- Cancels acquisition agreement of Freedom Seed and
Feed
PLACERVILLE, CA, Feb. 10, 2015 /PRNewswire/ - iMD Companies, Inc.
(OTC:ICBU) has announced that it has expanded its focus on
hydroponic based products with emphasis on its existing lighting
lines. The company stated that directing its resources toward this
core business model was a result of current opportunities and the
immense long-term growth this sector of the hydroponic industry
presents. iMD Companies will continue to pursuit commercial in-door
growing opportunities as they relate directly to their products and
manufacturing capabilities.
In addition, the Company has mutually agreed to cancel its
pending acquisition of Freedom Seed and Feed. iMD will issue
10 million shares of restricted common stock to Freedom Seed and
Feed as a cancelation fee.
"Both management teams agreed that it would be in each company's
strategic best interest to remain independent but affirm our desire
to work together in the future. Freedom Seed and Feed will
pursue a separate public company listing and we support this
decision", stated Larry Robertson,
President of IMD Companies, Inc.
About iMD Companies, Inc.
iMD Companies, Inc., (OTC
MARKETS: ICBU) is a Florida corporation, engaged in the
manufacturing, marketing, and distribution of equipment for the
hydroponics industry. The company has recently re-positioned
to be a holding company for acquisitions in the Hydroponics
industry. Recent acquisitions in those areas is a majority
ownership stake in R-Quest Hydroponics Inc. from Anything
Technologies Media and Lumz'n Blooms, Ltd., a Manufacturer of
Indoor Gardening and Hydroponics Equipment. The company and the
principals of the management team have extensive
backgrounds in finance, manufacturing, marketing and
distribution. iMD's goal is to create and increase
shareholder value by tactically growing our core Hydroponics
business while strategically seeking to acquire new
businesses and create other business alliances, which generate
increased revenues and earnings. www.imdcompanies.com
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics,
Inc., is a Hardware and Software Manufacturing Company with its
headquarters in Placerville,
California. R-Quest Hydroponics, Inc. has developed the new
Environmental Master Controller EMC-5000 system, which is able to
provide constant management for grow room facilities for indoor
gardens. The EMC-5000 was developed so that growers can rest easy
with the confidence that their crop is in excellent hands. The
EMC-5000 is able to regulate and control all aspects of an indoor
grow system, including Light cycles to optimize growth, Fans,
Nutrient pumps, and CO2 level controls to help manage grow rooms.
To see more information on the EMC-5000 go to
www.r-questhydro.com.
Safe Harbor Statement
Certain statements made in this
press release constitute forward-looking statements that are based
on management's expectations, estimates, projections and
assumptions. Words such as "expects," "anticipates," "plans,"
"believes," "scheduled," "estimates" and variations of these words
and similar expressions are intended to identify forward-looking
statements. Forward-looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, as amended. These statements are not guarantees of
future performance and involve certain risks and uncertainties,
which are difficult to predict. Therefore, actual future results
and trends may differ materially from what is forecast in
forward-looking statements due to a variety of factors. All
forward-looking statements speak only as of the date of this press
release and the company does not undertake any obligation to update
or publicly release any revisions to forward-looking statements to
reflect events, circumstances or changes in expectations after the
date of this press release.
PACIFIC EQUITY ALLIANCE LLC
SOURCE IMD Companies, Inc.