Terme Bancorp Announces Plans to Enter the Medical Marijuana Market through New Subsidiary - WICU12 HD WSEE Erie, PA News, Sports, Weather and Events

Terme Bancorp Announces Plans to Enter the Medical Marijuana Market through New Subsidiary

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Company Forms Terme Medical Ventures to Focus on the Medical Marijuana and Clinical Device Markets as well as Solutions for Infectious Disease Treatments  

SUMMIT, IL / ACCESSWIRE / May 7, 2014 / Terme Bancorp (OTC: TMEB), a holding company specializing in money services and consumer behavior initiatives, today announced the establishment of Terme Medical Ventures, Inc., a wholly-owned subsidiary whose mission is to invest in various consumer-oriented medical initiatives. 

Terme’s new subsidiary plans to initially target three specific market segments: medical marijuana, clinical medical devices and solutions for the treatment of infectious diseases. Terme Medical Venture’s primary focus will be to provide leading technology used to grow and distribute medical marijuana and related services while forming lucrative partnerships in this rapidly growing industry. All initiatives in this area will adhere to regulatory directives and compliance with State, Federal and International authorities.

Additionally, the Company’s management has relationships that will allow Terme Medical Ventures to enter the medical device space. Terme plans to develop or license clinical device technology that will enable individuals to monitor and improve their overall health. Thirdly, the Company’s new subsidiary intends to form strategic partnerships and relationships with global entities to meet the global demand for treatments and cures for infectious diseases. 

“The Company plans to enter the medical marijuana industry which is currently one of the fastest growing markets and will be for the foreseeable future. The establishment of Terme Medical Ventures will serve as an integral part of the Company’s money services and consumer behavior initiatives, both which serve as the foundation of our business,” commented John G. Yedinak, CEO of Terme Bancorp.

“Through Terme’s current relationships, we also see tremendous growth opportunities for the Company in the medical device and infectious disease markets. Moving forward, we will continue to explore and expand our business into profitable areas of the medical industry that will increase revenues and shareholder value as well as support the Company’s core initiatives,” concluded Mr. Yedinak.

About Terme Bancorp. 

Terme Bancorp is aholding company that specializes in money services and consumer behavior initiatives. The Company currently has three subsidiary companies, Terme Capital, Inc., Terme Mortgage, Inc. and Terme Medical Ventures, Inc. For more information please visit: www.termebancorp.com.

Safe Harbor Statement

This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

888-959-7095

ir@sealpointconsulting.com

 

SOURCE: Terme Bancorp 

ReleaseID: 415345

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