CBDS to Pay Dividend of 4 Shares of Kush Stock for Each Share of CBDS Stock Held
July 21, 2015 at 07:00 AM EDT
MESQUITE, NV / ACCESSWIRE / July 21, 2015 / Cannabis Sativa, Inc. (OTCQB:CBDS) (referred to collectively with its subsidiaries as "CBDS" or the "Company"), management clarifies what the spin-off means for CBDS shareholders: "In summary, all CBDS shareholders will receive KUSH shares in addition to the CBDS shares they already own," stated Cannabis Sativa, Inc. CEO Gary Johnson. "It is anticipated at this time that each current shareholder of CBDS will receive as a dividend on its CBDS common stock, approximately four shares of KUSH (the "Public KUSH Stock") for each share of CBDS stock held on the Record Date."
KUSH will become a free standing public company whose common shares will be quoted on the OTCQB. Nine percent of Kush will be retained by CBDS and CBDS will take direct possession of the assets CBDS currently has through agreements with KUSH and KPAL.
The spinoff also results in CBDS shareholders getting rid of a $3,000,000 debt that the Company incurred for buying the rights to Steve Kubby's individually owned proprietary intellectual property and genetics.
Cannabis Sativa, Inc. is in the business of branding and licensing via its 'hi' intellectual properties . The Company also offers the Wild Earth Naturals line of cosmetic products which are designed to use organic and natural ingredients, including hemp seed oil. The Company is engaged through its subsidiary, Kush, in the research, development and licensing of specialized natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems.
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. 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.
SOURCE: Cannabis Sativa, Inc.