Management of QED Connect, Inc. (OTC Pink: QEDN) (PINKSHEETS: QEDN) today announced the acquisition of Emerald Med Farms, LLC, a California based medical marijuana company. The company will be a wholly owned subsidiary of QED Connect, Inc.
Emerald Med Farms is a newly launched enterprise that cultivates, harvests cannabis for the medical marijuana industry with a business philosophy to be the "Cannabis Purveyors of the Highest Quality". They have developed an exceptional methodology of employing a continuous sterile environment during all stages of operations to ensure that the product maintains the upmost quality and purity. Their facilities will be state-of-the-art utilizing multi-state proven methods to produce the highest of quality medical cannabis. Emerald Med Farms management and key personnel have a successful track record including a Master Grower with over 27 years of experience in California with both inside and outside growing for all styles of plant and vegetation. The company has also built a strong network of industry professionals ranging from research facilities to individual scientist from around the globe to support their endeavors. The Company operations are in full compliance to the medical marijuana California Co-Operative. The Co-Op maintains a roster of registered patients under "right to grow" which defines the number of plants per patient per script.
After extensive research by its founders, it was determined that the best locations for the company to conduct its business was Mendocino County California not far from the Russian River's prime growing region. Mendocino County has a wide range of mesoclimates (the distinct climate conditions of a specific area, specifically as experienced by a vineyard site) that are influenced by the county's diversity in climatic and geography. The region is rich in agriculture history to include nearly 40 wineries, and is ideal for Emerald Med Farms to grow cannabis. The Company is finalizing its arrangements for the primary operations site (growing, harvest, drying, production of products) on 300 acres that are unique as it has extensive natural spring fed wells. This is a key element in producing high quality harvests.
The Company is currently in production of its first phase of its development plan. They began its operations early this year to be in position to benefit from a full year growing season. The products are distributed through a Cooperative of California medical dispensaries. Please see the company's web site for additional information:www.emeraldmedfarms.com
Medical uses of marijuana has an extensive history dating back about 10,000 years ago. Cannabis is one of the 50 "fundamental" herbs in traditional Chinese medicine. It is rumored that Thomas Jefferson traded marijuana blends with George Washington and the other founding fathers and both Jefferson and Washington traded seeds and plants with other farmers on a regular basis. In the 1970s, a synthetic version of THC was produced and approved for use in the United States as the drug Marinol.
The legalization of marijuana for both medical and recreational uses has expanded in the last few years and the growth rate of the U.S. cannabis industry almost doubling year over year, according to the latest industry report (ArcView Market Research). Legal marijuana sales in the U.S. will top $2.3 billion in 2014, up 64 percent from 2013 $1.4 billion and is projected to reach $10.2 billion by 2018. Currently there are 21 states and Washington DC that have legalized the use of medical marijuana.
Tom Makmann, President and CEO of QED Connect commented, "We are very excited to be entering into the medical marijuana market place. The utilization of the cannabis or specific cannabinoids as herbal therapy to treat disease or alleviate symptoms is experiencing high levels of acceptance. With the acquisition of Emerald Farms, QED believes it is well positioned to become a leading supplier in this high growth market and expects to be producing income within six (6) months of operations."
Steven Amato, Sr., General Manger and VP Operations of Emerald Med Farms, added, "We have been working on our business plan for the last few years beginning with finding an ideal location for the farm. The relationships that we have developed will allow us to continue to provide the latest strains and implement improved techniques to keep Emerald Med Farms as a leading provider. By joining QED, we are well positioned to realize our plan and expect to see the results of our initial planting by the middle of this year."
Under the terms of the agreement Emerald Med Farms will continue to operate as an independent organization under the current management as a wholly owned subsidiary of QED Connect. Emerald Med Farms will receive 10,000,000 shares (restricted stock) of QED Connect. Additional information of the terms of the transaction will be released in the corporate flings.
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company works with organizations that are looking for capital, management assistance, or help in reaching their target markets to realize their true potential. QED primarily focuses on businesses that are producing revenue and that can expand into additional markets or sectors. QED looks beyond current conditions such as underperformance of an existing asset due to inadequate capital, limited development expertise or a lack of strategic vision, and is able to recognize short and long-term asset potential and opportunities to add value. This business model achieves the Company's goals while expanding its overall revenue and profits and diversifies through entry into the multiple market segments. By helping its partners and subsidiaries realize success the resulting growth, enhances QED's ability to increase shareholder value. www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) close the above acquisitions; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.
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SOURCE: QED Connect, Inc.