HOUSTON, May 5, 2014 /PRNewswire/ -- Solanbridge Group
Inc. (OTC: SLNX) is in the final negotiations to acquire a
Colorado health product producer
whose products are derived from naturally occurring cannabinoids
and, in particular, cannabidiol (CBD). CBD is related to
tetrahydrocannabinol (the psychoactive constituent of the cannabis
plant). CBD possesses no psychoactive properties and
therefore is a ready for market marijuana based ingredient.
The negotiations for the acquisition are in their final stages and
we should have an announcement in the next week or two.
Dr. Mark T. Cullen, chair of the
Scientific Advisory Board of SLNX stated, "We are looking forward
to working with our new acquisition candidate to develop medical
marijuana products for rheumatoid arthritis and Alzheimer's.
There is great work currently being done in the treatment of brain
damage, severe social anxiety, cancer, and psychological disorders
and we are excited to be a part of that work."
Charles R. Shirley, Chairman of
the Board and Managing Director of SLNX stated, "Dr. Cullen's
amazing career as a medical doctor, a chemist, a researcher, and as
an entrepreneur will add tremendous value to what the group in
Colorado has already started."
Colorado, of course, has already
approved medical marijuana and recreational marijuana use. Shirley
added, "With this acquisition, which is a just few days away from
completion, SLNX will be able to begin work on CBD-infused products
immediately without having an indeterminate wait for licenses or
other regulatory issues."
Dr. Cullen's resume fits nicely with the development of medical
marijuana products. He is a Yale
University-trained doctor and medical director, who had
academic appointments at Yale
University and University of Florida. Dr. Cullen has
done collaborative work with the World Health Organization (WHO),
the Center for Disease Control (CDC) and the National Institute of
Health (NIH). He has been published in numerous periodicals
and has contributed to an educational movie series by National
Geographic. He is an entrepreneur who has developed
start-up companies and has also worked as the CEO of multiple
companies both public and private. He is an inventor who has
created ultrasound desulfurization and heavy oil upgrade
technology.
The Company continues to pursue a commercial grower's license in
Province of Nova Scotia. Plans have been developed to hire a
full-time staff member to administer the application process,
acquire a building, equip the building with a state-of-the-art
security system, and build out all aspects of a commercial medical
marijuana grower's production facility. The MOU signed by the
Company on March 29, 2014 still plans
to close on time.
Malfait, A.M., et al., The nonpsychoactive cannabis constituent
cannabidiol is an oral anti-arthritic therapeutic in murine
collagen-induced arthritis. Proc Natl Acad Sci U S A, 2000. 97(17):
p. 9561-6.
About Solanbridge Group Inc.
Solanbridge Group Inc.
is based in Spring, Texas and is a
diversified holding company looking to expand into the medical
marijuana industry by developing a commercial grower's license in
the Province of Nova Scotia,
Canada and developing CBD-infused products in Nevada, California, and Colorado. Solanbridge's subsidiary, David's
Steak and Seafood, in Melbourne Beach,
Florida, is a classic, upscale steak house, which presents
polished dining in an atmosphere of timeless elegance, offering
guests the finest cuts of choice USDA meats, fresh seafood and much
more.
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
All forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the company's SEC filings. These risks
and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements.
SOURCE Solanbridge Group Inc.
