PORT TOWNSEND, WA--(Marketwired - Aug 15, 2014) - Med-Cannabis Pharma, Inc. (OTCQB: MCPI), a Nevada company specializing in medical cannabis sales, announces that it has obtained a letter of intent to lease a storefront in the Highland neighborhood of Albuquerque, New Mexico, a statutory prerequisite for applying for a permit to open a dispensary under the state's Medical Cannabis Program (MCP). In addition, the Company has scheduled grand openings for its Port Townsend and Hood Canal Collective dispensaries on Monday, August 16th, and Wednesday, August 18th, respectively. The dispensaries will be operated under the Company's subsidiary, Cannabis Hemporium.
The Albuquerque location will become the fourth medical cannabis dispensary in that city, and its opening signals the Company's intent to serve the New Mexico market.
In the USA, 23 States and Washington, D.C. have enacted laws that legalize medical marijuana. The Company recognizes that its product is believed to improve the quality of life of individuals suffering from certain medical conditions. It also recognizes that the industry in the United States is still in its early days, undergoing constant scrutiny from a variety of regulators and tax bodies, and that many legislators are ambivalent on the topic, owing to pressure from constituents. As a public company, Med-Cannabis Pharma intends to maintain its high degree of transparency to those who rightfully monitor and inspect its operations and performance, operating with a degree of control and compliance more similar to the gaming industry than to a chain drugstore. Management believes that this sharp focus will preserve its assets, foster growth, and reduce collisions with those whose duty is to regulate medical marijuana.
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.