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Business Summary: Medcann Industries, Inc. is a conglomerate company of private entities planning growth through future mergers, acquisitions, and joint ventures. The Company has trademarks and real property in retail and continues to pursue resources on all levels as well as having different divisions in the beverage, health, medicinal and nutraceuticals. It has acquired Medical Cannabis Inc. (MCI), a cannabis cultivating company with a beverage manufacturer and distribution subsidiary focusing on the medical, health and wellness industries. MCI is operating under its temporary micro license and plans to acquire licensed companies in the medical cannabis arena. MCI's division 420 beverage's, plans are to cultivate, research and manufacture cannabidiol (CBD) and tetrahydrocannabinol (THC) beer and beverage products in the medical marijuana industry that improve health and wellness.
Financial Summary: BRIEF: For the fiscal year ended 30 April 2019, Medcann Industries Inc revenues was not reported. Net loss totaled $47K vs. income of $558K. Net loss reflects Rental increase from $6K to $23K (expense), Interest Exp-Net of Capitalized Interest increase from $0K to $6K (expense), Website, communications increase from $1K to $1K (expense).