HOUSTON, May 15, 2014 /PRNewswire/ -- Solanbridge Group
Inc (OTC: SLNX) is pleased to announce that on May 14, 2014, due to the commitment of
Solanbridge to the medical marijuana industry, the Company has
cancelled and retired another 500 million common stock shares of
SLNX. Those shares will be returned to the Company's Treasury
immediately. This is the third promised share reduction of
SLNX common stock—for a total cancellation and retirement of 1.5
billion common stock shares overall.
Charles R. Shirley, Chairman of
the Board and Managing Director of Solanbridge, stated "We have now
cancelled 1.5 billion shares from the stock structure of
Solanbridge and we thank David Green
for working with us to accomplish this task." Mr. Green
consented to the 500 common stock share reduction on May 13, 2014.
A Letter of Intent (LOI) was signed on May 12, 2014, between Mr. Beaver Paul of
Germain Paul and Associates, a
Quebec corporation, Mr.
Earle G. Hickey of First Halifax
Financial Corporation, Inc., a Nova
Scotia corporation and Solanbridge, to develop medical
marijuana opportunities throughout all of Canada, including Nova Scotia, with the important input of
Canadian First Nations. 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.
In Nevada and Colorado, Dr. Mark
Cullen has agreed to join our Board to develop medical
products that utilize cannabidiol ("CBD"), one of the many active
ingredients derived from marijuana.
Solanbridge is also encouraged by the changing public opinion
landscape in certain U.S. jurisdictions and the potential for
legislative changes toward medical marijuana legalization in
Florida and Maryland, two jurisdictions where Solanbridge
has a physical presence.
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 commercial grower's licenses in all Canadian medical
marijuana jurisdictions, with the partnership of First Nations and
developing CBD-infused products in Colorado and Nevada through its subsidiary Tasty Greenz
LLC. SLNX's other subsidiary, David's Steak and Seafood,
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, and fresh seafood.
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