Cameo Resources Signs LOI With iWeedz.com Marijuana Application
VANCOUVER, British Columbia, Nov. 16, 2016 (GLOBE NEWSWIRE) — Cameo Resources Corp. (TSX-V:CRU) (OTCPK:SIDNF) (the “Company”) is pleased to announce that the company has signed a Letter of Intent with iWeedz.com of Henderson, Nevada.
iWeedz.com is a technology platform that connects consumers with cannabis vendors and promotes local marijuana commerce. The Company will operate its technology platform through its website located at www.iWeedz.com and through its mobile application for Apple iPhone operating system (iOS) and Android operating systems. Consumers wishing to use iWeedz must create an account with iWeedz. Once an account is created, the member will be able to use iWeedz to locate local cannabis dispensaries to shop for cannabis products and to communicate with the dispensaries. As the member uses the iWeedz Website and application, the iWeedz technology will gather specific information about the member by tracking accessed content, liked items, purchased items and the member’s profile. iWeedz will then use this information to match the member with the right cannabis vendor or to find deals that may be of interest to the member.
The signed letter of intent is for exchange of information with iWeedz.com. There is no definitive agreement signed and no compensation terms are stated in the letter. The letter is to ensure that confidentiality is maintained as Cameo continues to discuss future business opportunities with iWeedz.com.
“Recreational marijuana is now legal in California — and that’s a game changer for public health. Though 25 other states have already legalized weed for medicinal purposes and four for recreational purposes, the size and population of California puts its decision in a different league and it could lead the way to figuring out policy around the drug. Current projections have Maine, Nevada, and Massachusetts voting to legalize recreational marijuana, while Arizona voted against legalizing recreational pot.
Medical marijuana was also on the ballot for several states. Current projections have North Dakota, Montana, Arkansas and Florida all expected to approve medical marijuana.”
– The Verge
Akash Patel, president of Cameo, remarks that: “Signing of this LOI does not shift the company’s focus on its ongoing commitment to mineral exploration. However, we expect to complete our due diligence within the next 45 days and update our shareholders along the way.”
ON BEHALF OF THE BOARD
Akash Patel, President
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