Business
Branded Legacy, Inc. Signs Letter of Intent to Purchase Assets Of Kamino Propagation & Research, LLC
Branded Legacy, Inc. Signs Letter of Intent to Purchase Assets Of Kamino Propagation & Research, LLC.
About this update from Branded Legacy Inc.
[{"type":"text","content":"Orlando, Florida, June 13, 2022 (GLOBE NEWSWIRE) -- Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of hemp and cannabinoid-infused beverages, along with an array of CBD topicals and tinctures signs a letter of intent to purchase assets of Kamino Propagation & Research, LLC. Branded Legacy, Inc. originally signed a letter of intent to acquire Kamino Propagation & Research, LLC on April 6, 2022. Since then, both parties have signed an updated letter of intent to reflect an asset purchase. The Company is located in Newberry, FL and owned by military veterans Maxwell Minch and Joel Reynolds. Kamino is in the business of growing, farming, harvesting, and selling industrial hemp. Branded Legacy, Inc. toured Kamino’s back in March of 2022, and an acquisition opportunity was discussed to the long-term benefit of both companies. While at the farm, both companies discussed how a potential acquisition creates opportunity for Branded Legacy to own everything from seed to shelf, controlling the total process while reducing costs. This in turn would allow Kamino to focus on the growing, farming and harvesting of the industrial hemp while Branded Legacy has the salesforce and network to increase sales. This conversation has developed and has concluded as more advantageous for both parties to make this an asset purchase instead of an acquisition. Additionally, the plants grown by Kamino opens more opportunity for the development of new products not currently in the lineup. Branded Legacy’s President, Brandon White, stated, “We are continuing our advancement to make 2022 a pivotal turning point for the Company. We are positioning ourselves to acquire a significant amount of assets and revenues. Our shareholders are extremely important to us and we are doing everything to add value where we see fit.”About Spikes CBDX: Spikes CBDX is a line of CBD products designed to assist athletes perform better, recover faster, and avoid injuries. The Company believes that post workout recovery, with Spikes CBDX products, can lower inflammation, aid in making your body stronger, and help recover from injuries naturally. The CBD line also targets individuals who are looking for pain relief, better sleep, faster recovery and lowering inflammation. Spikes CBDX provides tinctures, lotions, mo...