Cannabis Sativa, Inc. (CBDS) Acquires Majority Stake in Contract Manufacturing Company GK Manufacturing
February 20, 2020 at 08:04 AM EST
Cannabis Sativa Acquires Majority Stake in Contract Manufacturing Company GK ManufacturingCannabis Sativa, Inc. (OTCQB:CBDS) announced today that it has acquired a 51% interest in GK Manufacturing and Packaging, Inc. (“GK Manufacturing”) in a cash and stock deal.
GK Manufacturing is a newly formed Southern California contract manufacturing, co-packing and white label company, producing a wide range of highest quality, lab-tested CBD products including edibles, tinctures, drinks and topicals. The acquisition includes multiple brands such as the well-established Ganja Juice brand (ganja-juice.com) and the Murray & Rocco’s CBD infused pet line. GK Manufacturing has pending nationwide and global sales contracts with companies in the US, UK, France and Spain. “We are excited to acquire a majority interest in a company that has strong co-packing and white label opportunities in the CBD industry. The multitude of new concepts and brand ideas under development by GK Manufacturing and CBDS will help to drive sales in the coming periods. The acquisition positions the companies in a good place in the booming CBD marketplace” said President David Tobias
GK Manufacturing plans to move into expanded facilities in Los Angeles county in Q2 of 2020. “All indicators show continuing strong growth in the CBD market in 2020 and beyond,” said Tobias. “We look for increased revenues from the co-packing operations in the larger facility, as well as increased market share for the entire GK portfolio and a re-launch of the Cannabis Sativa proprietary brands including “hi”, White Rabbit, Wild Earth Naturals and Virgin Mary Jane”. The Ganja Juice brand, winner of numerous High Times and Cannabis Cup awards, will continue as a main focus.
About Cannabis Sativa, Inc.:
Cannabis Sativa, Inc. (“CBDS”) is engaged in the licensing of cannabis-related intellectual property, marketing and branding for cannabis-based products and services, operation of cannabis-related technology services, and ancillary business activities. CBDS licenses the “hi” and “White Rabbit” brands, holds a U.S. patent on the Ecuadorian Sativa strain of Cannabis, a U.S. Patent for a marijuana lozenge, and operates subsidiaries including: PrestoDoctor® (https://prestodoctor.com), GK Manufacturing and Packaging, Inc. (https://ganja-juice.com/), Wild Earth Naturals® (https://wildearthnaturals.com), and iBudtender (https://ibudtender.com). The Company is the official licensee for Virgin Mary Jane Brand (https://virginmaryjanebrand.com). In addition, CBDS seeks strategic partners for acquisition of operating companies, intellectual property and other assets which fit within the CBDS corporate vision.
This press release contains “forward-looking statements.” Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Underlying assumptions include without limitation, the ongoing enactment of legislation favorable to the production of and the commercialization of cannabis products and the Company’s success in capitalizing on that legislation. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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SOURCE: Cannabis Sativa, Inc.