Business
Cannabis Global and Active Health Foods, Inc., Release Cannabis Brand Names for its Proposed California Joint Venture with Massachusetts Based Cannabis Company The Hub Craft, LLC
Cannabis Global and Active Health Foods, Inc., Release Cannabis Brand Names for its Proposed California Joint Venture with Massachusetts Based Cannabis Company The Hub Craft, LLC.
About this update from Active Health Foods, Inc.
[{"type":"text","content":"LOS ANGELES, CA / ACCESSWIRE / January 6, 2022 / Cannabis Global, Inc. (OTC PINK:CBGL) and Active Health Foods, Inc. (OTC PINK:AHFD) today announce the cannabis consumer brands to be included in their recently announced letter of intent to create a joint venture with the Hub Craft, a licensed and permitted Massachusetts cannabis cultivation, manufacturing, and retail company.The proposed joint venture plans to bring the following Hub Craft brands into the California marketplace.Freeway Cannabis by Rick RossPayton's Place by NBA Star Gary PaytonTRUTH34 brand via Paul Pierce, 10x NBA All-Star,, aka ‘The Truth'. The brand will include flower, vapes, bubble hash, pre-rolls, and edibles.Whoopi Goldberg's brand "Emma & Clyde" to include pre-rolls, flower, vapes, and edibles from the health-conscious brand "Emma & Clyde".Under the terms of the proposed joint venture, Cannabis Global, Active Health and The Hub Craft will form a California corporation to enter the California cannabis marketplace. In addition to being granted exclusive licenses on all Hub Craft products, branding, and associated technologies for the State of California, the joint venture will be provided an option to purchase a 51% controlling position in Hub Craft anytime within nine months of the effective date of the joint venture for a price of $15 million."Our Company, Cannabis Global, will add the licensed California cannabis component to this proposed joint venture. We are proud to add these brand names to the endeavor", commented Arman Tabatabaei, CEO of Cannabis Global. "The California market is highly competitive and branding is more important than ever. These powerhouse cannabis brands will be an impressive addition to our California marketing efforts"While the executives of the companies have agreed to the proposed initial terms of the joint venture to address the California market as outlined in the non-binding letter of intent, no definitive agreement has been signed. Moreover, there are still a considerable number of details to be worked out before the companies would be able to finalize an agreement. Thus, there can be no assurance a transaction as contemplated will ultimately take place.This press release does not and shall not constitute an offer to sell, or the solicitation of an offer to buy, the se...