MESQUITE, NV / ACCESSWIRE / June 17, 2021 / Cannabis Sativa, Inc. (OTCQB:CBDS) announces signing a Term Sheet to acquire Stratum Brands, a Los Angeles cannabis product manufacturer with 2020 consolidated revenues of $2.8M and product lines including flower, live resin, diamonds, and shatter distributed to more than 50 California dispensaries. Stratum features Cobra Extracts (https://www.cobraextracts.com), the 2018 High Times Cannabis Cup winner for best vape cartridge, the Freeway Ricky Ross (https://instagram.com/lakingpins) LA Kingpins line of vapes, and social equity partner Sweetz (https://instagram.com/sweetz_ca) tobacco free blunts, as well as Headset, a line of infused beverages produced as a joint venture with H2 Liquid Co. 'Cannabis Sativa has found the right 'touch the plant' partner, said CEO David Tobias, 'Stratum Brands CEO Jason Boze and COO Chirag Sadana have engaged in and managed to thrive amidst California's regulatory changes through skilled management and strong sales since 2015'. Details of the LOI call for issuance of Cannabis Sativa stock valued at $1,715,000 for 49% ownership with an option to increase ownership after completed audit of Stratum's financials. The deal will close pursuant to a successful initial raise of at least $500,000. Stratum CEO Jason Boze stated 'with the enhanced funding capabilities of Cannabis Sativa as a partner, we believe we can greatly scale our manufacturing and distribution footprint through increased brand awareness achieved via strategic marketing initiatives and product development.'
About Cannabis Sativa, Inc.:
Since 2017, Cannabis Sativa, Inc. ('CBDS') has focused on telehealth, and more recently is exploring opportunities for direct involvement in the cannabis industry through touch the plant operations. We currently control 'CTA', or 'Ecuadorian Sativa' a patentedhybrid/landrace cannabis strain, and via a licensing arrangement with a California state permitted grow, commencing research to determine if the 'CTA' strain can yield products with medicinal properties that motivate and energize, rather than create lethargy and sleepiness, attractive to a diverse range of cannabis consumers. We are also interested in acquiring multiple canna-businesses to provide an outlet for several cannabis brands that we own or have rights to use through licensing arrangements, including Wild Earth Naturals®, the 'hi' and 'White Rabbit' brands, and the Virgin Mary Jane Brand. The Company is now looking to redirect its manufacturing capabilities to products containing THC. Our long-term intent is to become a vertically integrated grower, processor, manufacturer and distributor of cannabis products where we can achieve better control over the supply chain and the quality of biomass we use in our products. Our existing telehealth operations provide a market access point that may be advantageous as the cannabis market matures and inter-company competition for customers continues unabated. We are excited about the opportunities and look forward to the challenges ahead.
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.
SOURCE: Cannabis Sativa, Inc.
View source version on accesswire.com: