PLACERVILLE, CA, May 10, 2017 /PRNewswire/ - iMD Companies, Inc. (OTC: ICBU) Board of Directors announced today that the company has received an offer from a public company to buyout iMD Meds and all other Hydroponics, CBD products including their Hemp Energy Protein Bars. The company is currently negotiating the terms of the agreement and plans to announce the finalization of the deal. The company is looking to streamline its efforts and focus solely on being a mining company. The company feels more comfortable in registering with the SEC as a Mining company and feels the registration will be clearer for auditors and regulators.
The company completed its acquisition of Krishna Minerals back in October 2016. Krishna Minerals is a producing mine in India with over 600 acres of mining claims, which are producing manganese and Iron ore metals. Krishna Minerals has major contracts with the Chinese government to supply manganese and Iron ore to China. Krishna Minerals has received several new contracts and recently received a 66-million-dollar contract for 100,000 Metric Tons of Magnesia Chrome Powder. Because of this increased demand in mining contracts, the company feels it should focus all its efforts into mining. The company is also planning a name change to better reflect a mining company.
Richard Wilson CEO of ICBU stated, "We are excited about this buyout offer to acquire all of our Hydroponics and CBD related products including our Hemp protein bars. We feel this offer will bring substantial assets into the company. When the buyout is completed it will give IMD Companies Inc., the opportunity to focus all its efforts on mining."
About iMD Companies, Inc.
IMD Companies, Inc., www.imdcompaniesinc.com (ICBU) is a Florida corporation, engaged in the manufacturing, extraction and distribution in mining, hydroponics, Hemp and CBD Health products industries and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the medical, mining and hydroponics industries. Acquisitions in those areas are R-Quest Hydroponics from Anything Technologies Media (OTC: EXMT). The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. ICBU's goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings.
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SOURCE iMD Companies, Inc.