SOURCE: Mobile Broadcasting Holding, Inc.

December 28, 2015 09:02 ET

MBHC Finalizes Acquisition and Names New President Experienced in Cannabis Industry

NEW BRUNSWICK, NJ--(Marketwired - Dec 28, 2015) - Mobile Broadcasting Holding, Inc. (OTC PINK: MBHC) announces that it has completed acquisition of Medically Minded, LLC, a company focused on providing medical cannabis, medical cannabis-related products, and medical tourist services. In a move to quickly organize its operations, the Company has installed its new president, Ken Sobel. As a consequence of this move, Stephen A. Jones, the principal shareholder of Medically Minded, will now assume the CEO position for the Company.

Stated veteran medical executive and CEO Stephen A. Jones, "We're excited the acquisition is complete and that Mr. Ken Sobel will now assume the reins of Medically Minded as president. With Mr. Sobel's impressive qualifications and experience in the quickly growing cannabis industry, we can now lay the groundwork for building a first-class cannabis operation which will provide a spectrum of integrated services."

Medically Minded's new president Ken Sobel is an attorney licensed in California and Arizona for 35 years and has been a consultant, cannabis entrepreneur, and a much sought after speaker in cannabis business and law. Ken has been instrumental in crafting the U.S. Virgin Islands' new medical Cannabis legislation. Operationally, Ken has established two medical marijuana dispensaries and a cultivation facility. Moreover, Ken was the Co-Founder and Board Member for the three major dispensary organizations in Arizona. He received the highest rating for an attorney (AV) by Martindale-Hubbell, and has been the recipient of the San Diego Magazine's "Best of San Diego - Attorneys" for the past four years.

As a patient rights advocate, Ken was the first attorney in the U.S. to sue a state cannabis regulatory body and obtain an order adding PTSD to the list of debilitating conditions appropriate for cannabis use. Ken originally became involved in medical marijuana when he lived in Southern California and his family became the primary caregiver for his mother-in-law who passed from cancer in 2003. In 2008, he became the primary caregiver for his father in Tucson, Arizona, who suffered from Alzheimer's disease, and later passed away from cancer. These situations reinforced Ken's commitment to ensuring that other similarly situated patients had safe access to cannabis.

"The climate for medical cannabis legalization is perfect. The leadership wants it. The community wants it. A lot of people have been working diligently behind the scenes to create the supportive environment which now exists in the U.S. Virgin Islands," stated CEO Stephen Jones. "We look forward to utilizing Mr. Sobel's experience in the cannabis industry to establish a tourist-friendly, full-service state-of-the-art medical cannabis company that will cultivate and dispense medical cannabis across the U.S. Virgin Islands. We also plan to serve as wholesale distributors to other dispensaries of the islands."

Currently, 23 states and the District of Columbia (Washington, D.C.) have legalized medical use and cultivation of cannabis. The U.S. Territories of Guam and Puerto Rico have also implemented medical cannabis programs. U.S. Virgin Island legislation passage is expected to occur in March/April 2016.

SAFE HARBOR AND INFORMATIONAL STATEMENT

This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company's reports filed with the SEC. The Company is not eligible to rely on the safe harbor provided by Section 21E(c) of the Exchange Act because it is not subject to filing periodic reports under Sections 13 or 15(d) of the Exchange Act.

Contact Information

  • Mobile Broadcasting Holding, Inc.
    Stephen A. Jones
    Chief Executive Officer
    Stephen@MMUSVI.com