Atlanta, GA / February 24, 2014/ iBrands Corporation (OTCPink:IBRC), http://www.ibrandscorporation.com/, a holding company targeting the merger and acquisition of niche brands positioned for rapid growth through proven products, today announces the company’s interest in pursuing the Medicinal and Legalized Marijuana sector.
The company has been presented an opportunity to potentially acquire a business operating in the Medicinal and Legalized Marijuana sector. This has encouraged the company to further investigate several business opportunities that fit into this segment. The next step is to initiate dialogue with these potential acquisition targets and commence comprehensive due diligence.
We have hesitated to move forward as it has been uncertain, until recently, how the US Federal Government will respond to states like Colorado and Washington after their legalization. On February 14th, the Department of Justice and the Financial Crimes Enforcement Network, a division of the United States Department of the Treasury, issued a joint statement and concise parameters allowing banks to do business with Medicinal and Legalized Marijuana businesses. The official release from FinCEN can be found here: http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2014-G001.pdf.
About iBrands Corporation
iBRANDS CORPORATION (“IBRC”), http://www.ibrandscorporation.com/, is a publicly traded holding company that acquires and operates niche market brands having unique market positioning with substantial upside. Our strategy is executed through the acquisition of proprietary brands having unique market niches with substantial upside growth and providing strong management. A common thread throughout our acquisitions is the application of Internet technology to enhance revenues and optimize margins.
SAFE HARBOR STATEMENT: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.
Paul Smith, 1-866-595-1081
Source: iBrands Corporation
Release ID: 34132