NEW YORK, April 14, 2004 (PRIMEZONE) -- Amigula Incorporated (the "Company," "Amigula" or "AMJL") -- The Worlds First Publicly Traded Marijuana Company: "Preliminary reports indicate that some of the molecular structure (cannabides) in marijuana may be effective for a number of conditions including treatment for glaucoma and certain eye conditions," stated Warren B. Eugene President of Amigula.
Amigula understands and recognizes that approximately 28 million Americans over age 40 have eye ailments which put them at risk for the loss of vision and perhaps blindness. There are researchers which have commented and warned that the numbers may surge as the population ages. Cataracts are one of the leading causes of blindness worldwide and affect an estimated 20.5 million American adults. That number is expected to climb to 30.1 million over the next 20 years, according to researchers. Macular degeneration, glaucoma and diabetic retinopathy are all strongly linked with the aging process.
"Amigula intends to support and sponsor clinical trials in these areas," states Hilton Peter Mijovick, Amigula's treasurer. "These statistics may be supported in findings from the Archives of Ophthalmology -- the National Eye Institute. More than $3 billion (US) yearly is spent on cataract treatment alone, which usually involves surgery; we would like to see medical marijuana drops prescribed more often," comments Mijovick. Treatments include lasers or laser-activated drugs, and recent studies have shown that high doses of antioxidant vitamins can help slow or even prevent vision loss in macular degeneration. We intend to support research in this area specifically. Glaucoma affects about 2.2 million US adults. It usually involves a buildup of fluid that normally bathes the eye, causing pressure that damages the optic nerve. Treatment may include medical marijuana therapies eye drops and or surgery. Diabetic retinopathy, which involves eye damage resulting from blood vessels weakened by diabetes, affects about four million American adults. Laser therapy, surgery and better control of diabetes are among the treatments.
About Amigula Inc.
Amigula Inc. (www.Amigula.com) has recently completed the purchase of 51% of Medical Cannabis Inc. and has announced their plans to file as a reporting issuer. The company plans to list on a major exchange beginning with an application for a listing on the American Stock Exchange (AMEX) or Nasdaq as well as several European exchanges. The company views the current prohibition of marijuana as similar to that of alcohol, beer and tobacco. Canada's marijuana crop alone is estimated at $4 billion to $7 billion. If a single company controlled it, it would be larger than Canada's oil and gas business and agricultural industries. On October 7, 2003 the Ontario Superior Court ruled that business and individuals be allowed to grow and supply medical marijuana, effectively relieving the Canadian government of its often criticized and fairly unsuccessful attempts. Health Canada "permitted persons" (exemptees) can now pay Amigula to grow marijuana for them. The ruling makes it easier for sick people to get marijuana by allowing them easier access -- more choice and fair prices. The company has a mandate to develop and improve the medical marijuana business worldwide and is on the acquisition and consolidation trail of other legal licensed marijuana operations with notable international brands.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.