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Sunday, November 27, 2022

Medican Enterprises Inc (OTCMKTS:MDCN) Is a Stock in Focus

Medican Enterprises Inc (OTCMKTS:MDCN) has drifted back into oblivion after a recent decent pop last month. The stock trades at a fraction of its former self since the 10 for 1 reverse split and the Company just announced it has closed on its acquisition of TWYNS, a company that provides branding services for enterprises in the Cannabidiol (CBD) business. The transaction is valued at approximately $1,000,000, all in stock and is expected to add approximately $400,000 to Medican’s annual revenues.

MSCN s a bio-pharmaceutical company focused on developing, distributing and marketing pharmaceutical grade cannabis to the emerging global medical marijuana market. It’s wholly owned subsidiary Medican Systems Inc. is an industry leader in the design, construction and operation of Medical Marijuana and Cultivation Centers across Canada.

Medican Enterprises Inc (OTCMKTS:MDCN) operates in the Medical Marijuana sector which is a fast growing industry worth $2.34 billion in 2014 and according to Greenwave Advisors, if all 50 states legalize MJ and the federal government followed suit and made it legal, the combined sales for Medical and Recreational MJ would reach higher than 35Bln USD by 2020.

All the excitement on MDCN is about the 67,000 square foot facility in Phoenix, Arizona which the company plans to lease as a pot growing and warehouse facility to licensed growers.

The industrial building sits on 2.55 acres of industrial zoned land. The anticipated final purchase price for the property is $2,340,310 and a closing is planned during the first quarter of 2015 pending, among other closing conditions, a variance to zone the building for the cultivation of marijuana.

The acquisition of this property will launch Medican’s real estate and leasing services business under which the company would lease real estate that is outfitted with turnkey solutions for legally compliant growing facilities to licensed growers. At current market rates the property is estimated to produce annual lease revenues of approximately $1,400,000.

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Ken Williams said at the time “We are pleased with the valuation at which we plan to consummate this cornerstone transaction for our leasing business, and we have identified several more strategic real estate assets in the United States where the production and sale of marijuana is legal and licensed. Medican is committed to maximizing shareholder value by effectively assessing and managing new and existing leasing and other potential marijuana-related business opportunities.

On March 25 MDCN said the 67,000 square foot facility located, in Phoenix Arizona, it is acquiring has received zoning approval and is now zone compliant for the operation of legal medical marijuana businesses.

CEO Ken Williams said “With the zoning approval in hand, this commercial transaction now meets our criteria and we are moving rapidly to finalize the due diligence process. Located just minutes from Hwy 60 and the I-17 and featuring excellent visibility in a high traffic center, this unique property represents the type of asset we are looking for.”

The transaction is planned for closure by the end of the first quarter of 2015.

MDCN had previously announced the Company and JTB Real Estate LLLP (“JTB”) have agreed to extend the closing date of the previously announced acquisition. The acquisition of the 7,200 square foot retail and commercial property in Phoenix, Arizona was detailed in the press release dated January 20, 2015. The building acquisition brings near-term revenue and cash flow potential. Both parties are aggressively working together to close on or before March 31, 2015.

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Currently exploding out of sub penny land MDCN has just $148,000 in the treasury, rising debt and no revenues to date. But MDCN is an exciting story developing here; the Company just announced its first ever of TWYNS which will add $400,000 in revenues to the bottom line. They have no less than 2 MMJ grow facility properties; a 67,000 sq ft MMJ grow facility and a 7200 sq ft grow facility in Phoenix, Arizona, pending mortgage and finalizing terms of convertible debenture and the stock is trading at a fraction of its former self since the 10 for 1 reverse. We will be updating on MDCN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MDCN.

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Disclosure: we hold no position in MDCN either long or short and we have not been compensated for this article.

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2 COMMENTS

  1. When a loved one is in pain, wasting away unable to eat, and needs this marvelous herb in order to increase their appetite, reduce the overwhelming pain, and live as as healthy and happily as they can with the time they have left, let’s have the compassion to allow them to have it.

    Stop treating Medical Marijuana Patients like second rate citizens and common criminals by forcing them to the dangerous black market for their medicine.

    Risking incarceration to obtain the medicine you need is no way to be forced to live.

    Support Medical Marijuana Now!

    “[A] federal policy that prohibits physicians from alleviating suffering by prescribing marijuana for seriously ill patients is misguided, heavy-handed, and inhumane.” — Dr. Jerome Kassirer, “Federal Foolishness and Marijuana,” editorial, New England Journal of Medicine, January 30, 1997

    “[The AAFP accepts the use of medical marijuana] under medical supervision and control for specific medical indications.” — American Academy of Family Physicians, 1989, reaffirmed in 2001

    “[We] recommend … allow[ing] [marijuana] prescription where medically appropriate.” — National Association for Public Health Policy, November 15, 1998

    “Therefore be it resolved that the American Nurses Association will: — Support the right of patients to have safe access to therapeutic marijuana/cannabis under appropriate prescriber supervision.” — American Nurses Association, resolution, 2003

    “The National Nurses Society on Addictions urges the federal government to remove marijuana from the Schedule I category immediately, and make it available for physicians to prescribe. NNSA urges the American Nurses’ Association and other health care professional organizations to support patient access to this medicine.” — National Nurses Society on Addictions, May 1, 1995

    “[M]arijuana has an extremely wide acute margin of safety for use under medical supervision and cannot cause lethal reactions … [G]reater harm is caused by the legal consequences of its prohibition than possible risks of medicinal use.” — American Public Health Association, Resolution #9513, “Access to Therapeutic Marijuana/Cannabis,” 1995

    “When appropriately prescribed and monitored, marijuana/cannabis can provide immeasurable benefits for the health and well-being of our patients … We support state and federal legislation not only to remove criminal penalties associated with medical marijuana, but further to exclude marijuana/cannabis from classification as a Schedule I drug.” — American Academy of HIV Medicine, letter to New York Assemblyman Richard Gottfried, November 11, 2003

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