DENVER, CO / ACCESSWIRE / August 9, 2016 / MediJane Holdings, Inc. ("MediJane") (OTC: MJMD) a publicly-traded company, operating as a wholesaler and product distribution company within the legalized cannabis industries, is pleased to announce that a letter of intent ("LOI") for a reorganization and merger between MJMD and Phoenix Life Sciences has been executed. Phoenix Life Sciences, Inc. ("Phoenix Life") is a privately held company with a focus on research and development of pharmaceutical grade CBD products.
The vision of the merger is to develop an international network of production, research, testing, and distribution of disruptive medical solutions. Following the merger, the company will be known as Phoenix Life Sciences.
MediJane, which held licensed intellectual property from a Phoenix Life affiliate, was previously engaged in dispensary-based distribution. By merging with Phoenix Life Sciences, the new combined entity will be positioned to draw on combined resources for ownership of intellectual property, scalable production and expandable distribution to doctor's clinics, pharmacies, dispensaries, e-commerce, and international markets.
Shifting from local to global visions and operations, Phoenix Life Sciences aims to expand distribution channels in order to maximize customer exposure, while also expanding research analytics and patient services. Creating both national and international production and distribution channels will help guide the company to reach their objectives of maximizing revenue potential and providing greater access to capital markets.
Through the merger, it is anticipated that the board of directors will be expanded to 9 members who will include: 2 from MediJane, 2 from Phoenix Life, and 5 independent members.
Lewis Humer, Chairman of MediJane, said, "The merger between MediJane and Phoenix Life will enable us to expand our platform to commence national and international distribution, while creating a greater network for maximizing revenue."
Vincent Coviello, President and Chief Investment Officer of Phoenix Life, added, "By combining the entities, expanding the intellectual property portfolio and working with NMS Capital, we look forward to gaining greater access to capital markets and to commencing the international expansion of the group"
About MediJane Holdings Inc.
MediJane is in the business of marketing and distributing products within the legal medical cannabis industry, including transdermal patches, capsules, sublingual sprays, oral strips, and other medical products infused with cannabidiol (CBD). MediJane products give doctors, medical professionals and patient advocates the ability to provide accurate doses of cannabinoids to manage and treat pain and other specific illnesses.
For more information, visit www.medijane.co
About Phoenix Life Sciences Inc.
Phoenix Life Sciences is a disruptive healthcare solutions company.
Our business is to research, produce, and distribute products around the globe that target and treat the following seven major categories of medical conditions: pain, cancer, psychological, gastrointestinal, autoimmune, neurological, and sleep disorders. These categories include conditions that effect hundreds of millions of patients worldwide. Phoenix Life Sciences intends to build an integrated healthcare organization by creating products and programs using emerging biological products such as cannabinoid plant extracts. Delivering these programs through managed agriculture, pharmaceutical production and physician education and distribution networks.
For more information, visit www.phoenix.life
MediJane Holdings, Inc.
For more information, visit www.phoenix.life
Information contained in this press release regarding MediJane Holdings, Inc. and Phoenix Life Sciences, Inc. (the "Companies") may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and other factors which could cause the Companies actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Companies filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to the Companies herein are expressly qualified in their entirety by the above-mentioned cautionary statement. The Companies disclaim any obligation to update forward-looking statements contained in this press release, except as may be required by law.
SOURCE: MediJane Holdings, Inc.