Medican Enterprises, Inc. (MDCN)

medican-logo-2The bio-pharmaceutical company Medican Enterprises, Inc aims to be the largest medical marijuana supplier in North America. Based in Nevada, it already has operations in both the US and Canada. Through its subsidiary and partnerships, the company cultivates and conducts researches on medical marijuana for wholesale distribution. It also provides corporate finance solutions for related projects.

The company’s wholly owned subsidiary Medican Systems, Inc serves as the operating division for its Medical Marijuana Cultivation and Research Facilities. It is hoping to be one of Canada’s first licensed commercial producers under the country’s new Marijuana for Medical Purposes Regulations (MMPR).

Meanwhile, Medican’s scientific team is composed of in-house R&D professionals and horticulturists. They are focusing on five strains of pharmaceutical-grade cannabis with varied levels of THC and CBD, the medicinal compounds of marijuana.

Aside from these, Medican Enterprises is open to provide strategic planning, valuation, and other specialty financing services to its joint venture partners.

Currently, the company’s partners are International Herbs Medical Marijuana Ltd and Lions Financial Group. IHMML oversees cultivation operations and facilitates distribution; it recently purchased a 400,000-square foot facility in Canada. On the other hand, Lions Financial Group provides financial expertise and accounting support.

Medican Enterprises, Inc was founded in 1988, and it was first known as Extant Investments, Inc. It then became Sentinel Scientific, Inc, and then TC X Calibur, Inc, until it changed to its current name in 2013.

Today, Medican Enterprises is traded in the OTC markets as MDCN. It has a market cap of USD 21.21 M. Key executives in the company include Kenneth Williams, Chairman and CEO; Kris Klassen, President; Wayne Arthur Hansen, CFO and Principal Accounting Officer; Bal Sandu, COO; and Danny Camele, VP of Marketing.

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Latest Financial News for MDCN

Medican Enterprises, Inc. (MDCN) Announces Joint Rescission Of Previously Announced Acquisition And Merger Agreement

PALM BEACH, Fla., June 21, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Medican Enterprises Inc. (OTC: MDCN) (the ‘Company”) is pleased to announce  that an acquisition and merger agreement it had previously  announced on April 4, 2019, with a private company, Chuck’s Vintage Inc (“Chuck’s”), was today mutually and amicably rescinded by the parties. The parties came to agree that Chuck’s remaining a private venture was a better fit for its business model and that MDCN could better utilize the time and assets it would have had to devote to Chuck’s, in a more beneficial and efficient manner for the Company.

Medican Enterprises Inc. (OTC: MDCN) Acquires Clothing Icon, Chuck’s Vintage Inc.

PALM BEACH, Fla., April 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Medican Enterprises Inc. (MDCN) is pleased to announce the acquisition of California-based, clothing icon, Chuck’s Vintage Inc. Chuck’s Vintage is an upscale-funky shop featuring one-of-a-kind vintage fashions for both men and women with a particular focus on denim. More importantly, due to strong demand from its celebrity customers, Chuck’s Vintage Inc. will begin making its own brand of vintage jeans.

Medican Enterprises Inc. (OTC: MDCN) Merges With The Now Corporation (OTC: NWPN)

PALM BEACH, Fla., Feb. 08, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Medican Enterprises Inc. (MDCN) is pleased to announce that it has merged with The Now Corporation (NWPN) by selling the majority of its assets to it. The consideration paid was both a convertible note of $20 million and half of the preferred share control block to be issued shortly.