$MCTC News just out! #Cannabis Global Announces Fu
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Posted On: 05/14/2020 8:21:03 AM
$MCTC News just out! #Cannabis Global Announces Fully-Executed LOI, Expands into $10B California Cannabis Delivery Services Market https://www.accesswire.com/589826/Cannabis-Gl...ces-Market
Thursday, May 14, 2020 7:30 AM
LOS ANGELES, CA / ACCESSWIRE / May 14, 2020 / Cannabis Global, Inc. (OTC PINK:MCTC) ("Cannabis Global" or the "Company"
, a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, is excited to announce the signing of a Letter of Intent (the "LOI" with Whisper Weed Delivery of Los Angeles ("Whisper Weed" , a leading California cannabis delivery services provider, wherein Cannabis Global will provide management services in exchange for fees equivalent to 51% of the profits derived from Whisper Weed's cannabis delivery services throughout the entire greater Los Angeles regional marketplace.
"We continue to verticalize operations from an IP-driven base, stacking a core technology and R&D edge under growing manufacturing operations, and now we have added an essential piece of that puzzle: an established leadership position in cannabis home delivery in the largest municipal cannabis market in the world," commented, Arman Tabatabaei, CEO of Cannabis Global. "Whisper Weed is cash-flow positive, profitable, and growing rapidly in terms of volume and end-market footprint. Our aggressive growth strategy continues to move forward ahead of schedule. And this expansion into the rapidly growing California cannabis delivery space is an integral part of that plan."
Management notes that the Company recently announced a substantial vertical expansion with the licensing of core proprietary IP for applied deployment in manufacturing of next-generation cannabis edibles for the regulated California cannabis market. The move to partner with Whisper Weed represents an additional level of verticalization, which aligns with the Company's strategic vision and value proposition for shareholders.
Whisper Weed Delivery operates its website at www.WhisperWeedDelivery.com Consumers are able to browse products in the flower, pre-roll, cartridge, edibles, and concentrate categories. Consumers simply sign up on the website and order products with a delivery typically within a few hours. The operation headquartered in Downtown Los Angeles delivers to the Los Angeles metro area. Cannabis Global believes the trend toward home delivery for cannabis is robust with further growth expected over the coming year.
Mr. Tabatabaei continued, "The cannabis home delivery service space is riding a powerful tailwind right now. This agreement puts Cannabis Global squarely on that playing board. The pandemic has accelerated already significant structural trends. This relationship provides us with an explosive vehicle to operationalize our patent-pending edibles infusion tech and connect directly with our end-market consumer through Whisper Weed, as well as numerous other delivery services."
Management also believes that a number of assets in the cannabis space may be valued at distressed levels relative to long-term expected cash flows. As a well-capitalized publicly-traded company, Cannabis Global considers itself well-positioned to potentially become more aggressive on a strategic level with respect to a number of potential M&A and partnership opportunities involving top-tier players in the space.
Thursday, May 14, 2020 7:30 AM
LOS ANGELES, CA / ACCESSWIRE / May 14, 2020 / Cannabis Global, Inc. (OTC PINK:MCTC) ("Cannabis Global" or the "Company"
, a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, is excited to announce the signing of a Letter of Intent (the "LOI" with Whisper Weed Delivery of Los Angeles ("Whisper Weed" , a leading California cannabis delivery services provider, wherein Cannabis Global will provide management services in exchange for fees equivalent to 51% of the profits derived from Whisper Weed's cannabis delivery services throughout the entire greater Los Angeles regional marketplace. "We continue to verticalize operations from an IP-driven base, stacking a core technology and R&D edge under growing manufacturing operations, and now we have added an essential piece of that puzzle: an established leadership position in cannabis home delivery in the largest municipal cannabis market in the world," commented, Arman Tabatabaei, CEO of Cannabis Global. "Whisper Weed is cash-flow positive, profitable, and growing rapidly in terms of volume and end-market footprint. Our aggressive growth strategy continues to move forward ahead of schedule. And this expansion into the rapidly growing California cannabis delivery space is an integral part of that plan."
Management notes that the Company recently announced a substantial vertical expansion with the licensing of core proprietary IP for applied deployment in manufacturing of next-generation cannabis edibles for the regulated California cannabis market. The move to partner with Whisper Weed represents an additional level of verticalization, which aligns with the Company's strategic vision and value proposition for shareholders.
Whisper Weed Delivery operates its website at www.WhisperWeedDelivery.com Consumers are able to browse products in the flower, pre-roll, cartridge, edibles, and concentrate categories. Consumers simply sign up on the website and order products with a delivery typically within a few hours. The operation headquartered in Downtown Los Angeles delivers to the Los Angeles metro area. Cannabis Global believes the trend toward home delivery for cannabis is robust with further growth expected over the coming year.
Mr. Tabatabaei continued, "The cannabis home delivery service space is riding a powerful tailwind right now. This agreement puts Cannabis Global squarely on that playing board. The pandemic has accelerated already significant structural trends. This relationship provides us with an explosive vehicle to operationalize our patent-pending edibles infusion tech and connect directly with our end-market consumer through Whisper Weed, as well as numerous other delivery services."
Management also believes that a number of assets in the cannabis space may be valued at distressed levels relative to long-term expected cash flows. As a well-capitalized publicly-traded company, Cannabis Global considers itself well-positioned to potentially become more aggressive on a strategic level with respect to a number of potential M&A and partnership opportunities involving top-tier players in the space.
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