Cannabis Sector Acquisitions Fuel Recent Expansion in the Legal Medical & Recreational Marijuana Industry - Company Signs LOI For Asset Purchase of L.A. Dispensary - Tucson News Now

Cannabis Sector Acquisitions Fuel Recent Expansion in the Legal Medical & Recreational Marijuana Industry - Company Signs LOI For Asset Purchase of L.A. Dispensary

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CORAL SPRINGS, Florida, May 22, 2014 /PRNewswire/ --

Cannabis Sector continues expansion with new site developments, acquisitions and new product announcements as the marijuana industry sees continual growth: OSL Holdings (OTC: OSLH), Creative Edge Nutrition, Inc. (OTC: FITX), Hemp, Inc. (OTC: HEMP), Tranzbyte Corporation (OTC: ERBB), Tauriga Sciences, Inc. (OTC: TAUG) and Cannabis Science, Inc. (OTC: CBIS)

OSL HOLDINGS (OTCQB: OSLH), a growth-stage public company in the business of acquiring and optimizing key aspects of the legal cannabis industry and loyalty rewards programs, today announced that it has executed a letter of intent to acquire the assets of licensed medical marijuana dispensary on Melrose Avenue in Los Angeles, adding to its existing asset base in the California region.

"This letter of intent furthers our plans to acquire key assets and options for future cannabis related assets to be used in the legal medical and recreational cannabis industry," said Bob Rothenberg, CEO of OSL Holdings. "When the legal climate is right, these agreements are expected to become the foundation for providing an array of services to dispensaries in California's burgeoning legal cannabis market, as well as to future cannabis companies across the country." Mr. Rothenberg continued, "In the meantime, OSL will lease non-cannabis acquired assets to non-cannabis businesses throughout the country, as well as provide an array of services including planning, marketing and branding to businesses hoping to enter the legal cannabis industry in the U.S."  

To read the full press release, please click here: http://www.fnmprofiles.com/profiles-oslh.html

"OSL remains in the business of serving a socially conscious, affluent audience," said Steve Gormley, Chief Business Development Officer of OSL. "In the meantime, as we build the foundation for future success in producing and selling federally legal cannabis products, OSL will provide operational and technological support in the form of operations software, industry knowledge, retail infrastructure, and other efficiency and cost-savings know-how to various non-cannabis business concerns."

Creative Edge Nutrition, Inc. (OTC Pink: FITX) recently announced its subsidiary CEN Biotech Inc. purchased a 25 acre site in Lakeshore, Ontario (approximately 1/4 mile from FITX's main site). The site is located at 135 North Rear Rd. The site is nearly complete and we will call for pre-license inspection on it within a few weeks. This is an independent and separate application from the site at 20 North Rear Rd, Lakeshore, Ontario. This will also be a standalone fully functional facility; a smaller model of the building one site one standalone model. It will be a cGMP/ USP 797 facility and have a similar workflow model to the main site. The company has applied for the license to grow and sell marijuana and will be applying for the license to grow hemp on the site and conduct hemp trials. "We purchased the site with the intentions of operating a research and development facility with respect to strain genetics, new grow techniques and bio-medical research," commented Bill Chaaban, President & CEO. "It has been our intention to not only grow and sell medical marijuana, but to be leaders in the forefront of medical marijuana research; In particular, to further identify treatment modalities for specific disease states based on strain selection. We intend to develop and own the intellectual property."

Hemp, Inc. (OTC Pink: HEMP) announced this week that it has purchased a whole line of automated Temafa decortication equipment designed to separate the fiber from the core of the hemp plant through a process known as decortication. The Temafa decortication line of equipment, the only one of its kind in the United States, purchased by Hemp, Inc. will now enable the company to process raw hemp for American farmers into two valuable base products (fiber and hurd) that can both yield hundreds of products. The equipment is currently located at a plant in North Carolina. Hemp, Inc. is set to move the equipment to a more suitable location such as Kentucky, Tennessee, South Carolina, North Carolina, or the Georgia area. "This purchase of decortication equipment was a critical step in order for Hemp, Inc. to help Americans transition from non-sustainable synthetic solutions to a hemp-based green solution. We are very excited at what we'll be able to achieve once our manufacturing facility ramps its hemp production volume up over the next few years," said Perlowin, CEO of Hemp, Inc. (HEMP).

Tranzbyte Corporation (OTC Pink: ERBB) recently announced that the ZaZZZ, Mach 1, will begin leaving the factory next week for delivery, set up, and use in concert with a coordinated media event at all four dispensary locations. The machines may be in place and in use in advance of the 12th, but a "safety-net" of a few days has been built in for general planning of the webcast so all shareholders can be included in the event. Two days prior to the event, management will offer a conference call to answer as many general questions as possible and include a limited question-and-answer period. The company plans to address a wide range of topics relating to its many divisions and their products in a conference call scheduled for 1PM Eastern on June 10th. "We have irons in many fires, and sometimes one aspect or another of our business gets obscured," says company president David Gwyther. "We realize that until our efforts are visible on a day to day basis, the onus is on us to keep the public informed. Conference calls such as these will provide the time and platform to communicate more of our vision and progress to more people than can a press release or sound bite from media interviews."

Tauriga Sciences, Inc. (OTCQB: TAUG), a diversified life sciences company with a proprietary microbial fuel cell technology and a pending acquisition in the medicinal cannabis space, has recently provided shareholders with several updates to disclose meaningful progress realized by the Company in recent days. The Company is mindful of the recent volatility in its share price and decided to issue this update to address some of the potential investor concerns. The Company is committed to completing its pending acquisition of California-based Honeywood LLC ("Honeywood" or "Doc Greens"), a developer of topical medicinal cannabis products currently sold in legal dispensaries throughout California, upon the successful completion of its comprehensive due diligence processes and protocols. The Company plans to continue to update shareholders throughout the process. In addition, the Company has been evaluating potentially intriguing opportunities in the cannabis natural medicine space and will continue to contemplate additional partnerships and acquisitions to increase exposure to that emerging market segment.

Cannabis Science, Inc. (OTCQB: CBIS), a U.S. Company specializing in the development of cannabis based medicines, recently announced a joint observational study with the MEDIWIET Patient Organization. MEDIWIET is a rapidly growing Dutch organization of patients using medicinal cannabis based medication. The main purpose of the observational study is to further advance the knowledge of cannabis plant based product applications in various human disease conditions. The study will be conducted with the approval from the Dutch regulators and it is anticipated that data collected will be published in a peer reviewed scientific journal. "We are excited to initiate work on the observational clinical study with patients who use medicinal cannabis. The long-term effects of using medicinal cannabis continue to be a subject of an ongoing debate. It is very important that we provide further scientific evidence for the benefit of patients and medical professionals alike," stated Mr. Mario Lap, President of European Operations and Director of Cannabis Science B.V.

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