SOURCE: MediSwipe, Inc.

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May 05, 2014 08:30 ET

MediSwipe, Inc. Announces Approval of Charlotte's Web Legislation by Florida House and Senate as Company Seeks Top Candidacy for Participation in State Licenses

LOS ANGELES, CA--(Marketwired - May 05, 2014) - MediSwipe, Inc. (www.MediSwipe.com) (OTCQB: MWIP), a fully reporting company on the OTCQB, a leader in the Compassionate Care Industry which provides technology and business solutions, today announced that the Florida Senate passed the bill known as "Charlotte's Web" legislation on Friday after the House overwhelmingly passed it Thursday. Governor Rick Scott is expected to sign a bill that would legalize the use of low-THC marijuana to treat epilepsy and cancer patients. Charlotte's Web, a marijuana strain low in the compound THC, has been shown to curb seizures in children with intractable epilepsy not controlled by traditional medication.

"I'm a parent and a grandparent. I want to make sure my children, my grandchildren, have the access to the health care they want," said Gov. Scott.

The bill puts some restrictions on the use of the marijuana strain known as Charlotte's Web. It can have no more than 0.8 percent THC, the chemical that makes users feel the effects of a high. On average, marijuana has about 15 percent THC, according to the National Institute on Drug Abuse. The strain has normal levels of cannabidiol, or CBD, which is used to treat seizures.

Only physicians, who have been providing ongoing treatment of a patient, can prescribe this low level strain. This is only as a last resort if other treatments aren't effective. The state would also maintain a registry of eligible patients. The marijuana can't be smoked and would be converted into an oil for medicinal purposes. Only four dispensaries would be allowed in the state and they would be highly regulated. Support for the bill, sponsored by Republican Rep. Matt Gaetz, was questionable when it was first filed, but became overwhelming popular after parents of children suffering from seizures pleaded for help during committee hearings.

MediSwipe recently announced that it has leased 20 acres of an agricultural farming facility located in South Florida bordering Lake Okeechobee and the Loxahatchee River in Palm Beach County through its subsidiary Agritech Venture Holdings Inc., with an option thru December 31, 2014, to purchase the land. The agreement is for a 10 year lease on the producing nursery farm with unlimited water sources and electricity including infrastructure already in place, with the first year obligation paid in full. In addition to the option to purchase the land by the end of this year, the Company has the right of first refusal to match any offer the landowner receives for a three year period.

United for Care, the committee sponsoring the medical marijuana initiative, praised Scott for backing the Charlotte's Web bill, but also said in a press release Thursday, "Although this is a significant step forward for our cause, the only complete and permanent solution for all those Floridians who need cannabis to relieve their symptoms from a wide range of debilitating conditions will be the approval of Amendment 2 by voters in November." Democratic governor candidates Charlie Crist and Nan Rich support the amendment, as does Libertarian candidate Adrian Wyllie. Former Governor Charlie Crist supports the medical marijuana initiative. A top Crist supporter, lawyer John Morgan, funded the effort to place the amendment on the ballot.

The campaign manager for Amendment 2, Ben Pollara, said on Miami Beach Friday that the Charlotte's Web measure buoys the efforts chances. "It's a great thing. It's a message from Tallahassee that marijuana is medicine," Pollara said. "It gives us huge momentum going into November to have the voters of Florida say "yes" on Amendment 2."

Amendment 2 would legalize the cultivation, purchase, possession and use of marijuana to treat medical conditions when recommended by a licensed physician. The measure would also order the Florida Department of Health to register and regulate producers and distributors of medical marijuana and to issue identification cards to patients and caregivers utilizing marijuana.

The amendment names nine specific medical conditions: cancer, glaucoma, human immunodeficiency virus infection (HIV), acquired immunodeficiency syndrome (AIDS), hepatitis C, amyotrophic lateral sclerosis (ALS), Crohn's disease, Parkinson's disease and multiple sclerosis. But physicians could recommend medical marijuana for other ailments if, after conducting an examination, they determine cannabis would help patients more than it would hurt them.

Seth Hyman of Weston was delighted to learn of the success of the Charlotte's Web measure. His eight year-old daughter, Rebecca, suffers a genetic disorder that causes her to have almost constant, potentially life-threatening seizures. Hyman also said he supports passage of Amendment 2, legalizing stronger marijuana for medical purposes. His concern is the low-dose Charlotte's Web might not be strong enough to help his daughter. "We're very excited," Hyman told CBS4 News on Friday. "We're looking forward to our daughter receiving the medicine she needs to hopefully control or even eliminate her seizures."

"We at MediSwipe would like to congratulate the great state of Florida on the courageous action by the legislature on behalf of the families and the Charlotte's Web Bill. As a Florida based company with investments in agricultural land consisting of 20 acres next to some of the largest organic farming operations in the state, we can apply immediately as a candidate, partnership or potential licensee on the basis of this new legislation. Considering our experience of over five years in this sector, our Board of Directors and Advisors including Dr. Jayme Canton is supportive in our company to continue our commitment as a leader in the Compassionate Care Industry. Combined with our reach in Colorado consisting of access to Charlotte's Web and similar strains through our licensed tenants in Colorado at our new agricultural facilities there, we believe we can play a vital role in the state. We look forward to providing guidance in the enactment of this legislation and to enable these patients to get the help they need," stated B. Michael Friedman, CEO of MediSwipe.

The Florida Department of Health is expected to formulate a plan to register and regulate producers and distributors of medical marijuana and to issue identification cards to patients and caregivers utilizing marijuana. Bills to legalize the marijuana extract cannabidiol -- the non-psychoactive ingredient in the plant -- have been introduced in several states, and Alabama approved similar legislation in March. Pennsylvania Gov. Tom Corbett ® said Thursday that he'll back a bill to allow its use in his state.

About MediSwipe, Inc.

MediSwipe, Inc. (www.MediSwipe.com), the first fully reporting Company and pioneer within the medicinal marijuana space provides innovative patient and agricultural solutions, is a leader in Compassionate Care Technology for the medicinal marijuana industry. MediSwipe provides real estate management and health and wellness product lines including beverages, vaporizers and accessories. MediSwipe does not directly grow, harvest, or distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.

FORWARD-LOOKING DISCLAIMER:

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe, Inc. to be materially different from the statements made herein.

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