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Centurion Executes Definitive Agreement with Canadian Cannabis Beverage Company, Amends Uruguay Cannabis CBD Oil Extraction Agreement
Centurion to acquire a Disruptive Water-Soluble Cannabinoid Technology Platform Delivering Rap...
About this update from Centurion Minerals Ltd.
[{"type":"text","content":"Centurion Executes Definitive Agreement with Canadian Cannabis Beverage Company, Amends Uruguay Cannabis CBD Oil Extraction AgreementCenturion to acquire a Disruptive Water-Soluble Cannabinoid Technology Platform Delivering Rapid Onset, Increased Bioavailability, Premium Taste Profiles and Highly Competitive Cost StructureVancouver, British Columbia--(Newsfile Corp. - February 25, 2021) - Centurion Minerals Ltd. (TSXV: CTN) (FSE: XJCB) (\"Centurion\" or the \"Company\") is pleased to announce that it has entered into an Amalgamation Agreement dated February 17, 2021 (the \"Agreement\"), with HAI Beverages Inc. (\"HAI\"), whereby Centurion will acquire 100% of the outstanding shares and assets of a wholly-owned subsidiary of HAI (\"NewHAI) in exchange for common shares of Centurion (the \"Acquisition\" or \"Transaction\"). NewHAI holds all material assets of HAI and the Acquisition will constitute a reverse take-over (\"RTO\") of the Company.About HAIThe HAI team has extensive experience in the beverage and consumer packaged goods industries, founding HAI to capitalize on the disruption of the alcohol beverage market by cannabis infused products. The HAI team's deep understanding of the global beverage market and its experience in developing successful beverage brands, resulted in a proprietary technology platform that delivers:Rapid onset and high bioavailability, providing an experience similar to the sessionability of alcohol consumption;A cost structure competitive with non-infused, mass market beverages; andMulti-format product capabilities.HAI has developed an extensive portfolio of technology and assets related to water-soluble cannabinoids (THC, CBD, and other cannabinoids), including:A range of ready-to-drink beverage products targeting specific consumer groups. Seltzers, sodas, and a variety of carbonated cocktail formulations.Single-serve powdered drink offerings utilizing HAI's dry water-soluble technology. Teas, coffee, and mate (also known as cimarron), including K-Cup single serve formats, using a dry water-soluble formulation.A suite of advanced topical products that utilizes HAI's concentrates to enable rapid transdermal delivery of the active cannabinoid ingredients.The HAI research team has successfully developed multiple infused beverage products containing highly bioavailable cannabinoids that deliver an...