LAS VEGAS, NV -- (Marketwired) -- 08/07/13 -- Refill Energy, Inc. (PINKSHEETS: REFG), a Nevada Corporation (the "Company") announces the merger between Refill Energy, Inc. and Medical Cannabis Financial Group. Refill Energy, Inc. completed a reorganization with Medical Cannabis Financial Group, Inc., which is a software solutions company focused on solutions for the Medical Marijuana industry. The resulting company, Medical Cannabis Financial Group, Inc., will be headed by Chief Executive Officer, Jeremy Roberts, and will continue its software development business under the leadership of its current management. In completing the Merger, former management cancelled its 312,500,000 of its common shares of stock.
Medical Cannabis Financial Group intends to spin off Refill Energy, Inc. from Medical Cannabis Financial Group's software and payment solution business in a transaction that will result in two independent and highly focused companies.
The spin off will be completed through a stock dividend to all existing shareholders of Refill Energy, Inc. Subject to all regulatory approvals, shareholders will own one share of the new holding company, Medical Cannabis, and will receive one share in the spin off of Refill Energy, Inc.
Jeremy Roberts said, "The software development and energy development businesses have very different strategic goals, key performance indicators and shareholder expectations. Because of the synergies between these businesses is limited, we concluded that separating them at this time would result in greater transparency for our shareholders and allow the businesses to compete more effectively in their respective markets."
This press release may contain certain forward-looking statements and information, as defined 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 uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
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