International Cannabrands Closes On a Strategic Investment In Riotus LLC
Calgary, Alberta (FSCwire) - International Cannabrands Inc. (CSE:JUJU.A) (the “Company”) is pleased to announce that it is closing on its strategic investment in Riotus SODO LLC, an operating unit of Riotus LLC (“Riotus”). Riotus provides its investors with an opportunity to capture value from facility and operations expansion, financing and consulting to the cannabis industry. Riotus has strategic relationships in a number of important markets.
The Company has chosen to invest US$600,000 to acquire 25% of Riotus SODO LLC, a limited liability company formed under the laws of Delaware. Riotus SODO has partnered with Solstice Holdings Inc., a leading brand and distribution company in Washington State.
Steve Gormley, President and CEO commented: “International Cannabrands is very pleased and excited to have to completed this investment. Riotus is expected to provide us with a number of very important things – strong accretive near term cash flow, a valuable platform for expansion of cash flow going forward and access to a highly respected producer and distributor for our products with an impeccable reputation. As stated previously, we anticipate cash flow from this investment beginning in second quarter 2019.”
Jeffrey Britz, Chairman added: “Our recently announced strategy of acquiring and partnering with emerging brands, distribution companies and profitable manufacturers, we believe, will build one of the leading, next generation cannabis companies worldwide. We welcome Riotus to the JuJu family and look forward to additional opportunities to work together.”
About International Cannabrands (ICI)
ICI acquired the exclusive rights to Julian Marley's JuJu Royal™ brand. ICI currently generates revenue from licensing brands to growers, edible manufacturers, oil extractors, producers of ancillary products and apparel in the United States where cannabis has been legalized at the state level, as well as products containing CBD in the US and internationally. ICI intends on acquiring micro brands with highly profitable operations in the cannabis space. The Company believes as the market becomes saturated with products varying in potency and quality, that the branded products will rise to the top and the Company intends to exploit all opportunities available to realize the full value of the Julian Marley brand and other brands.
About JuJu Royal
Julian Marley conveys his message of legalization, freedom, and love through the JuJu Royal brand, a line of naturally produced medicinal herbs using the best solventless technology. One percent of proceeds are distributed for the benefit of veterans using cannabis through the Weed for Warriors Project. More information about the brand and various products can be obtained at www.jujuroyal.net. International Cannabrands Ltd is continuing to work with Julian Marley to identify and develop future strains of marijuana that meet Julian’s exacting standards. The Company is continuing to conduct research and development with certain origin genetics to produce additional signature Julian Marley strains for the JuJu Royal Premium Marijuana collection. The intent is to make these strains available to dispensaries and caregivers on a worldwide basis where it is legal.
International Cannabrands Contact:
Steve Gormley CFN Media Contact:
Chief Executive Officer Frank Lane (206) 369-7050
1045 Lincoln Street, #106 firstname.lastname@example.org
Denver, Colorado 80203
Ph (323) 828-4321 or email@example.com
Media Inquiries: firstname.lastname@example.org
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release contains forward-looking statements relating the expected benefits from the investment in Riotus. These forward looking statements involve risks and uncertainties. Events or circumstances may cause actual results to differ materially from those anticipated as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company or the parties to the agreement. These include legal and regulatory changes, the impact of general economic, industry and market conditions; expectations regarding market demand for particular products, the dependence on new product development; and the impact of product competition. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Management of the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a
Source: International Cannabrands Inc. (CSE:JUJU.A, OTC Bulletin Board:GEATF)
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