The popularity of marijuana has enhanced to that level in United States that more and more companies are looking forward to exploring this field to make the best use of the prevailing market situation. One such company is Medican Enterprises Inc (OTCMKTS:MDCN) which trying hard to explore various pharmaceutical and other business opportunities in this field. As per the reports, Medican and JTB Real Estate LLLP have decided to extend the closing date of the sought after Arizona Property Acquisition.
Insights On Matter:
Both of these companies announced to execute Arizona Property Acquisition couple of months back with an objective to close the deal as soon as possible. Due to insufficient resources, they agreed to finish all the proceedings within a few months time. As per the reports, they are looking forward to closing this deal in the financial year 2014-15.
Details of The Arizona Property:
Medican and JTB Real Estate had decided to acquire the 7,200 square foot commercial and retail property located in the Phoenix, Arizona. The first draft of this announcement was made available on January 20, 2015. The primary reason for executing this deal was nothing but the high potential of Arizona property to generate immediate cash flow and revenues for the long term. Both, JTB Real Estate, and Medican do not want to leave any stone unturned; hence, they are trying aggressively to close it as soon as possible.
Reporters tried to get in touch with the representatives of both the companies to know the insights of the transaction, but things didn’t work as per the plans. None of the representatives from these companies has come ahead and talked about closing the deal. Experts claim that the final news about this matter might hit the market in a few days time and have a positive impact on their performance in the stock market.