SARASOTA, Fla., Sept. 24, 2014 /PRNewswire/ -- International
Consolidated Companies, Inc. (OTC Pink: INCC), a provider of
logistical and technological services to the medical marijuana
industry through its wholly owned subsidiary, Medical Cannabis
Holdings, Inc., has announced that it has completed the
restructuring of its core businesses and operational focus, as
follows:
- INCC owns 100% of Medical Cannabis Holdings, Inc., a
Colorado corporation ("MCHI"),
which is in the business of acquiring companies with technologies
that make growing and processing medical cannabis more efficient,
cleaner, greener and smarter.
- MCHI owns 100% of:
- GroPro Systems, Inc., a Florida corporation ("GroPro").
Antonio Uccello, the CEO of INCC,
stated, "We believe that GroPro has the best, most efficient and
most effective system for growing medical cannabis
hydroponically. GroPro is in the final stages of filing its
intellectual property paperwork with the USPTO, which is expected
to be completed in the coming weeks, after which we will be able to
showcase the system."
- Vortex Delivery Systems, Inc., a Colorado corporation that has purchased all of
the assets of Vortex Water Pipes. MCHI anticipates adding
delivery products to the existing Vortex medical marijuana
lines.
- Existing projects:
- Chaffee County Property:
One of GroPro's significant customers (John
Mehos dba Prosperous Valley) is finalizing his application
for a medical marijuana grower's license for submission to
Colorado, which INCC believes will
be reviewed sometime after October 1,
2014. Assuming approval of the state application, GroPro will
close on the real estate it has under contract in Chaffee
County. It is anticipated that GroPro will begin construction
of a state-of-the-art GroPro facility in Chaffee County beginning in the first quarter
of 2015, with an anticipated completion by the end of the second
quarter of 2015. INCC intends to lease the GroPro System in
order to generate a recurring revenue stream. Prosperous
Valley's application includes a lease of the state of the art
facility and GroPro system for $1,000,000 per month, quarterly in arrears.
- New Business Opportunities:
- MCHI is working with several successful growers in Colorado to lease the GroPro System, two of
which have made a preliminary commitment to leasing the system in
Denver facilities. GroPro is
also pursuing a joint venture with a real estate owner in
Denver that is interested in
partnering with GroPro.
- MCHI is consulting on a preliminary medical marijuana facility
and permit applications in Canada,
and is currently in contact with Canadian officials and local
landowners to determine the best course of action. Such
applications could be completed and approved as early as the end of
fourth quarter 2015, depending on Canadian municipal and provincial
schedules.
- MCHI is reaching out to existing and potential growers in
Colorado, Washington, California and other states around the country
to build facilities outfitted with the GroPro System.
Mr. Uccello states, "With many of the above initiatives already
underway, we are setting the groundwork for our company today and
for the future to be at the forefront of this nascent
industry. We are truly committed to helping those who
could benefit from medical marijuana by offering growers the best
possible hydroponic solutions, and to create facilities designed to
maximize growth and yield potential."
ABOUT INCC
International Consolidated Companies, Inc. ("INCC" or the
"Company") is focused on acquiring and expanding businesses that
offer services and technologies to assist medical marijuana growers
and patients with more efficient production and smarter delivery
systems. Through targeted acquisitions, brand recognition and real
estate and technology joint ventures, the Company believes it can
capture significant market share in Colorado, Washington
State, and California. INCC
will provide both technology and consulting services to medical
cannabis growers, activists and industry professionals. The Company
believes it will generate revenue by leasing its propriety
technologies to qualified licensed medical growers, and by
providing training and consulting services to assist lessees in
operating their businesses more profitably.
DISCLAIMER
Certain of the statements contained herein are "forward-looking
statements" within the meaning of federal securities laws and, as
such, are subject to risks and uncertainties that could cause
actual results to differ materially from those described in such
forward-looking statements. Such statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. These forward-looking statements are based on
management's expectations as of the date hereof, and the Company
does not undertake any responsibility to update any of these
statements in the future.
SOURCE International Consolidated Companies, Inc.