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Wangton Capital Corp. Signs a Term Sheet to Acquire Cloud 9 Switzerland - a Producer of Cannabis-infused Consumer and Therapeutic Products
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - Wangton Capital Corp. (NEX...
About this update from Wangton Capital Corp.
[{"type":"text","content":"Wangton Capital Corp. Signs a Term Sheet to Acquire Cloud 9 Switzerland - a Producer of Cannabis-infused Consumer and Therapeutic ProductsVancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - Wangton Capital Corp. (NEX: WT.H) (\"Wangton\" or the \"Company) is pleased to announce that it has entered into an arm's length non-binding Term Sheet dated November 8, 2019 (the \"Term Sheet\") with Dr. Francis Scanlan (the \"Vendor\"), the sole owner, to acquire Cloud 9 Switzerland LLC (\"Cloud 9\") and three other related companies (the \"Transaction\"). Cloud 9 is engaged in product development, commercialization and worldwide distribution of value-added premium cannabis infused products in the food, beverage/spirits, pharmaceutical and cosmetic sectors. The products include the first Swiss regulatory compliant Hemp Swiss chocolate, and innovative Cannabinoid based treatments for glaucoma, and asthma, and an innovative CBD nanoparticle transdermal skin patch.The Company also announces that the letter of intent with Bargella Invest AG, and its affiliates (see Company News Release dated July 3, 2019) has been terminated.ABOUT CLOUD 9 www.cloud9switzerland.com Cloud 9 Switzerland is a dynamic company founded in 2017 bringing health and wellness to people leveraging the benefits of medicinal plants. Based in Switzerland with operations in Switzerland, France and Jamaica, Cloud 9 has established partner and distribution relations in European markets, notably Italy and Germany as well as in Canada, USA, and Australia to commercialise their products. In addition, Cloud 9 has an extensive network of collaborations between universities, medical professionals and patients' associations. Cloud 9 has a combined strength of over 50 years of experience in phytotherapy, flavors, food and beverages, with a strong focus on research & development, quality, regulatory compliance and route to market. Cloud 9 is a brand owner, manufacturer and distributor of cannabis and non-cannabis products consisting of pharmaceuticals, food, beverage and cosmetics based on a variety of aromatic and medicinal plants. Cloud 9 through its founder is a member of the International Association for Cannabinoid Medicines and the European Industrial Hemp Association. ACQUISITION TERMSUnder the terms of the Term Sheet, the Company proposes to acquire Cloud 9 an...