LAS VEGAS–(BUSINESS WIRE)–Medican Enterprises Inc. (OTCBB:MDCN) (“Medican” or “the Company”), a merchant bank and bio-pharmaceutical company in the emerging global marijuana industry, announces that further to its press release of April 28, 2014 the Company has closed on its acquisition of TWYNS, a company that provides branding services for enterprises in the Cannabidiol (CBD) business. The transaction is valued at approximately $1,000,000, all in stock and is expected to add approximately $400,000 to Medican’s annual revenues.
TWYNS business plan extends the sale of CBD to more consumers globally through strategic branding,” stated Ken Williams, CEO of Medican Enterprises. “The model is Coca-Cola’s very successful bottling distributing arrangement. We believe that cannabis will be a cottage industry for the foreseeable future, with each regulated jurisdiction demanding fees and licenses. TWYNS will provide local growers, product manufacturers and distributors with a reliable ‘seal of approval’ that ensures quality and provides the consumer with a reliable benchmark.”