SOURCE: Health Sciences Group, Inc.

December 04, 2009 11:33 ET

Health Sciences Group in Negotiations to Joint Venture and Acquire Two Montana Marijuana Growers and Caregivers Companies

INDIAN HARBOR BEACH, FL--(Marketwire - December 4, 2009) - Health Sciences Group, Inc. (PINKSHEETS: HESG) would like to announce that it is in strong negotiations to acquire a minority stake in two separate Montana-based marijuana growing, distribution and care giving operations.

"This is part of our strategy, acquiring existing operations as well as starting new operations. We feel that the profits in Medical Marijuana are in growing and transportation of marijuana," states Thomas Gaffney, CEO of Health Sciences Group.

Gaffney continues, "We are still working with Medical Marijuana, Inc. on doing business in California and we are also exploring operation businesses in Colorado."

The deals would more or less be partnerships. HESG would fund the operations for expansion and growth of the existing business. The negotiations are moving quickly and we expect them to close no later than the end of December 2009 or the first of the year.

"With these acquisitions, HESG would be the first public company with actual operation of a Medical Marijuana business," states Gaffney. "Once the preliminary documents are decided and signed we will announce the names; until then we are keeping the names of the Companies under wraps. The public can expect the names of the companies to be exposed by the middle of next week."

In the State of Montana you must be licensed as an actual caregiver to grow marijuana. Combined, each of these operations have approximately 100 patients combined.

Below is a portion of the Montana medical Marijuana Act.

                       Montana Medical Marijuana Act
                            INITIATIVE NO. 148

NEW SECTION. Section 1. Short title. [Sections 1 through 9] may be cited as
the "Medical Marijuana Act".

NEW SECTION. Section 2. Definitions. As used in [sections 1 through 9], the
following definitions apply:
(1) "Debilitating medical condition" means: (a) cancer, glaucoma, or
    positive status for human immunodeficiency virus, acquired immune
    deficiency syndrome, or the treatment of these conditions; (b) a
    chronic or debilitating disease or medical condition or its treatment
    that produces one or more of the following:
       (i) cachexia or wasting syndrome;(ii) severe or chronic pain;(iii)
       severe nausea;(iv) seizures, including but not limited to seizures
       caused by epilepsy; or(v) severe or persistent muscle spasms,
       including but not limited to spasms caused by multiple sclerosis or
       Crohn's disease; or
    (c) any other medical condition or treatment for a medical condition
adopted by the department by rule. (2) "Department" means the
department of public health and human services. (3) "Marijuana" has the
meaning provided in 50-32-101. (4) "Medical use" means the acquisition,
possession, cultivation, manufacture, use, delivery, transfer, or
transportation of marijuana or paraphernalia relating to the
consumption of marijuana to alleviate the symptoms or effects of a
qualifying patient's debilitating medical condition. (5) "Physician"
means a person who is licensed under Title 37, chapter 3. (6) (a)
"Caregiver" means an individual, 18 years of age or older who has
agreed to undertake responsibility for managing the well-being of a
person with respect to the medical use of marijuana. A qualifying
patient may have only one caregiver at any one time.
    (b) The term does not include the qualifying patient's physician. (7)
"Qualifying patient" means a person who has been diagnosed by a physician
as having a debilitating medical condition. (8) "Registry identification
card" means a document issued by the department that identifies a person as
a qualifying patient or caregiver. (9) (a) "Usable marijuana" means the
dried leaves and flowers of marijuana and any mixture or preparation of
marijuana.

(b) The term does not include the seeds, stalks, and roots of the plant.
(10) "Written certification" means a qualifying patient's medical records
or a statement signed by a physician stating that in the physician's
professional opinion, after having completed a full assessment of the
qualifying patient's medical history and current medical condition made in
the course of a bona fide physician-patient relationship, the qualifying
patient has a debilitating medical condition and the potential benefits of
the medical use of marijuana would likely outweigh the health risks for the
qualifying patient.  

ABOUT HEALTH SCIENCES GROUP, INC.

Health Sciences Group, Inc. is a provider of health and wellness services to consumers, physicians and other healthcare professionals through its website, www.igohealthy.org, and health focused publications. The Health Sciences network consists of its public website, www.igohealthy.org, and iGoHealthy Magazine. The Company operates in three segments: Online Services, Publishing and Other Services. The Company is recently exploring options of corporate growth within the Legal Medical Marijuana Industry.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Health Sciences Group, Inc. to be materially different from the statements made herein.

Contact Information

  • CONTACT:
    Health Sciences Group, Inc.

    Thomas Gaffney
    President and CEO
    (321) 604-1451
    Email Contact