SOURCE: Modern Mobility Aids, Inc.

June 30, 2014 09:00 ET

Modern Mobility Aids Announces Cancellation of Over 61% of Issued and Outstanding Shares of Corporation

TORONTO, ON--(Marketwired - Jun 30, 2014) -  Nevada-based Modern Mobility Aids, Inc. (PINKSHEETS: MDRM) (OTC Pink: MDRM) (the "Company") announced today that it has cancelled 120,000,000 shares of the corporation and reached a Major Milestone in its reorganization plan. The share certificate representing the 120 million shares is in the possession of the transfer agent for cancellation. This reduces the total share count to 75,480,000, a significant decrease in shares and a significant increase in shareholder value. The company is now positioned to execute on its expansion into the exciting Emerging Market of the Medical Marijuana space.

Ken Pinckard, CEO of the Company, stated, "We are pleased to have completed this milestone that now allows us to carry out our mandate of the new business focus, the Multi Billion Dollar Medical Marijuana space. Our team has been working diligently behind the scenes and are excited that now we can start to release the news flow to reflect that."

About Modern Mobility Aids, Inc.: Modern Mobility Aids, Inc. was first incorporated under the laws of the State of Nevada on December 19, 2007, under the name of Glider Inc. Its original business plan was to sell and distribute products for mobility-challenged individuals. The Company changed its name to Modern Mobility Aids, Inc. on April 22, 2010 with initial plans to distribute products for mobility-challenged individuals. In February 2014, the business focus of the Company evolved with a rapid expansion strategy in the life sciences and healthcare industry, with a focus on production of Medical Marijuana. A mandate was created to acquire companies within the biopharma and alternative medicine sectors targeting both innovative research and development as well as scalable licensed, manufacturing capacity in three niche market segments.

Safe Harbor

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act").In particular, when used in the preceding of discussion, the words "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. There are no guarantees or assurances that any proposals, initiatives or negotiations will result in what the company had originally intended. Any investment made into Modern Mobility Aids, Inc., would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.

Contact Information

  • CONTACT INFO:
    Modern Mobility Aids, Inc.
    Public Relations and Shareholder Information
    investor@mdrmgroup.com