Marijuana has been the cynosure for eons in the United States. A number of states have said that it is legal whereas others are trying to sort out issues with central government.
Medican Enterprises Inc (OTCMKTS:MDCN) is a reputed name in healthcare field and there is information that the firm has got zoning approval for doing marijuana business operations.
The firm will be acquiring 67,000 square foot facility located in Phoenix Arizona. This has got the zonal approval for carrying out marijuana related operations.
Post the approval, the facility would act as a zone compliant for legal marijuana business.
Medican Enterprises Chief Executive Ken Williams stated that it has been an amazing transaction for the company.
The company would be trying to complete commercial transaction as fast as it can because the zoning approval for marijuana business has been received. The first aim of the firm is to complete the due diligence as fast as possible.
The facility is located some minutes away from the I-17 and Hwy 60. The location is perfect for commercial and managerial perspective.
Williams is of the view that the property meets all needs of Medican Enterprises. Medican would be closing the transaction by end of 1Q2015.
Market experts opine that it is a win-win transaction for the company.
They feel that it would not only aid the firm in giving strong financial results in the near future but also aid in enhancing reach among the customers.