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Cannabis Sativa Announces a Letter of Intent to Merge with MJ Harvest, Inc.

Cannabis Sativa Announces a Letter of Intent to Merge with MJ Harvest, Inc.

大麻萨蒂瓦宣布与MJ嘉实公司合并的意向书。
Accesswire ·  2022/05/11 20:59

MESQUITE, NV / ACCESSWIRE / May 11, 2022 / Cannabis Sativa Inc. ("CBDS")(OTCQB:CBDS) announced that it has signed a Letter of Intent ("LOI") to merge with MJ Harvest, Inc. ("MJHI").

内华达州梅斯奎特/ACCESSWIRE/2022年5月11日/大麻萨蒂瓦公司(CBDS)(场外交易市场代码:CBDS)宣布,它已经签署了与MJ嘉实公司(MJHI)合并的意向书(LOI)。

The merger, if consummated, represents a shift in the operations of CBDS from its current telehealth business toward a focus on the vertically integrated cannabis business being developed by MJHI. MJHI currently operates an extraction and consumable products manufacturing business in Denver, Colorado and expects to close on an extraction and manufacturing facility in Cathedral City, California before the end of the month. Both the Denver and Cathedral City locations include cannabis licenses for manufacturing and distribution operations, and the licenses will be transferred to the surviving company or a subsidiary upon approval of the licensing authorities. MJHI also has a 25% ownership interest in PPK Investment Group, Inc. ("PPK") which operates under the Country Cannabis Brand in the states of Oklahoma, South Dakota and Arizona and is in the process of opening manufacturing facilities in New York and Florida.

如果完成合并,CBDS的业务将从目前的远程医疗业务转向MJHI正在开发的垂直整合的大麻业务。三菱重工目前在科罗拉多州丹佛市经营着一家提取和消费品制造业务,并预计在本月底之前关闭位于加利福尼亚州大教堂城的一家提取和制造工厂。丹佛和大教堂城的地点都包括制造和分销业务的大麻许可证,许可证将在获得许可当局批准后转让给幸存的公司或子公司。三菱重工还拥有PPK投资集团公司(“PPK”)25%的股权,该公司以Country Cannabis品牌在俄克拉何马州、南达科他州和亚利桑那州运营,并正在纽约和佛罗里达州开设制造工厂。

The combined business following the merger will have operations in seven states, and a comprehensive product line that includes the Country Cannabis Brand plus licensing arrangements for the Weedsy, BLVK, Chronic, and Sublime Brands. MJHI holds 10% investments in WDSY, LLC and Blip Holdings, LLC, the companies that own the Weedsy and BLVK brands, respectively. MJHI's current product offerings and Brands represented are reflected on the MJHI web site at .

合并后的合并业务将在7个州开展业务,以及一个全面的产品线,其中包括Country Cannabis Brand以及Weedsy、BLVK、Chronic和Sublime Brands的许可安排。三菱重工持有WDSY、LLC和Bip Holdings LLC 10%的股份,这两家公司分别拥有Weedsy和BLVK品牌。MJHI目前提供的产品和所代表的品牌反映在MJHI网站上。

Cannabis Sativa President David Tobias stated, "we believe the agreement is a win -win for both companies, enabling Cannabis Sativa to change direction and to become a multi-state operator with solid brands in established as well as emerging markets and strong sales projections."

大麻萨蒂瓦公司总裁大卫·托拜厄斯说:“我们相信这项协议对两家公司都是双赢的,使大麻萨蒂瓦公司能够改变方向,成为一家在成熟市场和新兴市场拥有稳固品牌和强劲销售预期的多州运营商。”

The LOI provides for MJHI shareholders to receive 2.7 shares of CBDS common stock for each one share of MJHI common stock held immediately prior to the merger. The LOI is non-binding except as to certain terms covering due diligence investigations, break-up provisions (including a $50,000 termination penalty), and a requirement that both companies operate in the ordinary course of business pending merger

意向书规定,MJHI股东在紧接合并前持有的每1股MJHI普通股中,可获得2.7股CBDS普通股。意向书不具约束力,但某些条款除外,包括尽职调查、分拆条款(包括5万美元的终止罚款),以及要求两家公司在合并前在正常业务过程中运营。

Upon completion of the merger on the terms described in the LOI, it is anticipated that MJHI shareholders would own approximately 72% of the surviving company. The LOI contemplates that CBDS will be the surviving company in the merger and following the merger, MJHI will cease to exist as a separate corporate entity.

