SOURCE: The Amergence Group

The Amergence Group

October 11, 2010 09:10 ET

Amergence Group Announces Terms and Details of Its Acquisition of Altitude Organic

DENVER, CO and PHOENIX, AZ--(Marketwire - October 11, 2010) -  The Amergence Group (PINKSHEETS: AMNG), a company that focuses on developing, nurturing, and rapidly expanding selected emerging or "disruptive" companies across a wide range of industries and disciplines, announced today the terms and additional detail of its successful acquisition of Altitude Organic Licensing Corporation (AO) which is headquartered in Denver, Colorado.

According to the agreement, The Amergence Group will invest $475,000 in Altitude Organic, the pioneer medical marijuana licensing company, of which $50,000 has already been paid. An additional $80,000 will be paid to AO in the short term with another payment of $345,000 following AO's successful completion of agreed-upon milestones. In addition to supplying the cash needed for Altitude Organic's growth, the Denver company will be receiving 16,000,000 shares of common shares in The Amergence Group.

Further, when Altitude Organic achieves certain milestones, The Amergence Group has agreed to fund the documentation and audits required for Altitude Organic to become a fully reporting bulletin board company on its own. The Amergence Group will also be named as AO's sole and exclusive placement agent for services and current short term funding and Amergence will also have the right of first refusal on subsequent fundings.

According to Brian Cook, Altitude Organic's president, "We see the medical marijuana business exploding in the next 12-24 months and we see Altitude Organic playing an integral part in helping to ignite its fuse. 'Prohibition' is coming to a close in the US and every American taxpayer will be far better off. From the billions of dollars no longer needed to be spent by law enforcement agencies policing marijuana, to a reduction in inmates from our already crowded prison system, to the billions of dollars collected in new taxes, I believe the positive effects of even the conditional legalization of marijuana will be felt by our economy almost instantly. Is there anyone out there who doesn't think our economy could use a boost right now?"

Amergence managing director Peter Jacobs stated, "We expect Altitude Organic to add hundreds of medical marijuana dispensaries to their growing list of licensees in a relatively short period of time. The company will be supplying each dispensary with the marketing and financial expertise, trademark affiliations, banking, medical and legal referrals -- everything a dispensary needs to provide the best product to its clients and return a decent profit. I believe Altitude Organic IS tomorrow."

Altitude Organic Medicine medical marijuana centers are currently located in Denver, CO, Colorado Springs, CO, and San Diego, CA.

The National Medical Marijuana Association (NMMA) commercial can be viewed here: http://www.youtube.com/watch?v=hXQMsPlKJcc

To learn more about the National Medical Marijuana Association visit them here: http://nationalmedicalmarijuanaassociation.org/ 

ABOUT THE AMERGENCE GROUP

The Amergence Group's (PINKSHEETS: AMNG) provides valuable advice and support to new businesses with its goal of accelerating their intended plans to introduce edgy, disruptive, and/or innovative technologies to the world market. The Company's 8-year-old Tranzbyte division continues to focus on the development and marketing of its innovative group of optical media enhancement technologies worldwide such as FLASHAlbum, a technology which enables distributors of optic disc media (CDs and DVDs) to combine the best features of both on one USB flash drive.

ABOUT ALTITUDE ORGANIC LICENSING CORPORATION

Altitude Organic Licensing Corporation was founded in Denver during the medical marijuana industry "fever" of early 2010. AO Licensing Corp. generates revenue in the fastest growing industry in the United States without carrying the liability of growing and selling marijuana. The company generates revenue by licensing its "Altitude Organic" Federal Trademark to dispensaries. The company also offers medical cannabis advocacy and consulting services to its licensed dispensaries. The corporate website can be found at: www.AltitudeOrganicMedicine.com.

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.

Contact Information

  • Company and Contact:
    Peter H. Jacobs
    Managing Director
    md@amergencegroup.com

    14220 N. Northsight Blvd., Suite 139
    Scottsdale, AZ 85260
    (480) 443-1600

    Company and Contact:
    Brian Cook
    President
    info@altitudeorganicmedicine.com

    1716 Boulder St.
    Denver, CO. 80211
    (720) 855-6337