GEORGETOWN, SC -- (Marketwired) -- 02/26/14 -- Aventura Equities, Inc.'s (OTC Pink: AVNE) board of directors have signed a definitive agreement to acquire all of the outstanding stock of Aventura Laboratories, Inc. from iEquity, Corp. as part of a share exchange agreement.
"As previously stated, the board of directors announced an aggressive direction that the Company was going to take concerning business opportunities, joint ventures or acquisitions," stated Mr. Richard Armstrong, Chief Executive Officer and director of the Company. "We believe that our loyal shareholders will now have an opportunity to participate in an industry sector that will reward their patience," Mr. Armstrong added.
The definitive agreement calls for some "closing documents" to be delivered by both parties which the Company expects to be complete over the next 30 days.
About Aventura Laboratories, Inc.
Aventura Laboratories, Inc. holds cannabis-related intellectual property and licensing rights to a number of products currently sold by third parties in the California medical marijuana market. The licenses that Aventura Laboratories currently holds include; Dharmanol, Yak Capsules, Yeti Honeybud Oilers, Organakoil, Red Diamond Oil, and other products, trademarks, formulations, and trade secrets that are licensed to SK3 Group's wholesale managed collectives.
In addition, Adventura Laboratories holds the intellectual property resulting from research conducted by Berkeley Bio Organic Research Laboratory. Current and continuing research includes research into mixed phyto-cannabinoid carboxylates, decarboxylation processes, and cannabidiol (CBD) extraction methods.
About iEquity Corp.
iEquity, Corp creates, acquires and develops companies and projects in the medical cannabis space. Currently, iEquity Corp holds controlling interest and retains intellectual properties and contracts in several medical marijuana companies and related projects. More information is available at: www.iequitycorp.com
Disclaimer: Forward Looking Statements
This release contains statements relating to future results which are forward-looking statements. These statements are not historical facts and are not guaranteed, but instead represent only the good faith belief of AVNE management as of the date of this release. Future events are by their nature inherently uncertain and outside of AVNE's control. It is possible that AVNE's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions of securities laws in force as of the date of this release. AVNE does do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.