TAMPA, FL, Dec. 19, 2013 /CNW/ - IMD Companies, Inc. (OTC: ICBU) Board of Directors is pleased to announce plans to position the Company as a player in the fast-growing Medical Marijuana sector. IMD has been in negotiations with several potential acquisition candidates in this industry for several months.
IMD Companies President and CEO Bruce Collett stated, "We see a potential for accelerated growth in the expanding medical marijuana industry. Our Board of Directors has taken a broader view of trends in the health and wellness sector and, as a result, we have developed a strategic plan we believe will positively impact our business and our shareholders. The Company looks to make major announcements in the near term once these acquisitions have been finalized."
Cannabis has proven effective in treating various neurological diseases such as MS, ALS, Parkinson's, hypertension, and different forms of cancer in various third party laboratory studies. The medical marijuana industry was valued at $1.3 billion in 2011. Recent industry market projections have escalated to nearly $9 billion by 2016 as more states consider legalizing marijuana for medicinal purposes, or decriminalizing the use altogether.
ABOUT IMD Companies, Inc.
IMD Companies, Inc., (OTC MARKETS:ICBU) is a Florida corporation, engaged in the medical diagnostics and health and fitness industries. The company is currently positioned to be a holding company for major acquisitions in the medical industry. Its primary products and services lie in the health and fitness nutraceutical and medical diagnostics services markets. The company has also expanded into the weight-loss industry. The company delivers its medical diagnostic services on-site at participating medical clinics and physician offices. The nutraceutical supplements, pills, bar and gels will be marketed and distributed through participating clinics and on-line web marketing retail methods. The company will continue to develop its innovative marketing strategies, including the use of social networking vehicles.
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:
For Investor Relations call: Frank Giannazzo 407-967-3611