Infinity Minerals Corp signs Amended Letter of Intent
14.07.2014 | FSCwire
Vancouver, British Columbia (FSCwire) - Infinity Minerals Corp (CSE:IFN) announced today that it has amended its previously announced Letter of Intent (“LOI”) to acquire 100% of the outstanding shares of The Herbal Clone Bank Inc. (“THC Bank”), a private Medical Marihuana services company based in the Okanagan Valley of British Columbia.The LOI amends the date by which the parties will conclude the execution of a definitive agreement (“the Transaction”) to July 31, 2014 or such later date as may be mutually agreed upon by the parties.The closing of the Transaction will be subject to a number of other conditions including receipt of all necessary shareholder, regulatory and stock exchange approvals.
The Company also announces that it has granted a total of 100,000 incentive stock options to a consultant which allows for the exercise of the options at a price of $0.40 up until expiry on July 11, 2017.
About The Herbal Clone Bank Inc.
THC Bank, based in Kelowna, B.C., provides a full range of services to licensed producers (LPs) in the medicinal marihuana sector, with the goal of enhancing profit margins and the LP's bottom line. Specific services provided include propagation, direct cultivation and sale of purebred cultivars; cloning; and marihuana strain storage.
About Advanced Greenhouse Technologies
AGT is a wholly owned subsidiary of The Herbal Clone Bank Inc. of Kelowna, BC. AGT is a progressive company focusing on modernizing the production of medicinal marihuana. The founder, Barry Kuypers, is a 40-year veteran horticulturist, with the vision of supplying automated, turnkey growing environments. AGT designs, constructs and implements greenhouses for the rapidly growing medicinal marihuana industry. AGT recently announced a 40,000 sq. foot greenhouse sale valued in excess of $1million and that it has quoted over 1 million square feet. (news release June 12, 2014)
On behalf of the Board of Directors,
“Ron Shenton”
Ron Shenton, President and CEO
DISCLAIMER
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Infinity’s control. Some of these risks and uncertainties may be described in Infinity’s corporate filings (posted at www.sedar.com).
Infinity has no intention or obligation to update or revise any forward looking statements due to new information or events.