按意向书所述条款完成合并后,预计三菱重工股东将拥有尚存公司约72%的股份。意向书认为,CBDS将是合并后尚存的公司,合并后,三菱重工将不再作为一个独立的法人实体存在。

MJHI and CBDS management have agreed to a maximum 60-day due diligence period on completion of which the companies will execute a definitive merger agreement. The definitive merger agreement will then be submitted to both Companies' shareholders for approval. It is anticipated that the issuance of shares in the merger will be registered with the United States Securities and Exchange Commission ("SEC") and that the prospectus for the registration will include proxy materials to be distributed to the shareholders. Both Companies have agreed to work together to facilitate the preparation and filing of the registration statement and plan on holding a joint shareholder meeting for approval of the transaction as soon as all of the preliminary steps can be completed. Management estimates that the shareholder meeting for the merger will be held in mid-July 2022.

三菱重工和CBDS管理层已同意最长60天的尽职调查期,完成后,两家公司将签署最终的合并协议。最终的合并协议随后将提交给两家公司的股东批准。预计合并中的股票发行将向美国证券交易委员会(“美国证券交易委员会”)登记,登记的招股说明书将包括将分发给股东的代理材料。两家公司已同意共同努力,促进注册声明的准备和提交,并计划在所有初步步骤完成后尽快召开联合股东大会批准交易。管理层估计,合并的股东大会将于2022年7月中旬举行。

In order to consummate the merger, CBDS shareholders will be asked to approve an increase in the number of authorized shares of Common Stock of CBDS to 500,000,000 shares. Following the merger there would be approximately 160,000,000 shares outstanding with approximately 44,000,000 shares held by the original CBDS shareholders, and approximately 116,000,000 shares held by the MJHI shareholders that receive stock in the merger.

为了完成合并,CBDS股东将被要求批准将CBDS普通股的授权股票数量增加到5亿股。合并后,将有约160,000,000股已发行股份,其中约44,000,000股由原CBDS股东持有,以及约116,000,000股由在合并中收取股份的三菱重工股东持有。

Upon signing the definitive merger agreement, both MJHI and CBDS expect to convert related party debt to equity resulting in the elimination of approximately $1,900,000 and $1,425,000 in related party debt on the books of MJHI and CBDS, respectively. Following the merger, all operations will be consolidated in the surviving company. It is anticipated that the surviving company will report its financial results on a calendar year basis. It is also anticipated that the shareholder meeting to approve the merger will result in changes in the Board of Directors and officers of the surviving company, and a strong commitment to the cannabis industry. The existing PrestoDoctor telehealth operations of CBDS will be included in the combined results of operations following the merger, and the telehealth operations will be integrated into the cannabis operations to provide synergies where appropriate.

于签署最终合并协议后,MJHI和CBDS预期将关联方债务转换为股权,从而分别消除MJHI和CBDS账面上约1,900,000美元和1,425,000美元的关联方债务。合并后,所有业务将合并到尚存的公司。预计幸存的公司将按日历年度报告其财务业绩。还预计,批准合并的股东大会将导致幸存公司的董事会和管理人员发生变化,并对大麻行业做出坚定的承诺。CBD现有的PrestoDoctor远程保健业务将纳入合并后业务的合并结果,远程保健业务将并入大麻业务,以酌情提供协同增效作用。

Patrick Bilton, Chairman and Chief Executive Officer of MJ Harvest Inc. summarized his thoughts, "We view this transaction as a key initiative in our growth strategy of building depth, scale, and distribution in our key markets. The resulting entity will be much stronger, and this merger should be a big win for both companies' shareholders."

MJ嘉实公司董事长兼首席执行官帕特里克·比尔顿总结了他的想法:“我们认为这笔交易是我们在关键市场建立深度、规模和分销的增长战略中的一个关键举措。由此产生的实体将更加强大,这次合并对两家公司的股东来说都应该是一个巨大的胜利。”

About MJ Harvest Inc.

