Business
Wee-Cig International Corp. Signs Definitive Agreement to Acquire Controlling Interest in The Jamaican Brew House
Wee-Cig International Corp. Signs Definitive Agreement to Acquire Controlling Interest in The Jamaican Brew House.
About this update from Wee-cig International Corporation
[{"type":"text","content":"\n LAS VEGAS, NV, Feb. 06, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Wee-Cig International Corporation (OTCMarkets: WCIG) (the “Company”, “Wee-Cig”), a company focused on identifying and growing top tech companies in emerging markets, today announced that it has entered into a definitive agreement for the acquisition of a controlling interest in The Jamaican Brew House. The Jamaican Brew House (“JBH”) has pioneered development, through a patent pending technology, of a neutral liquid base made from cannabis that can be used in a range of food and beverage applications. JBH plans to begin commercial sales of its products in fiscal 2023. With this acquisition, management is eager to enter the cannabis industry with such a strong and innovative partner. The Jamaican Brew House team, including leaders in sales, marketing, food processing and corporate advisory bring their deep industry knowledge to our operations. \"We are excited to announce entry into a definitive agreement to acquire a controlling interest in The Jamaican Brew House,” said Efraim Babayov, President of Wee-Cig International Corporation. “Kickstarting commercial sales for The Jamaican Brew House products is expected to be the focus of Wee-Cig in 2023. I believe this acquisition will provide tremendous value to our company and shareholders.\" Concurrent with the closing of the definitive agreement with JBH, Mr. Efraim Babayov, sole officer and director of the Company will resign all positions, and Mr. Ruben Yakubov shall join the Board of Directors of the Company, as a director and Chairman of the Board along with assuming the role of Corporate Secretary. Ms. Erin Winczura, sole officer and director of JBH, shall be appointed Chief Executive Officer, President and Treasurer as well as to the Board of Directors of the Company.  Closing is expected to occur no later than February 10, 2023. Under the terms of the definitive agreement, each of Mr. Yakubov and Mrs. Winczura, and their controlled entities, will receive a minimum of 19,440,000 unregistered, restricted common shares of Wee-Cig. Ruben Yakubov, graduated in 1994 as an economist from Kazakhski Chimiko-Technologitcheski Institute in Chimkent, Kazakhstan. Mr. Yakubov has been working as an economist and financial advisor in various business and financi...