New Subsidiary Announced for BG Medical Technologies Expansion
July 15 2014 - 8:39AM
Business Wire
BG Medical Technologies, Inc. (OTC: RIGH) will be creating a new
subsidiary, Genius Biotech Corporation, to specialize in the
healthcare aspects of medical marijuana. BG Medical Technologies
will place its medical device, treatment solutions, and product
manufacturing projects into Genius Biotech Corporation as a
stand-alone corporation with its own growth potential. The
long-term plans of the company are to achieve stable growth as a
rapidly increasing number of states continue to legalize the
medical use of cannabis by the recommendation of doctors for
treating illnesses. Internet technology applicable to both medical
and state-legal recreational cannabis use will remain housed under
the BudGenius brand.
Company CEO Angel Stanz stated, “This will benefit current
shareholders by the acquisition and development of both medical
technology and data technology through parallel growth
trajectories. Genius Biotech Corporation is in a position to
benefit greatly from the continued legalization of medical
marijuana, while our crossover products benefit synergistically
from emerging recreational marijuana markets.”
Stanz continued, “there is a need for one company to be the
statistical and control conduit for distributing medical and
recreational data across synergistic platforms. Our laboratories
provide immediately useful data for the administration of the wide
variety of cannabinoid-based materials and dosage systems, such as
raw plant matter, edibles, and ointments, while our websites
analyze and package data to bring business types together through
unified systems. By partitioning our focus into distinct medical
and general business units we are able to provide a greater overall
value to our shareholders.”
Genius Biotech Corporation will soon have its own website, and
is in the process of being organized as a Delaware C-corp. Further
comments are premature at this time, but Mr. Stanz did state that
the BG Medical board of directors have demanded that Genius Biotech
Corporation should be fully reporting, audited, and Sarbanes-Oxley
compliant.
About BG Medical TechnologiesBG Medical Technologies is a
medical marijuana company that develops technology and research
software for cannabis and natural health solutions. The Company
collects data through a network of proprietary software, utilized
by patients, by retail operators, and by medical professionals. The
Company's current flagship product, BudGenius.com, is a social web
platform connecting cannabis patients to regionally available
medicine that is paired to their needs. The Company operates an
analytical chemistry laboratory designed for cannabis study,
utilized to determine potency and safety guidance for patients and
medicine manufacturers.
For more information please visit:
http://www.BudGenius.comhttp://www.BgMedTech.com
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
BG Medical Technologies, Inc.Angel Stanz, Chief Executive
Officer855-723-3283pr@budgenius.com
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