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SOURCE Solanbridge Group Inc
HOUSTON, May 15, 2014 /PRNewswire/ -- Solanbridge Group Inc (OTC: SLNX) is pleased to announce that on May 14, 2014, due to the commitment of Solanbridge to the medical marijuana industry, the Company has cancelled and retired another 500 million common stock shares of SLNX. Those shares will be returned to the Company's Treasury immediately. This is the third promised share reduction of SLNX common stock-for a total cancellation and retirement of 1.5 billion common stock shares overall.
Charles R. Shirley, Chairman of the Board and Managing Director of Solanbridge, stated "We have now cancelled 1.5 billion shares from the stock structure of Solanbridge and we thank David Green for working with us to accomplish this task." Mr. Green consented to the 500 common stock share reduction on May 13, 2014.
A Letter of Intent (LOI) was signed on May 12, 2014, between Mr. Beaver Paul of Germain Paul and Associates, a Quebec corporation, Mr. Earle G. Hickey of First Halifax Financial Corporation, Inc., a Nova Scotia corporation and Solanbridge, to develop medical marijuana opportunities throughout all of Canada, including Nova Scotia, with the important input of Canadian First Nations. Plans have been developed to hire a full-time staff member to administer the application process, acquire a building, equip the building with a state-of-the-art security system, and build out all aspects of a commercial medical marijuana grower's production facility.
In Nevada and Colorado, Dr. Mark Cullen has agreed to join our Board to develop medical products that utilize cannabidiol ("CBD"), one of the many active ingredients derived from marijuana.
Solanbridge is also encouraged by the changing public opinion landscape in certain U.S. jurisdictions and the potential for legislative changes toward medical marijuana legalization in Florida and Maryland, two jurisdictions where Solanbridge has a physical presence.
About Solanbridge Group Inc
Solanbridge Group Inc is based in Spring, Texas and is a diversified holding company looking to expand into the medical marijuana industry by developing commercial grower's licenses in all Canadian medical marijuana jurisdictions, with the partnership of First Nations and developing CBD-infused products in Colorado and Nevada through its subsidiary Tasty Greenz LLC. SLNX's other subsidiary, David's Steak and Seafood, Melbourne Beach, Florida, is a classic, upscale steak house, which presents polished dining in an atmosphere of timeless elegance, offering guests the finest cuts of choice USDA meats, and fresh seafood.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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