COSTA MESA, Calif., Oct. 26, 2010 (GLOBE NEWSWIRE) -- LC Luxuries Limited (Pink Sheets:LLUX) (the "Company") today announced that it has commenced the process to change the Company name from LC Luxuries Limited to General Cannabis, Inc. The Company anticipates the name change to be completed by year end 2010.
James Pakulis, President of LC Luxuries Limited states: "We feel the name General Cannabis more clearly defines our involvement in the cannabis industry. General Cannabis encompasses the divisions that we have or anticipate rolling out such as internet, merchant, medical marketing or management."
About LC Luxuries Limited (Pink Sheets:LLUX)
LC Luxuries Limited (Pink Sheets:LLUX), a Nevada based company with headquarters in Newport Beach, California, continues to operate its historical merchant processing business that was started as a complement to its online makeup business. The Company is also pursuing complementary lines of business through its new subsidiary.
About U.S. Cannabis, Inc.
U.S. Cannabis, Inc., a wholly-owned subsidiary of LC Luxuries Limited, is committed to the management of medical clinics for the lawful diagnosis and treatment of patients that may derive benefit from medical marijuana treatments.
About The Equities Group, Inc.
The Global Online Investment Community ... The Equities Group, Inc. (herein "TEG") is a global financial media network which owns and operates our branded specialty divisions, such as www.equities.com and www.worldmarketmedia.com, and manages our strategic network partnerships. TEG is expanding our interlinking portfolio of web properties to create a social network that bridges the world's financial markets and investment communities. Collectively our sites provide a unique array of news and data on the world's capital markets and economies.
The TEG team provides interactive advertising, digital IR/PR, journalism, market intelligence, media/marketing, news dissemination, research, video production and ancillary specialty communications services to publicly traded companies worldwide.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). LC Luxuries Limited cautions that statements made in this news release relating to the change of control and new business direction constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. LC Luxuries Limited undertakes no obligation to revise these statements following the date of this news release.