LAS VEGAS, Sept. 29, 2016 /PRNewswire/ - MEDIATECHNICS CORPORATION (OTC: MEDT) is pleased to announce that it has entered into a letter of intent (LOI) with Vaxa Industries of Denver, Colorado (VAXA) to market CBD base hemp products on a wholesale basis. VAXA will supply MEDT with high purity CBD isolates on a wholesale basis at less than one third of the average wholesale price. Multiple sources currently sell, on a wholesale basis, CBD for as much as $30-50,000 per kg. MEDT plans to market these products at prices substantially below that of our competitors. Vaxa believes it can supply well over 100 kg per month and MEDT believes that the market can easily support over 1,000 kg per month over time. While MEDT is still working to complete the spin-off of its subsidiary BlazeNow Inc (BlazeNow), BlazeNow's over 2,800 retail dispensaries and delivery services will be an important factor in this endeavor.
The US market for CBD is, according to some estimates, over $65,000,000 and growing rapidly, while the availability of CBD isolate is extremely limited.
MEDT currently retains consultants who operate one of the most successful dispensaries in Los Angeles as well as a very successful extractions company, The Bloom Brand. More info about The Bloom Brand can be found at:
Additionally, MEDT is negotiating management contracts, whereby MEDT would provide management services for legal marijuana dispensaries in Arizona and Nevada. Additional states may be added as soon as these opportunities are realized.
ABOUT MEDIATECHNICS CORPORATION
http://www.bloomberg.com/quote/MEDT:US and our subsidiary BlazeNow Inc, specialize in providing ancillary products and services to the medical and recreational Cannabis industries. Our management will utilize industry experience to target the areas of the market with the highest profit potentials. We believe in the future legitimacy and profitability of the industry based on recent studies showing bi-partisan support of Cannabis legalization. We believe that Cannabis provides a healthier alternative to conventional pharmaceutical and recreational drugs and will play an important role in the future of our country's health care. We are determined to be a dominant force in defining this emerging market.
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ABOUT BLAZENOW INC.
BlazeNow Inc., a subsidiary of MediaTechnics, is poised to become a leader in the way cannabis connoisseurs access delivery services, head shops, dispensaries and doctors, BlazeNow Inc. has released its BlazeNow™ app (www.blazenow.com) for use by cannabis business owners and consumers. The app enables business owners to provide accurate and up to date information to consumers and provides a much needed advertising tool for small businesses, and up and coming cannabis brands.
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Twitter: @BlazeNow420, or
This press release contains forward-looking statements that involve risks and uncertainties. Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), and it is the Company's intention and belief that all such statements are covered by the safe harbors created by the Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.
SOURCE MediaTechnics Corporation