LOS ANGELES, April 18, 2018 /PRNewswire/ -- Med-X, Inc. ("Med-X") and Pacific Shore Holdings, Inc. ("PSH") today announced that they have completed the merger and acquisition agreement ("Agreement") announced in December 2017. Via the Agreement, Med-X, an ancillary cannabis company and a leader in cannabis media and the cultivation services arena, has combined with PSH, a global green pest control service and products company and Over the Counter ("OTC") green pharmacy products supplier. This business combination will enable Med-X to continue leadership in the development of green commercial and consumer products, integrated pest management products and services, and additionally continue to develop all-natural pain management solutions.
To read the details of the completed transaction visit Med-X SEC 1-U Filing dated April 16, 2018.
"The combination of Med-X and PSH represents the next stage of our continued growth to becoming a global leader in green initiative technologies," stated Dr. David E. Toomey, Chief Executive Officer, Med-X, Inc. "With a growing international and domestic distribution partnership footprint, all of our business divisions are positioned for global growth."
The combined company brings together best-in-class product, technology and service capabilities across media, pest control, pain management, aromatherapy and essential oil manufacturing. As a leader in green initiatives technologies, ultimately the combined company strives to help its customers achieve a higher standard with safe and responsible products leading to a better quality of life for its customers and community. Sales will be conducted via various channels including: domestic and international commercial distribution, OTC pharmacy retailers, ecommerce, and third-party service providers. The combination of Med-X and PSH creates immediate opportunities for near-term growth through enhancement of the existing product lines and services to the growing legal cannabis market and cross-selling them through our currently established media network.
The newly merged company will benefit by combining trade secrets and essential oil blending techniques for new products, advanced service solutions already proven effective in other industries, and value-added assets like patents, trademarks, intellectual property and connectivity with mainstream distributors such as Cardinal Health, Independence Medical, Univar, Target Specialty Products and Rentokil. As a result, the new company will be able to better partner with its customers inside the legal cannabis market and to help improve their overall performance and operations thereby enhancing the experience for their own customers in areas such as health, wellness, and quality of life. The combined company will position a large licensed pest control network of "Green Program" trained professionals ready to serve consumers looking to add green pest control to their homes and properties. Additionally, the expanding regulated global cannabis cultivation market presents a large opportunity for expansion of the Company's products and services.
Med-X is in the midst of a resurgence as a thought leader in the cannabis space, especially in regard to exposing certain blemished areas of the industry such as the widespread unregulated pesticide use by cultivators, and the dangerous health impacts of consuming products with high levels of synthetic chemicals. In continuing to expand industry awareness, the company announced in December of 2017, that it plans to scale up and expand its media network division, The Marijuana Times, to help promote cannabis industry leaders, especially those who deserve to be recognized for their hard work and contributions to transforming the legal cannabis business into a robust health conscious industry.
PSH has transformed from a diversified holding company to a streamlined operating company with a focused and leading green products portfolio across multiple venues including pest control, pain management, and healthy living manufacturing. PSH combines its best-in-class products with its first-class reputation and customer support. The company's core strengths include essential oil blending and manufacturing, advanced integrated pest management, pain management solutions, as well as world-class branding and marketing.
Value for Shareholders
This transaction positions the combined company to take advantage of growing the overall business of the below mentioned divisions.
As expected, audited Consolidated Pro-Forma Financials reflect double digit revenue growth. Pro-Forma revenue grew on a consolidated basis of approximately $483,000 for fiscal year 2016 to approximately $617,000 for fiscal year 2017, a 28% increase year over year. In addition, as of completion of the merger, the Pro-Forma consolidated balance sheet reflects assets approaching the $2 million threshold. These factors seemingly position the combined company to continue to pursue entry into the public market. Upon the closing of the merger, the following divisions will be recognized under the combined company's, Med-X, Inc.'s portfolio:
Nature-Cide - Natural Insecticides / Pesticides developed and deployed in commercial pest control, janitorial, hospitality and agriculture including cannabis cultivation. Distributed globally by Target Specialty Products, Univar and Rentokil Initial.
Nature-Cide Cultivation - Large scale, regulated cannabis cultivation and cultivation services and solutions in California and other states that are ramping up for legal cannabis cultivation.
Thermal-Aid - Natural heating and cooling modalities for pain management for the entire family. Distributed domestically by Cardinal Health and Independence Medical.
The Marijuana Times - Global digital media news network.
Maliblu Brands - Organic Cannabis & Hemp derived products developed for a variety of medical conditions, including but not limited to, pain management, PTSD, and sleep disorders.
Home Spa Products - Aromatherapy spa products for personal home use.
About Med-X, Inc.
Med-X, Inc. is a Nevada corporation formed in February 2014, which, through its wholly-owned subsidiary, Pacific Shore Holdings, Inc., produces various products such as the all-natural Nature-Cide pest control products that have evolved from its Nature-Cide Pest Management Service division. Pacific Shore Holdings, Inc. is also known for its patented and clinically proven Thermal-Aid hot and cold pain management modality products, which also include the Thermal-Aid Zoo and the Thermal-Aid Headache Relief System. Med-X, Inc. also supports the fast-paced emerging cannabis industry through the Company's digital magazine, The Marijuana Times, which publishes high quality media content for the business, medical and legislative cannabis communities to generate revenue from advertisers as well as sell industry related merchandise to consumers. The Company has been involved in product development for a number of years and is ready to bring various non-psychoactive Cannabidiol products to the pain management markets, as well as supplying its products to agricultural and ancillary services industries through its Nature-Cide Integrated Pest Management service division. For more information regarding Med-X, Inc. and its divisions, please visit www.medx-rx.com, www.pac-sh.com, Nature-Cide®, Thermal-Aid ® therapy packs, Thermal-Aid Zoo, Thermal-Aid Headache Relief System, Nature-Cide Cannabis Division, The Marijuana Times or email firstname.lastname@example.org or call 818-349-2870.
No Offer or Solicitation Securities
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
Med-X, Inc. Cautionary Statement Regarding Forward Looking Statements
There may be statements in this communication that are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and, therefore, subject to risks and uncertainties, including, but not limited to, statements regarding Med-X, Inc. or the combined company's future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Med-X, Inc. cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Med-X, Inc.'s control, that could cause Med-X, Inc. or the combined company's actual results to differ materially from those expressed or implied by such forward-looking statements. To learn more about the Risk factors, please review Med-X, Inc.'s Regulation A+ Offering Circular.
Contact Information: Med-X, Inc. 8236 Remmet Ave, Canoga Park, California 91304, (818) 349-2870
SOURCE Med-X, Inc.