International Cannabrands Inc (OTCMKTS:GEATF) has today made a statement disclosing details regarding its entry into a definitive agreement. It is a move that will see it acquire 51% of La Vida Verde. Several market analysts see the company’s move to acquire its equity interest in LVV as a progressive one terming the associated US$6 million figure a reasonable one. In line with the working capital, the business guru has committed an additional US$2 million in the hope that the business will thrive.
An outlook into the matter
The acquisition will be completed in a short while, an undertaking that will be preceded by some two significant closing events. An official working with the company says that they will be paying S$1 million in the acquisition of an 8.5% equity interest. In April the following year, this company will make a US$700,000 investment.
Over the years that La Vida Verde has been in existence, it has managed to make itself a name as a respected company with the ability to manufacture topnotch branded cannabis products. Organic LVV edibles, Skunk Feather concentrates and a wide range of other cannabis products happen to be a part of this company’s family of brands.
Eric Hara and Bryce Berryessa are the two big names behind the establishment of La Vida Verde. The two have been veterans in the diverse California cannabis industry. It is expected that the working capital will be sufficient in facilitating the expansion of both the operations staff and sales. A target has been set to ensure rapid manufacturing operations.
International Cannabrands CEO Steve Gormley in making a statement outlined that he was quite impressed that they had managed to complete the agreement and that they would soon be making investments in La Vida Verde. He thinks quite highly about LVV and emphasizes the great need to co-operate with ideal partners.
It is quite clear that the Technology Industry and the Cannabis Markets are with the passage of time getting closer and closer. The legal cannabis prohibition is no longer at the point it used to be sometime back. In fact, it has lessened quite a huge deal as people take advantage of the products for their well being.