LOS ANGELES, CA--(Marketwired - April 28, 2014) - MediSwipe, Inc. (www.MediSwipe.com) (OTCQB: MWIP), a fully reporting company on the OTCQB and leader in Compassionate Care Technology and indoor/outdoor agricultural solutions for the medicinal marijuana industry, today announced that the Company has executed and closed a lease agreement for 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. The new agreement includes 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. Pursuant to the lease agreement, through November 1, 2014, MediSwipe has an option to purchase (purchase option) the land for $1,100,000 and maintains a first right of refusal to purchase the property for three years.
The lease and purchase option agreement comes on the heals of the passage of HB 843 in South Florida last Wednesday by the House Judicial Committee voting in favor 15-3 aimed at decriminalizing low grade marijuana specifically for use of treating medical seizures in children. The so-called "Charlotte's Web" legislation will seek to establish additional guidelines and four centers across the state as it moves now for Senate approval ahead of the November ballot to vote to legalize medical marijuana in the state of Florida. Florida Governor Rick Scott added language that the state's Department of Health should create an Office of Compassionate Use to compile a registry of patients whom doctors would consider eligible for the particular strain of cannabis labeled "Charlotte's Web."
"I am extremely pleased to see my home state of Florida moving this legislation forward so quickly to help the many families whose children suffer from epileptic seizures and inoperable tumors causing these seizures. I have seen and have first hand knowledge of how this strain helps children's suffering, and we are hopeful that MediSwipe with its many resources will be considered as a viable partner in Florida once this legislation is approved. In just the last three months, we have moved to create the largest managed agricultural facilities in Colorado and have partnered with the state's licensed and most experienced growers with access to this strain. With an oncology testing facility as part of our sub-leased Denver corporate office and relationships ranging from Universities to the largest drug Companies doing cancer studies, we believe MediSwipe is in the best position as a potential designated partner as a Florida based public Company, management as Florida residents and over 10 years of industry experience within the sector. Our business philosophy will be to continue to acquire and control viable agriculturally zoned properties in regulated jurisdictions using minimal capital resources while hedging long term potential within the sector," stated B. Michael Friedman, CEO of MediSwipe.
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 seeks to be the 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.
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.