NEW YORK, March 25, 2004 (PRIMEZONE) -- Amigula Incorporated (Pink Sheets:AMJL) -- the World's First Publicly traded Marijuana Company -- today announced that the company will address the short interest in their stock. Based upon review of stock transfer records and the activity in the market, the company believes naked short sellers are involved in the stock. Amigula today announces contemplating a forward split of the stock to combat the short sellers that are adversely affecting the market. This would force delivery of all certificates. The company's shares are not DTC eligible. The short sellers were expected to cease their activities in February 2004, instead it was delayed until April 1, 2004.
Warren Eugene, President, states, "These people are nasty and an unnecessary evil in the marketplace. It is about time they are removed from the process."
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.