Medican Enterprises Inc. (OTC:MDCN) Acquires A Stake in Real Estate Powerhouse, Equity Apple Inc.
LOS ANGELES, Aug. 24, 2021 /PRNewswire/ -- Medican Enterprises Inc. is pleased to announce that it has acquired a stake in real estate powerhouse, Equity Apple Inc. ("EA"). EA originates, invests in and manages a diversified portfolio of commercial real estate properties, joint venture equity investments, and other real estate related assets that are compelling from a risk-return perspective, particularly with a focus on multifamily rental units and office buildings located in "qualified opportunity zones", as designated by the 2017 H.R. 1, known as the Tax Cuts and Jobs Act.
EA owns and operates an online investment platform, www.EquityApple.com, that allows investors to become equity or debt holders in real estate opportunities that may have been historically difficult to access for some investors. Through the use of the EA Platform, investors can browse and screen real estate investments, view details of an investment and sign legal documents. The platform is similar to that of other highly successful REITs such as Realty Mogul and Fundrise.
Through EA's network of power brokers and family wealth REITs, EA is acquiring commercial and residential investments nationwide allowing accredited investors the opportunity to take equity in the best among the best.
Xavier Mitchell, CEO of Medican Enterprises Inc., states, "Equity Apple functions as a REIT which is how we would like to eventually be structured. In the interim, EA will be investing in many of our real estate projects in exchange for equity or debt. Terms will be clearly outlined on a case by case basis." He continues, "this acquisition provides synergy to our operations by not only strengthening our balance sheet with a real estate asset, but by providing capital to our projects via accredited investors placing funds with EA to subsequently invest in our real estate. Furthermore, it allows us access to capital with which to acquire larger projects which may have been previously outside of our sweet spot."
Naturally, with this acquisition, Immediate Properties, a wholly owned subsidiary of Medican Enterprises Inc., will be able to fund its various projects in an expeditious manner. As a result, exit strategies are executed much faster. Immediate Properties continues exploring projects in 3D printing and commercial as well as multi family and master plan developments of 20 homes and more.
Updates will be forthcoming
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and jut uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medican Enterprises, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Medican Enterprises, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
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SOURCE Medican Enterprises Inc.
