SOURCE: Med-Cannabis Pharma Inc.

September 09, 2014 12:55 ET

Med-Cannabis Pharma, Inc. Announces Election of Executive Chairman

PORT TOWNSEND, WA--(Marketwired - Sep 9, 2014) - Med-Cannabis Pharma, Inc. (OTCQB: MCPI), a Nevada company specializing in medical cannabis sales, announces that in a special meeting this morning, the company's Board of Directors voted to fill a vacant Board seat by electing Peter W. Preksto, who will also serve as Executive Chairman of the Board.

A co-founder of Oklahoma City-based corporate security firm, Praxis LLC, Preksto, 61, is a seasoned executive with a long career in technology management and business development. Preksto was an early innovator of demand-publishing systems. He served as Division Vice President for Coral Gables-based, publicly traded BLOC Development, building the F3 Forms Automation System. He co-founded and served as president of Seattle-based Numinous Technologies, Inc., a company that licensed software inventions developed by graduate students, productized them, and then re-licensed the finished products to others. He was a co-founder and president of privately held Balize, Inc., an online community-software company located in Fort Lauderdale. For several years, Preksto has served as a marketing strategist and change-management consultant for technology and engineering companies in the United States and Norway. He is a director of Vector-Air, Inc., a value-added reseller of defense-grade situational-awareness systems used by emergency-prone municipalities.

Preksto said, "These are early days in our industry. Although we near the tipping point for nationwide adoption by States of laws that support medical marijuana, our company must set a national example of rigorous observance of laws, regulations, and customs in each operating region. For our company to build shareholder value, we must combine growth with conservative management and practices."

Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. The Company does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information

  • Contact Information
    Med-Cannabis Pharma, Inc.
    +1 214 666 8364 direct