LOS ANGELES, April 5, 2016 /PRNewswire/ -- Med-X, Inc.'s crowdfunding initiative is full steam ahead as the final rules for Regulation A+ takes effect in a matter of weeks, the company proudly announced on Monday.
Med-X, Inc.'s entry into the cannabis industry was buoyed by the United States Securities and Exchange Commission's approval of its intent to offer its shares to the public through Regulation A+. The company is the first company engaged in cannabis cultivation and technologies that met the SEC's requirements to source funding via the JOBS Act.
"We've seen how crowdfunding has provided momentum to startups from other industries, and we strongly believe that it can do the same for the cannabis industry," said company president Matthew Mills. "Recent reports also point to crowdfunding surpassing venture capitalism to the tune of $34 billion this year, so the outlook is immensely positive."
Since it launched its campaign on crowdfunding website StartEngine, Med-X, Inc. has received indicated interest from over 1,176 investors equating to $3.7 million. Accredited and non-accredited investors can reserve the company's shares via the site.
"We are offering this chance to reserve shares through an equity crowdfunding campaign to give all Americans the chance to be a part of a positive phase in the rapidly evolving cannabis industry," company CEO Dr. Toomey, Med-X, Inc. said in a previous statement.
"We see tremendous growth potential for the industry at large with both medical and recreational users, as well as a tremendous need for products that the public can trust not to be contaminated with pesticides, mold, or other problematic substances," he added.
Med-X, Inc. is currently developing an all-natural and safe insecticidal soil that can significantly reduce marijuana crop maintenance costs for licensed growers. The soil incorporates the company's product Nature-Cide, a highly effective all-natural insect killer that can be used for marijuana crops to increase yields, and will be available in the third quarter of 2016.
In an unexpected move, the SEC finally adopted the final rules allowing company to sell securities through crowdfunding last October. Title III of the JOBS Act granted companies raising capital through crowdfunding a federal exemption under SEC regulations.
SEC Chair Mary Jo White shares that the government agency believed it's high time to respond to the clamor for the revised rules. "There is a great deal of enthusiasm in the marketplace for crowdfunding, and I believe these rules and proposed amendments provide smaller companies with innovative ways to raise capital and give investors the protections they need," she said in a statement.
Visit the company's StartEngine page to know more about Med-X, Inc.'s projects and leadership, https://www.startengine.com/startup/med-x.
About Med-X, Inc.
Los Angeles-based Med-X, Inc. was established in February 2014 to promote a legitimately organic way of marijuana farming and support advances in developing cannabis for medical use. The company has embarked on a patient-cooperative strategy involving technologies specifically made for cannabis cultivation. In support of its initiatives, the company uses the website, www.marijuanatimes.org as a communication vehicle for its campaigns, and supply the public with accurate and high quality information about the cannabis sector. It monetizes the site through advertising and marketing industry-related merchandise to consumers. For more information about Med-X, please visit www.medx-rx.com, email firstname.lastname@example.org or call 818-349-2870.
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SOURCE Med-X, Inc.