UPDATED: ID Global Corporation Signs Letter of Intent With Established Medical Marijuana Grower
25 July 2014 - 6:29AM
ID Global Corp. (OTC:IDGC) is pleased to provide an update pursuant
to the execution of the LOI announced on July 23, 2014.
The letter of intent is at least partially binding and subject
to due-diligence. However, the following covenants are binding
legal obligations and are not subject to due diligence:
- $20,000 Deposit to be provided by IDGC for a 5-acre parcel of
land with plans to construct a 20,000 sq. ft. facility.
- IDGC shall have access to, and have an unrestricted right to
use otherwise confidential information of this established Medical
Marijuana grower in Vancouver BC, Canada, consisting of
intellectual property rights, related to but not limited to the
growing of marijuana in a highly efficacious manner, as illustrated
in its current business plan and to be further developed by IDGC,
coupled with the potential filing of an S-1 for this marijuana
grower.
Accordingly, while we believe there are many reasons that
transaction will be consummated, even though the document is
captioned as a letter of intent, IDGC retains valuable rights even
if a transaction is not consummated. Accordingly, the expenditure
of the $20,000 nonrefundable amount enables IDGC to continue its
quest to profitably pursue the medical marijuana business.
Nonetheless, investors are cautioned that IDGC has not yet entered
this business.
About ID Global Corporation
ID Global Corporation (IDGC) is a diversified holdings company
with a focus on emerging and middle market investment opportunities
in North America. IDGC seeks, through debt and equity investments,
minority positions as well controlling interests in established
companies and special situation start-ups.
Forward-Looking Statements
This press release contains statements which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of ID Global Corporation and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. The company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.
CONTACT: ID Global Corporation
Attn: Sebastien DuFort
230 W. Monroe St., Ste. 310
Chicago, Illinois 60606
6305323625
Sdufort68@gmail.com
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