Anexco Resources Ltd.
CNSX : AXO

July 02, 2014 19:51 ET

CORRECTION FROM SOURCE: Anexco Resources Signs Letter of Intent to Develop Automated Medical Marijuana Retail Kiosks and New Corporate Identity-Kaneh Bosm BioTechnology Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 2, 2014) - Anexco Resources Ltd. (CSE:AXO) ("Anexco" or the "Company") -

This press release corrects and replaces the version disseminated July 2, 2014 at 8:00 AM ET. Paragraphs 8 and 9 have been amended. The corrected press release follows:

NOT FOR DISSEMINATION IN THE UNITED STATES

Anexco is pleased to announce that it has signed an arms-length non-binding letter of intent ("LOI") with Alps Innovations Group ("Alps") to exclusively develop, market, and distribute a line of intelligent, automated medical marijuana retail kiosks for the North and South American markets.

Under the terms of this LOI Anexco will collaborate with Alps to customize these automated intelligent retail kiosks to deliver medical Cannabis products and accessories to clients and patients. The kiosks could be considered a hybrid between a bank ATM and a product vending machine, similar to a Best Buy airport sales kiosk. As such, numerous features ensure the security of the product and the machine.

The kiosks feature sophisticated inventory management systems including robotics and RFID chip reader capabilities, and will be capable of unique biometric identification of each customer. The kiosks will be networked to an enterprise server which monitors and records parameters including inventory levels, purchases tracked by each customer, kiosk functionality and health. Furthermore, the inventory area of the kiosks will be climate controlled to ensure product freshness. The kiosks can dispense any number of branded medical marijuana products including accessories such as vaporizers, pipes, or rolling papers.

Under the terms of this agreement, Anexco will have exclusive marketing and distribution rights within North and South America for these kiosks within the Cannabis market. Included within the agreement are additional provisions to develop similar retail kiosks for standard pharmaceutical products should a market demand develop. Anexco will be responsible for all costs related to the customization of the kiosks and will tender 300,000 shares to Alps upon signing the final agreement, and an additional 200,000 shares upon the delivery of the first 25 units. The terms of the agreement are presently set to renew every 5 years based on performance of sales and growth targets.

A number of key terms are still to be negotiated. The parties will work towards completing a definitive agreement by August 3, 2014.

"We feel that these automated retail kiosks will enable traditional pharmaceutical retailers to enter the medical marijuana market without the inconvenience of product handling or building secure storage within their retail outlets," commented Michael Martinz, President of Anexco Resources. Furthermore, smaller single purpose dispensing pharmacies may be able to legally dispense medical marijuana using such a kiosk as it meets with the security requirements to store the product. Medical marijuana products will be delivered in bulk to the kiosks and the internal robotics and RFID capabilities will automatically restock the inventory. This technology will revolutionize medical marijuana retail.

Distribution partnerships will be explored in a variety of territories across North and South America to proliferate this technology into the marketplace. Interested parties should contact Anexco Resources Ltd. at 604 782 4191.

In further news, Anexco has abandoned the previously announced "BC Chronic" brand name as the board deemed it too colloquial, and not in unison with its greater corporate vision. Anexco's subsidiary has changed its name from "BC Chronic Inc." to "Kaneh Bosm BioTechnology Inc."

'Kaneh Bosm' is a Hebrew term for Cannabis as identified in the Old Testament, mentioned in several recipes for holy anointing oils used in healing and spiritual practices. This ancient reference empirically and strongly supports the importance of Cannabis in human history. Thus, its growing relevance today is backed by scientifically proven medicinal and spiritual values and properties should be no surprise. Carl Ruck, professor of classical mythology at Boston University, referring to the existence of cannabis in anointing oils used in ceremonies said, "There can be little doubt about a role for cannabis in Judaic religion. Obviously the easy availability and long-established tradition of cannabis in early Judaism would inevitably have included it in the [Christian] mixtures."

Further unequivocal evidence is offered from a stalwart in the financial sector, The Economist: "If Cannabis were unknown, its discovery would no doubt be hailed as a medical breakthrough. Scientists would praise its potential for treating everything from pain to cancer, and marvel at its rich pharmacopoeia-many of whose chemicals mimic vital molecules in the human body. In reality, cannabis has been with humanity for thousands of years." Medical Marijuana - Reefer Madness, April 27, 2006. Anexco strongly supports the use of Cannabis, ending its prohibition, and is working diligently in the pursuit of multiple opportunities which will maximize shareholder value.

The President of the Company, Mr. Michael Martinz, reports, "I am encouraged by the selection of our new corporate identity. It provides a clear and undeniable connection between the importance of the Cannabis plant in the history and to the future of humanity. We are pursuing multiple opportunities within the marijuana sector which will clearly differentiate Kaneh Bosm BioTechnology from every other company in this sector, and provide maximum return for shareholders. These are exciting times."

The Board of Directors of the Company believes that it has secured the team, and signed LOIs on technologies and an initial production facility that provides an opportunity to quickly enter this fast and growing industry. Anexco has identified opportunities throughout North and South America and is poised to capitalize on these opportunities in the near future.

On behalf of the Board of Directors of Anexco Resources Ltd.

Michael Martinz, President, Director

Rudy de Jonge, CEO, Director

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.

Contact Information

  • Anexco Resources Ltd.
    604.782.4191
    604.637.9614 (FAX)