NEW YORK, April 29, 2004 (PRIMEZONE) -- Amigula Incorporated (Pink Sheets:AMJL) the World's First Publicly traded Medical Marijuana Company announced today that the company convened an extraordinary meeting of the board of directors -- April 28th 2004 -- and passed resolution to increase the authorized shares from 100,000,000 to 1,000,000,000 shares in the State of Colorado. That these actions be prepared and be undertaken in accordance to the rules and regulations of Colorado and in accord with the companies act in Colorado.
The Company is exploring various means of dealing with suspected short selling in the Company shares, including among other things, a forward split of its shares; however no determination has been made.
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 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 $7 billion to $20 billion. If a single company controlled it, it would be larger than Canada's 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 to grow marijuana. 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.