IRVINE, Calif., May 7, 2014 /PRNewswire/ -- The CannaBusiness Group, Inc. (OTC: CBGI). Today the Securities and Exchange Commission temporarily stopped trading in the Company's common stock. The SEC's reason for the stop trading order was that "It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of CannaBusiness Group, Inc. because of questions regarding the accuracy of publicly available information about the company's operations."
Michael Cummings, CEO stated "the SEC did not notify CBGI of the Trading Suspension nor the reason behind the suspension, we are in the process of researching this issue and will answer all questions to the best of our ability that the SEC has. Also, during the suspension we will continue to operate our company along with our subsidiaries as usual."
The trading Suspension is through May 20, 2014 at 11:59PM EDT and trading will proceed as normal. We apologize to all of our shareholders for this unfortunate event and will try to resolve it ASAP. We know that shareholders would like to have their questions answered and our phones have been busy all day, however we have no other information than this right now and will update the public as we can.
About The CannaBusiness Group, Inc.
The CannaBusiness Group Inc. ("CBGI") founded in 1985 and is headquartered in Irvine, California we are a publicly held company vested as a strategic real estate acquisition, leasing, and management firm whose primary focus is on zoning issues. We acquire commercial property or land, and lease out the facilities for Agricultural, Industrial, Commercial and Retail, whether small or large scale clients.
The CannaBusiness Group, Inc. manages a portfolio of properties that it acquires and leases. We provide oversight on each and every property we manage. This can include complete architectural design and subsequent build-outs, general support, landscaping, general up-keep, and state of the art security systems.
CBGI developed an acquisition plan to acquire companies that sell products and services to include Security Services, E-Commerce Store Fronts for both Grow and Dispensary operations; Technology Solutions; Software Solutions; and miscellaneous solutions.
Any and all acquisitions will be spun off into their own publicly traded company in the future, or may be acquired or merged into another 3rd party company. Once, CBGI and subsidiary management agree that a company is ready to go public, merge or be acquired our group of professionals will start working on the best option for that company.
The CannaBusiness Group, Inc. adheres to all federal laws and does not sell marijuana at any dispensaries and/or a grow operations.
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FORWARD-LOOKING STATEMENT AND DISCLOSURE: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the continuation of recent growth rates in the industry; the positioning of The CannaBusiness Group[SM], Inc. in the market; ability to integrate acquired properties and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether The CannaBusiness Group [SM], Inc. can successfully execute their business plan. Actual results may differ materially from those contained in the forward-looking statements in this press release.
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