On Wednesday, online media platform Med-X, Inc. (Med-X) announced the launch of an equity crowdfunding initiative on StartEngine as the next phase in the company’s fundraising strategy.
The company announced late last month that it had been qualified by the United States Securities and Exchange Commission (SEC) to sell shares to the general public through the Regulation A+ equity crowdfunding initiative, making Med-X the first company in the cannabis industry to be qualified by the SEC for a public offering under these rules. The company will be offering anyone interested in embracing the rapidly emerging cannabis industry, expected to yield billions annually, the chance to reserve shares early.
Med-X’s mission is to expand the medical and recreational cannabis industry by educating the community and developing products that are safe, effective and affordable. The company’s relationships in the medical and biochemistry fields give it the ability to position itself as a long-term player in the industry. Dr. David Toomey, CEO of Med-X, stated:
“We are offering this chance to reserve shares through an equity crowdfunding campaign to give all Americans the chance to be a part of a positive phase in the rapidly evolving cannabis industry. We see tremendous growth potential for the industry at large with both medical and recreational users, as well as a tremendous need for products that the public can trust not to be contaminated with pesticides, mold, or other problematic substances.”
In February 2015, Med-X opened its first patient cooperative to cultivate 100% natural and organically grown medical cannabis for its research and development program. Med-X’s management team recognized a huge need to bring safe, medical-grade cannabis to the medical community that is free of pesticides, mold and other harmful substances.
Medical cannabis dispensaries in California remain unregulated for the most part, despite cannabis’ use as a holistic alternative to pharmaceutical drugs. As more states legalize medical and recreational cannabis, cultivation centers are likely to face mandated product testing for potency and contaminants and, as a result, many will subsequently be forced to close if they aren’t complying.
Med-X’s Nature-Cide product was created to solve the pesticide problem with all natural green solutions and is one of the first to market. Nature-Cide All Purpose Insecticide has been tested safe for cannabis cultivation, is EPA Registered nationally with the states which require registration and has been approved by the Colorado Department of Agriculture for use in cannabis cultivation.
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