Inexco Mining Corp. (CSE: IMC), an aspiring medical marijuana company based in Canada, recently announced the conditional approval of its proposed acquisition of Worldwide Marijuana Inc., a private company involved in the medical marijuana space. After announcing the transaction in September 2014, the company has been working diligently to complete financing and make the acquisition.
Worldwide Marijuana has secured the rights to purchase a 46,000 square foot building in British Columbia for $2.2 million that will be suitable to build out as a site to grow, produce, and sell medical marijuana. Currently, the company is in the process of negotiating with various companies that are in the process of obtaining the final approval from Health Canada to have Licensed Producer status.
Worldwide Marijuana aims to be come a leader in the safe and legally regulated medical marijuana industry, with facilities that are approved from Health Canada.
“We are very pleased to have entered into this agreement with WMI and believe it will provide our shareholders with significant leverage in a new federally approved industry,” said President and CEO Craig Engelsman.
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