Business
MOBILE BROADCASTING HOLDING, INC., TO ACQUIRE MEDICAL CANNABIS COMPANY
MOBILE BROADCASTING HOLDING, INC., TO ACQUIRE MEDICAL CANNABIS COMPANY.
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[{"type":"text","content":"MOBILE BROADCASTING HOLDING, INC., TO ACQUIRE MEDICAL CANNABIS COMPANY\nNEW BRUNSWICK, NJ, DECEMBER 17, 2015/GLOBE NEWSWIRE/ - Mobile Broadcasting Holding, Inc. (OTCPink: MBHC) announces that it has entered into an agreement for the immediate acquisition of Medically Minded, LLC, which is focused on providing medical cannabis, medical cannabis-related products, and medical tourist services. The Company plans to change its name to Medically Minded, Inc. \nVeteran medical executive and President Stephen A. Jones will replace the Company’s current management. Mr. Jones has advised the Company that he plans to announce his board of directors in upcoming weeks, which include medical doctors of ophthalmology, pediatrics, and general practice; attorneys; and a scientist who has developed a cannabis extraction technique and lectures on the human endo-cannabinoid system. Medically Minded is also engaged in advocacy efforts to achieve legalization of medical cannabis in the U.S. Virgin Island, with the expectation that it will be able to obtain the necessary licensure to engage in the cultivation and distribution of cannabis products, when approved by the territorial legislature. U.S. Virgin Island legislation passage is expected to occur in March/April 2016.\nGiven the current favorable political climate, prospects appear particularly positive that the U.S. Virgin Island Medical Cannabis Patient Care Act will be approved. Presently, 23 states and the District of Columbia (Washington, D.C.) have removed state-level criminal penalties from the medical use and cultivation of cannabis. The U.S. Territory of Guam has enacted a regulated medical cannabis program, and the Governor of the U.S. Territory of Puerto Rico has signed an Executive Order to implement a medical cannabis program. Fourteen other states have decriminalized the use of medical cannabis for children with seizure disorders (“Charlotte's Web” laws). \nMr. Jones stated: “We are excited about the prospect of becoming a publicly traded company. Entry into the medical cannabis field will require significant capital, which we believe would not be available to us as a private issuer. The opportunity to launch with a debt free public company is very attractive to us. We believe our distribution network in the U.S. Virgin Islands coupled with the advance expertise of our board will ena...