TORONTO, ON, Canada, via eTeligis Inc., 07/02/2014 - - Nevada-based Modern Mobility Aids, Inc. (PINKSHEETS: MDRM) (OTC Pink: MDRM) (the "Company"), announced today that it has entered into an agreement to purchase a 50% interest in Green Calyx, Inc. part of the Newland family group of companies, a third generation flower grower in Leamington, Ontario.
Green Calyx Ltd, an Ontario Corporation, has an exclusive agreement with a medical marijuana research institute in British Columbia to conduct research on cannabis cultivars to produce cannabis based medicines. The cultivator, Green Calyx, has a directive from Health Canada to install an approved security system that in turn will result in a license being issued to Newland and Green Calyx Ltd to cultivate and conduct research on cannabis.
MDRM is now further positioned to execute on its expansion into the exciting emerging market of the Medical Marijuana.
Ken Pinkard, CEO of the Company, stated, "The acquisition of Green Calyx will give Modern Mobility the ability to develop cannabis based product to help patients with various conditions and be a leader in the medical marijuana industry.
About Modern Mobility Aids, Inc. The Company was first incorporated under the laws of the State of Nevada on December 19, 2007, under the name of Glider Inc. Its original business plan was to sell and distribute products for mobility-challenged individuals. The Company changed its name to Modern Mobility Aids, Inc. on April 22, 2010 with initial plans to distribute products for mobility-challenged individuals. In February 2014, the business focus of the Company evolved with a rapid expansion strategy in the life sciences and healthcare industry, with a focus on production of Medical Marijuana. A mandate was created to acquire companies within the biopharma and alternative medicine sectors targeting both innovative research and development as well as scalable licensed, manufacturing capacity in three niche market segments.
Safe Harbor
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act").In particular, when used in the preceding of discussion, the words "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. There are no guarantees or assurances that any proposals, initiatives or negotiations will result in what the company had originally intended. Any investment made into Modern Mobility Aids, Inc., would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
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