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Wangton Capital Corp. Announces Letter of Intent to Acquire a Portfolio of Six Swiss Companies in the Cannabis Industry
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2019) - Wangton Capital Corp. (TSXV: WT...
About this update from Wangton Capital Corp.
[{"type":"text","content":"Wangton Capital Corp. Announces Letter of Intent to Acquire a Portfolio of Six Swiss Companies in the Cannabis IndustryVancouver, British Columbia--(Newsfile Corp. - July 3, 2019) - Wangton Capital Corp. (TSXV: WT.H) (\"Wangton\" or the \"Company\") is pleased to announce that it has entered into an arm's length non-binding letter of intent dated June 28, 2019 (the \"LOI\") with Bargella Invest AG, and its affiliates, to acquire control of six companies (the \"Target Companies\") which are fully integrated with grow, extraction, topicals, and retail distribution of consumer products in the cannabinoid industry in Switzerland (the \"Transaction\"). It is anticipated that the Transaction will constitute Wangton's \"Qualifying Transaction\" pursuant to Policy 2.4 of the TSX Venture Exchange (the \"Exchange\").Bargella Invest AG, based in Basel, Switzerland, is a privately-owned entrepreneurial holding company with diversified sustainable real estate holdings, green energy projects, and a portfolio of young companies and operates in Switzerland, France, Germany, Austria, and Luxembourg. The control person of Bargella Invest AG is Laurin Faeh, a resident of Basel, Switzerland. See www.bargella.ch.The Target Companies to be acquired by Wangton include:Greenology AG (www.greenology-ag.ch) operates a 4,500 sqm. indoor grow facility located in an industrial area near Zurich. Greenology has a fully integrated production facility which includes forty genetics, cultivation, harvesting and processing of cannabis plants for the food, retail consumption and medical industries. Its branded retail product, Terra ( www.terra-cbd.ch ), is widely sold in kiosks, tobacco shops, newsstands, and online through Switzerland.CannatoGo AG ( www.cannatogo.ch ) has an indoor growth facility of 1,500 sqm and produces CBD hemp infused products and other related consumer products such as CBD capsules, CBD tobacco substitutes and CBD oil, as well as hemp extracts for the wholesale market in Switzerland. The Company sells its products directly to consumers through its own e-commerce website.Osiris Distribution GmbH ( www.osiris.ch ) produces and sells a variety of CBD based homeopathic and medicinal products which are sold online, and through drug stores. The Osiris brand is a leader in the homeopathic industry in Switzerland. The CBD based products include arom...