Marijuana has been in the limelight for years now, especially in United States. Quite a few states have declared it legal while others are still trying to resolve their issues with the central government. Medican Enterprises Inc (OTCMKTS:MDCN) is a well-known name in the healthcare field. As per the reports, it has received the zoning approval for carrying out various marijuana business operations.
Insights On The Matter:
As per the recent announcement of the company, it has decided to acquire a 67,000 square foot facility which is located in Phoenix Arizona. The facility has just received the zonal approval to carry out marijuana related operations. After this approval, this facility can act as a zone compliant for the business of legal marijuana.
Management of the company is delighted to make this announcement. According to Medican Enterprises Inc (OTCMKTS:MDCN)’ Chief Executive Ken Williams, it has proved to be an amazing transaction for the company. Now as the zoning approval for marijuana business has been received by this facility, Medican Enterprises will try to finish the commercial transaction as soon as possible. The primary objective of the company is to finish the due diligence process as soon as possible.
As per the reports, the facility is situated a few minutes away from the I-17 and Hwy 60. The location is ideal for commercial and managerial perspective. Williams thinks that it’s the kind of property that fulfills all the requirements of Medican Enterprises. Reporters contacted Medican Enterprises’ spokesperson to know more about this transaction and the expected completion date of it. He thinks that the transaction will be closed by the end of 1Q2015.
Market experts consider it a win-win transaction for the company. They anticipate it to not only help the company in posting strong financial results in the near future, but also help it enhance its reach among the customers.