company for acquisitions in the medical and marijuana industry. Recent acquisitions in those areas are R-Quest Hydroponics Inc. from Anything Technologies Media (OTC:EXMT). Greenlinks Inc. and Lumz'n Blooms, Ltd., a Manufacturer of Indoor Gardening and Hydroponics Equipment. The company and the principals of the management team have extensive backgrounds in finance, new technologies, manufacturing, marketing and distribution. ICBU's goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings.
About Lumz'n Blooms, Ltd.
Lumz'n Blooms, LTD's main products allow consumers to "Bring the Sun Indoors". Lighting, ballasts, growing materials are considered the "Pickaxe and Shovel" of the "Green Rush". Over the past 7 plus years Lumz'n Blooms has developed strong distribution channels and today counts Central Garden and Pet, HomeDepot.com, Amazon Prime, Bi-Mart, Orchard Supply as well as hundreds of independent Nursery, Hardware and Hydroponics Retailers among its customers. These established distribution channels, combined with their extensive product line and industry knowledge, makes Lumz'n Blooms a foundational acquisition for building future growth. For more information go to www.Lumz-n-Blooms.com, www.TuckersPride.com and www.InHomeGardening.com
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics, Inc., is a Hardware and Software Manufacturing Company with its headquarters in Placerville, California. R-Quest Hydroponics, Inc. has developed the new Environmental Master Controller EMC-5000 system, which is able to provide constant management for grow room facilities for indoor gardens. The EMC-5000 was developed so that growers can rest easy with the confidence that their crop is in excellent hands. The EMC-5000 is able to regulate and control all aspects of an indoor grow system, including Light cycles to optimize growth, Fans, Nutrient pumps, and CO2 level controls to help manage grow rooms. To see more information on the EMC-5000 go to www.r-questhydro.com.
Safe Harbor Statement
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
SOURCE: IMD Companies, Inc.
For further information: JA Hernandez, H & H Organic Investments, 602-413-6239; PACIFIC EQUITY ALLIANCE LLC, Investor Contact: Zachary R. Logan & Drew S. Phillips, Tel. 858.886.7237 / 858.886.7238, Email: [email protected]