Business
Novation Holdings, Inc. Executes Letter of Intent to Acquire Legends of Hemp and TerraVida CBD
Novation Holdings, Inc. Executes Letter of Intent to Acquire Legends of Hemp and TerraVida CBD.
About this update from Novation Holdings Inc.
[{"type":"text","content":"\n\n\n\nNovation Holdings, Inc. Executes Letter of Intent to Acquire Legends of Hemp and TerraVida CBD\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNovation Holdings, Inc. Executes Letter of Intent to Acquire Legends of Hemp and TerraVida CBD\nPR Newswire\nRANCHO MIRAGE, Calif., Nov. 22, 2021\n\n\n\n\n \n \n RANCHO MIRAGE, Calif., Nov. 22, 2021 /PRNewswire/ -- Novation Holdings, Inc. (OTCPINK: NOHO) (\"Novation\" or the \"Company\"), a multi strategy holding company focused on identifying, developing, acquiring and bringing to market technologies and solutions to the marketplace is pleased to announce that it has executed a Letter of Intent (the \"LOI\") to, flowing certain reorganization transactions described therein, acquire Legends of Hemp, LLC a CBD manufacturing and branding company based in Madison, Wisconsin (\"Legends of Hemp\" or \"LOH\") and GMTRV, LLC d/b/a TerraVida, a manufacturer, wholesaler and online retailer of high quality, 100% natural, third party lab tested CBD products both marketed and sold under the label \"TerraVida\" and based in Denver, Colorado (\"TerraVida\") (Legends of Hemp and TerraVida collectively referred to as \"Targets\"). \n\n \n \n \n \n \n \n\n \nPursuant to the terms of the LOI, upon the successful completion of Novation's due diligence and preparation of definitive agreements implementing the LOI, the Company intends to acquire all of the outstanding ownership interests of both Targets in exchange for shares of Novation's common stock. Further, Novation will assist in the growth, strategy, financing, and development of each of the Targets' respective brands. It is also anticipated that Novation will appoint and elect some of the Targets' key management and personnel to serve as both officers and on the Company's board of directors.  \nAbout Legends of Hemp\nLegends of Hemp was founded by cannabis industry veterans who have collectively been involved in dozens of successful businesses in both the cannabis and entertainment industry. LOH brings together the experiences in these two industries to create a platform...