Medican Enterprises Inc. (OTC:MDCN) is pleased to announce that it has now entered the California real estate market
Online PR News – 05-September-2019 – los angeles, ca – MDCN has purchased all of the membership interest in Immediate Properties LLC, a Limited Liability Company (http://immediateproperties.net).
Immediate owns over $15 million of exceptional real estate holdings including, but not limited to, several apartment buildings with the exact location, including revenues, to be announced in a future press release.
Immediate's near term strategy is to engage in the construction of residential and commercial units. As such, the initial focus over the next year will be of land acquisition as well as continued servicing of its existing real estate. In the longer term, however, it will expand into the lucrative hospitality industry with vacation rentals and hotels.
Pursuant to the Acquisition and Merger Agreement signed on July 19, Ken Williams has resigned as CEO with the simultaneous appointment of Dana Belle as interim CEO. Ken Williams will, however, remain as President and a director for a three month period to help with an orderly transition.
Ken Williams, President of Medican Enterprises Inc. (OTC:MDCN), states the following, "Medican's main asset consisted of face value, convertible notes in the amounts of $20 million and $5 million in The Now Corporation (OTC:NWPN) and Green Stream Holdings Inc. (OTC:GSFI) respectively. However, the company now has added $15 million of California real estate holdings producing substantial revenues."
Dana Belle, Interim CEO of Medican Enterprises Inc. (OTC:MDCN), states, "we will utilize the corporation to uplist to a higher exchange since we want to become a real estate investment trust. We would like to thank Ken Williams and the mergers and acquisitions consultant, Paul Khan, for providing us with this opportunity. Their leap of faith will not go unrewarded as shareholders will benefit from our aggressive, proven, acquisition strategy."
Updates will be forthcoming
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medican Enterprises Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Medican Enterprises, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.