NetworkNewsBreaks – Cannabis Global Inc. (CBGL),
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Posted On: 09/22/2020 2:46:54 PM
NetworkNewsBreaks – Cannabis Global Inc. (CBGL), NPE Collaborate on Multiple Levels Following Strategic Investment
Cannabis Global (OTC: CBGL), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today provided shareholders with more details following the company’s recent 18.8% strategic investment stake in Natural Plant Extract (“NPE”). Operating out of Lynwood, California, NPE holds a Type 7 California manufacturing and distribution license, allowing for cannabis product distribution anywhere in the state. Through the newly formed strategic relationship, Cannabis Global and NPE management teams are already collaborating on multiple levels, including the integration of several of the company’s technologies in products manufactured by NPE and distributed by NPE’s Northern Lights Distribution. “Aside from the direct positive balance sheet impact, which we will outline in our upcoming fiscal year-end filing with the SEC, we acquired the stake in NPE for the strategic importance to our future business,” said Cannabis Global CEO Arman Tabatabaei in the press release. “There are multiple synergies between our internally developed technologies and the cannabis market sectors targeted by NPE and its business partners. We believe the recent acquisition and the growing relationship between the management teams will create opportunities to lower our manufacturing costs, provide important distribution channels for our unique product lines, and offer our company multiple licensing opportunities.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Cannabis Global (OTC: CBGL), a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, today provided shareholders with more details following the company’s recent 18.8% strategic investment stake in Natural Plant Extract (“NPE”). Operating out of Lynwood, California, NPE holds a Type 7 California manufacturing and distribution license, allowing for cannabis product distribution anywhere in the state. Through the newly formed strategic relationship, Cannabis Global and NPE management teams are already collaborating on multiple levels, including the integration of several of the company’s technologies in products manufactured by NPE and distributed by NPE’s Northern Lights Distribution. “Aside from the direct positive balance sheet impact, which we will outline in our upcoming fiscal year-end filing with the SEC, we acquired the stake in NPE for the strategic importance to our future business,” said Cannabis Global CEO Arman Tabatabaei in the press release. “There are multiple synergies between our internally developed technologies and the cannabis market sectors targeted by NPE and its business partners. We believe the recent acquisition and the growing relationship between the management teams will create opportunities to lower our manufacturing costs, provide important distribution channels for our unique product lines, and offer our company multiple licensing opportunities.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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