Business
Wealthcraft Capital Inc. Announces Letter of Intent to Purchase a Nevada Licensed Cannabis Producer
Wealthcraft Capital Inc. Announces Letter of Intent to Purchase a Nevada Licensed Cannabis Producer.
About this update from Wealthcraft Capital, Inc.
[{"type":"text","content":"\nLOS ANGELES, Oct. 15, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Wealthcraft Capital Inc. (OTC PINK: WCCP) (\"Wealthcraft\" or the \"Company\") is pleased to announce that it has entered into a binding letter of intent to negotiate a definitive agreement to purchase a controlling interest in a licensed cultivator of cannabis located in Las Vegas, Nevada.  The acquisition will include both medical and recreational licenses for cultivation and an operating production facility in the Las Vegas area. \n As part of the acquisition, Wealthcraft will also obtain an option to acquire a controlling interest in a medial cannabis company which is an applicant to become a manufacturer of cannabis for research. “We are extremely pleased to announce this partnership with a group of Nevada physicians who are focused on the development and research of clinical applications of cannabis to pain management and addiction recovery,” said Robert Wilson, President of Wealthcraft.   The transaction includes a $200,000 deposit of which 50% is non-refundable in the event that the parties do not execute definitive agreements before December 3, 2018. About Wealthcraft: Wealthcraft Capital is focused on acquiring private companies that have a focus on the improvement of physiological and psychological wellness.  The Company intends to acquire controlling interests in businesses that have products and brands that can be introduced to new markets such as patient-based facilities and clinics. Through education and feedback from these markets, the Company plans to assemble the data necessary for further product development and clinical research.    This Press Release contains certain “forward-looking statements” as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements reflect our current expectations regarding our possible future results of operations, performance, and achievements. Wherever possible, the Company has tried to identify these forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “expect,” “plan,” “intend,” and similar expressions. These statements reflect our current beliefs and are based on informat...