RALEIGH, N.C., Jan. 22, 2015 (GLOBE NEWSWIRE) -- Icon Media Holdings, Inc. (OTC:ICNM) announced today that the Company will discontinue the development of websites for the medical marijuana sector (MMJ) and is looking for a buyer for the domains it previously agreed to acquire. The test project didn't fit ICNM's growth plans.
"After further due diligence we decided it is not in the best interest of the Company's shareholders to pursue developing websites in the MMJ sector," said Jerry Brown, Icon's president. "We will laser focus our resources in the exciting Wireless Industry and grow Spectrum Velocity, our Wireless Infrastructure Services business."
About Icon Media Holdings, Inc. (ICNM)
Icon Media Holdings, Inc. is a diversified global technology company. The Company currently owns and/or operates e-commerce websites and sells on storefronts such as Amazon, Amazon UK and eBay, among others. The Company also offers fulfillment services, merchant processing and select financial products to other e-commerce businesses. Spectrum Velocity® provides engineering and technical consulting for the wireless industry.
Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.