SALT LAKE CITY, UTAH--(Marketwired - June 2, 2014) - Madison Exploration Inc. (the "Company") (OTCQB:MDEX) announces the signing of an Agreement closing the acquisition of a smokeless cannabinoid delivery technology commercially known as "CannaStrips" from Brent Inzer. The technology was developed over four years of formulation and testing. The results of those efforts encompass four smokeless cannabinoid delivery technologies, oral strips, vapor oils, mist spray and droplets. The purchase price for the technology will be five million common shares of Madison Exploration Inc. (OTCQB:MDEX). The Company intends to license the technology to companies interested in producing smokeless cannabis products commercially both in North America and Europe.
About Brent Inzer:
Brent Inzer in 2008 was co-founder of Marijuana Medicine Evaluation Centers (M.M.E.C.) the company in 2 years expanded into 14 standalone clinics. M.M.E.C was the second largest provider of medicinal marijuana evaluations in the country with annual sales of over $6 million. In 2010 General Cannabis, Inc., a publicly traded company, acquired another Inzer Company, Synergistic Resources. As part of the agreement Mr. Inzer continued on with General Cannabis as a consultant, his duties included the management of all new business development. During his time with General Cannabis Inc the company grew from 500 thousand dollars annual sales to over 20 million dollars in annual sales in 2012. After his tenure with General Cannabis, Mr. Inzer completed development and marketing strategies for nutraceutical cannabis infused oral strips, currently marketed as "CannaStrips". Furthermore, Mr. Inzer has consulted for several dispensaries in California and Colorado and aided in the site selection process of real estate locations for collectives as well as grow operations.
On behalf of the Board of Directors, Joseph Gallo, Director and CEO
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SOURCE Madison Exploration Inc.