Terme Bancorp Announces Plans to Enter the Medical Marijuana Market through New Subsidiary
May 07 2014 - 12:19PM
Access Wire
Company Forms Terme Medical Ventures to Focus
on the Medical Marijuana and Clinical Device Markets as well
as Solutions for Infectious Disease Treatments
SUMMIT, IL / ACCESSWIRE / May 7, 2014 / Terme Bancorp
(OTC: TMEB), a holding company specializing in money
services and consumer behavior initiatives, today announced
the establishment of Terme Medical Ventures, Inc., a
wholly-owned subsidiary whose mission is to invest in various
consumer-oriented medical initiatives.
Terme's new subsidiary plans to initially target three
specific market segments: medical marijuana, clinical medical
devices and solutions for the treatment of
infectious diseases. Terme Medical Venture's primary focus
will be to provide leading technology used to grow and
distribute medical marijuana and related services
while forming lucrative partnerships in this rapidly growing
industry. All initiatives in this area will adhere to
regulatory directives and compliance with State, Federal and
International authorities.
Additionally, the Company's management has relationships
that will allow Terme Medical Ventures to enter the medical device
space. Terme plans to develop or license clinical device
technology that will enable individuals to monitor and improve
their overall health. Thirdly, the Company's new subsidiary
intends to form strategic partnerships and relationships with
global entities to meet the global demand for treatments and cures
for infectious diseases.
"The Company plans to enter the medical marijuana industry which
is currently one of the fastest growing markets and will be
for the foreseeable future. The establishment of Terme Medical
Ventures will serve as an integral part of the Company's money
services and consumer behavior initiatives, both which serve
as the foundation of our business," commented John G. Yedinak,
CEO of Terme Bancorp.
"Through Terme's current relationships, we also see tremendous
growth opportunities for the Company in the medical device and
infectious disease markets. Moving forward, we will continue
to explore and expand our business into profitable areas of the
medical industry that will increase revenues and shareholder
value as well as support the Company's core initiatives,"
concluded Mr. Yedinak.
About Terme Bancorp.
Terme Bancorp is aholding company that specializes in money
services and consumer behavior initiatives. The Company
currently has three subsidiary companies, Terme Capital, Inc.,
Terme Mortgage, Inc. and Terme Medical Ventures, Inc. For more
information please visit: www.termebancorp.com.
Safe Harbor Statement
This release includes forward-looking statements, which
are based on certain assumptions and reflects management's
current expectations. These forward-looking statements are
subject to a number of risks and uncertainties that could
cause actual results or events to differ materially from
current expectations. Some of these factors include: general
global economic conditions; general industry and market
conditions, sector changes and growth rates; uncertainty as to
whether our strategies and business plans will yield the
expected benefits; increasing competition; availability and
cost of capital; the ability to identify and develop
and achieve commercial success; the level of expenditures
necessary to maintain and improve the quality of services;
changes in the economy; changes in laws and regulations,
including codes and standards, intellectual property rights,
and tax matters; or other matters not anticipated; our ability
to secure and maintain strategic relationships and
distribution agreements. The Company disclaims any intention
or obligation to update or revise any forward-looking
statements, whether as a result of new information, future
events or otherwise.
Contact:
888-959-7095
ir@sealpointconsulting.com
SOURCE: Terme Bancorp
Terme Bancorp (CE) (USOTC:TMEB)
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