Posted On: 03/09/2015 10:18:47 AM
Post# of 1456
$FWDG - New 8-K!
On March 05, 2015, the Company has signed an LOI to sell a majority interest in FutureLand Properties LLC to a publicly traded company. The decision was made based on FutureWorld’s internal business model of incubating cannabis related profitable ventures and exit through sale or spin-offs. The transaction will be based on stocks and it is expected to be completed by the fourth week of March, 2015. The transaction value will be established by a third party accounting firm. Company will dividend out the proceeds with the completion of the process.
The transaction is an arms-length transaction and there are no material relationships and conflicts between the parties.
FutureLand’s current asset comprise of 240 acres of prime property in southern Colorado and two signed lease agreements for grow facilities on its land. Its business plan is to continue attracting legal license holders to lease land and grow facilities on its 240 acres.
More information will be provided when details on the agreement including the purchase price has been clarified. This is our second spin-off so far. We are expecting more to follow.
The Company also announces that its subsidiary, CB Scientific, has signed an agreement with a major distributor to distribute CB Scientific’s PocketLabs PersonalAnalytics in the United States and part of Canada. This agreement is the largest of its kind so far in the history of the Company. More details will be announced through a press release.
On March 05, 2015, the Company has signed an LOI to sell a majority interest in FutureLand Properties LLC to a publicly traded company. The decision was made based on FutureWorld’s internal business model of incubating cannabis related profitable ventures and exit through sale or spin-offs. The transaction will be based on stocks and it is expected to be completed by the fourth week of March, 2015. The transaction value will be established by a third party accounting firm. Company will dividend out the proceeds with the completion of the process.
The transaction is an arms-length transaction and there are no material relationships and conflicts between the parties.
FutureLand’s current asset comprise of 240 acres of prime property in southern Colorado and two signed lease agreements for grow facilities on its land. Its business plan is to continue attracting legal license holders to lease land and grow facilities on its 240 acres.
More information will be provided when details on the agreement including the purchase price has been clarified. This is our second spin-off so far. We are expecting more to follow.
The Company also announces that its subsidiary, CB Scientific, has signed an agreement with a major distributor to distribute CB Scientific’s PocketLabs PersonalAnalytics in the United States and part of Canada. This agreement is the largest of its kind so far in the history of the Company. More details will be announced through a press release.
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