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Wee-Cig International Corp. Signs Letter of Intent to Acquire The Jamaican Brew House
Wee-Cig International Corp. Signs Letter of Intent to Acquire The Jamaican Brew House.
About this update from Wee-cig International Corporation
[{"type":"text","content":"\n Las Vegas, NV, Jan. 12, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Wee-Cig International Corporation (OTCMarkets: WCIG), a company focused on identifying and growing top tech companies in emerging markets, today announced that we have signed a Letter of Intent (LOI) to acquire The Jamaican Brew House. The Jamaican Brew House (“JBH”) is a producer of an exclusive neutral liquid base made from cannabis that can be used in a range of food and beverage applications. The naturally soluble liquid eliminates the need for emulsification or nanoencapsulation, resulting in a finished product that has consistent CBD/THC content and is free of the taste of cannabis terpenes. JBH is the first company to utilize a botanical process to naturally create a neutral cannabis base and is further differentiated by its innovative products, unique flavor profiles, and customer-first experience, making cannabis products more enjoyable for consumers. The team at JBH includes sales and marketing leaders from the beverages industry, cannabis and food processing, and a corporate advisory team, all of whom will bring their industry knowledge to the company's operations. This acquisition will bring a patent pending technology to Wee-Cig International Corporation, which the Company intends to immediately commence marketing. The Company expects to enter into a definitive agreement with JBH no later than thirty (30) days from entry into this LOI, with a closing during the first quarter of fiscal 2023. \"I am extremely excited to announce we have entered into a Letter of Intent,\" comments Efraim Babayov, CFO of Wee-Cig International Corporation. “The expansion of operations of The Jamaican Brew House is expected to be the focus of our company in 2023 and will bring a new and existing operating segment. I believe this acquisition once concluded will provide tremendous value to our company and shareholders.\" Concurrent with the entry into this Letter of Intent, Mr. Russell Korus, CEO, President and director of the Company, has resigned all positions. Mr. Efraim Babayov has agreed to assume the role of interim CEO and President.   About Wee-Cig International Corporation Wee-Cig International Corporation is a publicly traded holding and acquisition company (WCIG) with a particular talent in identifying top tech companies in em...