SALT LAKE CITY, UTAH--(Marketwired - April 22, 2014) - Madison Exploration Inc. (OTCQB:MDEX) (the "Company") announces the signing of a Letter of Intent to acquire cannabinoid smokeless technology "CannaStrips" from Mr. 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 acquisition of the technology will be completed with a new issuance of common shares of Madison Exploration Inc. The Company intends to launch commercial operations in Washington State and Colorado in the 2nd quarter of 2014. Upon signing a final agreement Mr. Brent Inzer will assume a role with the Company to help establish the manufacturing and implementation of a strategic marketing plan for the smokeless cannabis products.
About Brent Inzer:
Brent Inzer in 2008 was a co-founder of Marijuana Medicine Evaluation Centers (M.M.E.C.). During the course of two years the company 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 $4 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 in 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 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 President
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SOURCE Madison Exploration Inc.