Medical cannabis-focused Med-X, Inc. has resumed its equity crowdfunding campaign through StartEngine.com in a bid to raise $14.1 million through a minimum $420 per 700 shares.
The manufacturer of non-toxic insecticide and pesticide for marijuana cultivators and publisher of The Marijuana Times relaunched the campaign on Sept. 28, 2017 following the lifting of its Securities and Exchange Commission temporary suspension arising from a late filing last year.
“We have been qualified by the SEC and believe we are in full compliance to resume our Regulation A+ crowdfunding efforts once again,” said Chief Operations Officer Matthew Mills.
Med-X Inc. became the first cannabis company to launch a Regulation A+ equity crowdfunding campaign provided in the 2012 JOBS Act. It is also the first company involved with cannabis that StartEngine allowed to raise capital through its platform.
“They let us jump on their platform, as we agreed not pursue handling the plant until it’s legal to do so,” said Mills.
Mills said FundAmerica is handling the campaign that has raised under $1 million so far.The management team has been diligently working on its business model and continues positioning the company in accordance with its initial plan of operations.
“The primary focus will be on the Nature-Cide product line for natural pest control in cannabis cultivation, along with the continued development of the popular online cannabis industry publication, The Marijuana Times,” according to Mills.
With cities in California and other states legalizing marijuana cultivation and manufacturing, the number of legal indoor pot farms and manufacturing sites for edible products is expected to increase driving demand for improving the quality and safety of local marijuana.
Med-X has begun supplying Nature-Cide Pest Management and All-Purpose formulations to the cannabis agricultural and provisioning industries. It is also preparing for distribution its newly developed Nature-Cide insecticidal soil product for all types cultivators. The formulations are a proprietary all-natural essential oil insecticide/miticide/nematicide that repels and kill a wide variety of pests commonly known to damage cannabis crops.
Nature-Cide products are listed on the “Approved for use in the Cultivation of Marijuana” by the Colorado, Washington and Oregon state Agriculture Departments. The listing is supported by Med-X’s 18-Month Nature-Cide Integrated Pest Management (IPM) for Cannabis Cultivation Report released in March.
“The 18-month report began in 2015 shortly after realizing that the Nature-Cide pesticide products were being recognized by multiple state agricultural departments as a product that is approved for use in medical and recreational marijuana cultivation,” said Mills.
The legal cannabis industry grew 30 percent in 2016 in North America alone to reach to $6.7 billion because of high growth prospects in the U.S. and Canada, data from Arcview Market Research showed. Arcview is projecting a 25 percent annual growth rate with sales in North American reaching $20.2 billion by 2021.
Med-X is in great position to take advantage of the opportunities in the legal cannabis space.
While primarily in the business of research and development of commercial medicinal applications of cannabis, Med-X Inc. plans to address other needs required to support the fast-paced emerging cannabis industry, including compound identification and extraction from cannabis oils, along with pharmacy automation beginning with cannabis products and eventually for various pharmaceuticals.
According to its SEC filings, Med-X Inc. plans to cultivate and sell high-quality cannabis for the consumer and commercial markets in areas where it is legal and when they are fully licensed to do so.
“Due to our management’s hands-on background in the fields of medicine, large-scale cultivation, commercial pest management as well as operations in internet-based wholesale and retail outlets, we feel we have a tremendous advantage, and can use that skill set to climb into a growth position more rapidly than most,” said Mills.
About Med-X, Inc.
Med-X, Inc. is a Nevada corporation formed in February 2014 to support the fast-paced emerging cannabis industry through such activities as compound identification and extraction of the identified cannabidiol (CBD) compound for the present medical industry demand. The company’s digital magazine, The Marijuana Times, publishes quality media content for the medical cannabis community to generate revenue from advertisers as well as sell industry related merchandise to consumers. The company is ready to bring various products to market in the cannabis, agricultural and ancillary services industries through manufacturing partnerships. For more information regarding Med-X, Inc., please visit www.medx-rx.com, email email@example.com call 818-349-2870.