SW China Imports Changes Name: Med-Cannabis Pharma Reflects New Direction
13 June 2014 - 2:05AM
Marketwired
SW China Imports Changes Name: Med-Cannabis Pharma Reflects New
Direction
DALLAS, TX--(Marketwired - Jun 12, 2014) - SW China Imports,
Inc. (OTCBB: SWCI) (OTCQB: SWCI) which is acquiring a medical
cannabis collective in Washington State, has changed its name to
Med-Cannabis Pharma, Inc., CEO Graciela Moreno announced today.
An SEC application to change the company's stock symbol is
pending.
"This is the latest step in refocusing our company," Ms. Moreno
said. "We're very excited about our new direction."
In April, the Dallas-based company announced plans to acquire
Loe & Associates, a Washington State company that owns and
operates a medical cannabis collective in Port Townsend, WA. The
deal is subject to an audit, which is pending.
Med-Cannabis Pharma plans to expand operations in Washington
State, where use of medical marijuana has been legal since 1998,
and possession of up to one ounce of recreational marijuana was
legalized last year. The company has formed a subsidiary to manage
the stores being added in Washington. That company name is
Med-Pharma Management, Ltd.
Ms. Moreno also disclosed that Big Sky Oil has decided to focus
on a project other than SW China and is going to cancel the
restricted common stock it owns in SW China. The 169,000,000 shares
will be returned to the treasury as soon as the name change and
symbol change are effective.
"These moves are aimed at creating value for shareholders," Ms.
Moreno said. "We expect to do a lot of that in the coming
months."
Forward-Looking Statements: This press release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Act of
1934. A statement containing words such as "anticipate," "seek,"
"intend," "believe," "estimate," "expect," "project," "plan," or
similar phrases may be deemed "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Some or all of the events or results anticipated by these
forward-looking statements may not occur. Factors that could cause
or contribute to such differences include the future U.S. and
global economies, the impact of competition, and the Company's
reliance on existing regulations and new regulations. Med-Cannabis
Pharma, Inc., does not undertake any duty nor does it intend to
update the results of these forward-looking statements.
Contact: SW China Imports, Inc. Graciela Moreno 214-666-8364
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