iMD Companies, Inc. (OTC Pink: ICBU) operates as a diversified holding company operating across hydroponics, hemp-based products, and mining. Shares of the diversified holding company are soaring 50%, through afternoon trading on Thursday, April 19, 2018. Over the past month, iMD Companies, Inc. has seen average daily volume of 15.8 million shares. However, volume of 174.21 million shares or dollar volume of $104,526, has already exchanged hands on the day.
Shares of iMD Companies, Inc. are surging today after the company announced that it has completed the acquisition of LCG Plastech, an India-based PVC pipe manufacturer. The company also owns and operates its own manufacturing plant in Orissa, India. LCG Plastech is fully-audited company with “revenues in the millions.” Managements sees great synergistic capabilities with the integration of the new manufacturer. Here is the full press release detailing of the completed acquisition:
iMD Companies, Inc. Press Release:
PLACERVILLE, CA, April 19, 2018 /PRNewswire/ – iMD Companies, Inc. (OTC:ICBU) Board of Directors announced today that the company has completed the acquisition of LCG Plastech as a wholly owned subsidiary of the company. LCG Plastech is an audited PVC Pipe manufacturing company and owns a manufacturing plant in Orissa, India. LCG is a great compliment to iMD’s other companies and has revenues in the millions. The company has been an acquisition target of the company for several months due to their PVC pipe product line and contractual partnerships.
Mr. Ranjit Pattnaik, Managing Director of LCG Stated, “We are excited to form this partnership with iMD Companies Inc. We feel that being part of a public company like iMD will give us more exposure and will also give us more visibility for business expansion with the other mining companies that iMD owns. We look forward to working with the iMD team and feel that we can greatly benefit each other in our desire to grow both companies’ revenues and profits.”
About iMD Companies, Inc. www.imdcompaniesinc.com
IMD Companies, Inc., (ICBU) is a Florida corporation, engaged in the manufacturing, extraction and distribution in mining and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the mining industries. The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. ICBU’s goal is to create and increase shareholder value by tactically growing our business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements.
