International Merchant Advisors, Inc. Signs LOI to Manage and Invest in Licensed Medical Marijuana Dispensary in Denver, Colorado
KINGWOOD, Texas, March 23 International Merchant Advisors, Inc. (IMAI.PK) www.imaiinc.com announced today that the company has signed a letter of intent to purchase a minority equity interest in a Denver, Colorado based Medical Marijuana dispensary located in the highly sought after Cherry Creek area in Denver, and to operate the dispensary as the manager of the venture.
IMAI CEO Mel Roseman said, "We are pleased to announce this letter of intent to acquire an interest in a Denver based medical marijuana dispensary and to manage its operations. As of March 1, 2010, Denver has adopted stringent new standards for licenses, and this Cherry Creek based facility has been granted a license under those new standards. Denver news outlets report that prior to the new requirements over 500 dispensaries operated in Denver, and following the March 1st deadline only 235 dispensaries met the new standards for license requirements. We believe that competition in the medical marijuana space will continue to fade as new standards are required. Only well managed, professionally run companies will be able to meet these increasingly difficult requirements."
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, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
SOURCE International Merchant Advisors, Inc.
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