Business
iMD Companies, Inc., Closes Acquisition with Lumz'n Blooms, Ltd., a Manufacturer of Specialized Commercial Agricultural, Indoor Gardening and Hydroponic Growing Equipment to the Medical Marijuana Market and Other Key Markets
iMD Companies, Inc., Closes Acquisition with Lumz'n Blooms, Ltd., a Manufacturer of Specialized Commercial Agricultural, Indoor Gardening and Hydroponic Growing Equipment to the Medical Marijuana Market and Other Key Markets.
About this update from Imd Companies, Inc.
[{"type":"text","content":"\n\n\n\niMD Companies, Inc., Closes Acquisition with Lumz'n Blooms, Ltd., a Manufacturer of Specialized Commercial Agricultural, Indoor Gardening and Hydroponic Growing Equipment to the Medical Marijuana Market and Other Key Markets\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\niMD Companies, Inc., Closes Acquisition with Lumz'n Blooms, Ltd., a Manufacturer of Specialized Commercial Agricultural, Indoor Gardening and Hydroponic Growing Equipment to the Medical Marijuana Market and Other Key Markets\nPR Newswire\nTAMPA, FL, April 10, 2014\n\n\n\niMD Companies, Inc. provides initial cash financing\n\n\n\nTAMPA, FL, April 10, 2014 /PRNewswire/ - iMD Companies, Inc. (OTC: ICBU) Board of Directors are pleased to announce they have closed the acquisition of Lumz'n Blooms, Ltd. a Manufacturer and distributor of products and services for commercial and private growers.  General terms of the deal include a cash component to be paid by iMD Companies, 10 MM shares of restricted stock and incentive bonuses based on performance.  Founded in 2006, Lumz'n Blooms, LTD. has a grown its business year over year and generated revenues of over $2 million in 2013 with positive cash flow. \n\nThis acquisition will enable Lumz to meet its growing demand and expand iMD's footprint in the emerging \"growers\" market. Lumz brings expert staffing as well as an established and solid customer base to the iMD. And will provide a \"core\" operating business.   The capital infusion and corporate support will allow Lumz to take advantage several lucrative opportunities that have evolved as a result of successful marketing efforts.   iMD's and Lumz goals are extremely complimentary and this acquisition should add significantly to both revenue and earnings going forward.\n\nLumz'n Blooms, LTD.'s main products allow consumers to \"Bring the Sun Indoors\".  Lighting, ballasts, growing materials are considered the \"Pickaxe and Shovel\" of the \"Green Rush\".  Over the past 7 plus years Lumz'n Blooms has developed strong distribution channels and today count...