关于MJ嘉实公司

MJHI cultivates, harvests, manufactures and sells cannabis products through its growing relationship with PPK. PPK sells and markets cannabis flower and edibles throughout Oklahoma and through a joint venture relationship with the Flandreau Santee Sioux Tribe in Flandreau, South Dakota. MJHI currently owns 25% of PPK with options to acquire up to 100% of PPK Investment Group at any time prior to March 31, 2023.

MJHI通过与PPK不断发展的关系种植、收获、制造和销售大麻产品。PPK在俄克拉荷马州各地销售和营销大麻花和可食用产品,并通过与南达科他州佛兰德罗的Flandreau Santee Sioux部落的合资关系销售和营销大麻花和可食性食品。三菱重工目前拥有PPK 25%的股份,并有权在2023年3月31日之前的任何时候收购PPK投资集团最多100%的股份。

MJHI also acquires and markets products and technologies that are designed to benefit growers and processors in the horticultural and agricultural industries. MJHI launched to provide a professionally designed and maintained web-based marketing outlet for the company's brands and technologies.

三菱重工还收购和销售旨在使园艺和农业行业的种植者和加工商受益的产品和技术。MJHI推出的目的是为公司的品牌和技术提供一个专业设计和维护的基于网络的营销渠道。

About Cannabis Sativa, Inc.

关于大麻萨蒂瓦公司

Cannabis Sativa, Inc. ("CBDS") is engaged in telehealth, and 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 holds a U.S. patent on the Ecuadorian Sativa strain of Cannabis, a U.S. Patent for a marijuana lozenge; a Cannabis-based pharmaceutical composition for the treatment of hypertensive disorders by submucosal delivery and trade secret formulas and processes, and operates subsidiary PrestoDoctor®. Cannabis Sativa IP includes the "hi" and "White Rabbit" brands, and domain name portfolio including cbds.com and cannabissativa.com.

大麻萨蒂瓦公司从事远程保健、与大麻有关的知识产权许可、大麻产品和服务的营销和品牌推广、与大麻有关的技术服务的运营以及辅助商业活动。CBDS拥有厄瓜多尔大麻Sativa菌株的美国专利,这是一种大麻含片的美国专利;一种基于大麻的药物组合物,用于通过粘膜下给药和商业秘密配方和工艺治疗高血压疾病,并运营子公司PrestoDoctor®。大麻Sativa IP包括“hi”和“White Rabbit”品牌,以及包括cbds.com和canabissativa.com在内的域名组合。

Forward-Looking Statements
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. No assurances are, or can be given, that the parties will enter into a definitive merger agreement for any potential strategic acquisition, or that if such agreement is entered into, that the transaction would close, if at all, on the terms set forth in this release, or that the merged acquired business would be successful. Certain conditions to any closing of a potential merger acquisition would likely be outside of our control. The Company assumes no obligation to update any forward-looking statement to reflect any event or circumstance that may arise after the date of this release.

前瞻性陈述
本新闻稿包含“前瞻性陈述”。尽管本新闻稿中的前瞻性陈述反映了管理层的善意判断,但前瞻性陈述本身就会受到已知和未知的风险和不确定性的影响,这些风险和不确定性可能会导致实际结果与这些前瞻性陈述中讨论的大不相同。我们敦促读者仔细审阅和考虑我们在提交给美国证券交易委员会的报告中所作的各种披露,包括试图向感兴趣的各方提供可能影响我们的业务、财务状况、运营结果和现金流的风险的风险因素。如果这些风险或不确定性中的一个或多个成为现实,或者如果基本的假设被证明是不正确的,我们的实际结果可能与预期或预测的结果大不相同。基本假设包括但不限于,目前正在颁布的有利于大麻产品的生产和商业化的立法,以及该公司成功地利用这一立法。敦促读者不要过度依赖这些前瞻性陈述,这些陈述仅在本新闻稿发布之日发表。不能或不能保证双方将就任何潜在的战略收购达成最终合并协议,或如果达成此类协议,交易将按本新闻稿规定的条款完成,或合并后的收购业务将成功。潜在合并收购的任何结束的某些条件很可能不在我们的控制范围内。公司没有义务更新任何前瞻性陈述,以反映本新闻稿发布之日之后可能发生的任何事件或情况。

Contact Information:

联系方式:

(702) 762-3123

(702) 762-3123

SOURCE: Cannabis Sativa, Inc.

资料来源:大麻萨蒂瓦公司


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