$LVVV Livewire Ergogenics Provides Update on Green
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Posted On: 09/28/2023 8:42:35 AM
$LVVV Livewire Ergogenics Provides Update on Green Eagle Delivery Acquisition in Los Angeles, CA
https://www.otcmarkets.com/otcapi/company/dns...20/content
Enters into Distribution Agreement – Withdraws Option for Acquisition
Anaheim, CA, September 27, 2023 -- Livewire Ergogenics Inc. (OTC: LVVV), a company specializing in the ownership, management, leasing, and licensing of unique real estate properties and operations that support the production of premium, artisanal, sun-grown organic cannabis products for medical and recreational use in California, has chosen not to proceed with its plan to acquire a controlling stake in Green Eagle Cannabis Delivery located in Los Angeles, CA. Instead, it will enter into a distribution agreement to facilitate the sale of all products under the “Estella Weedery” brand.
The finalization of a Green Eagle purchase agreement was contingent on approval and adherence to the rules and regulations for Social Equity cannabis businesses set by the State, the City of Los Angeles, and other involved parties, representing a significant bureaucratic obstacle for the acquisition process. Livewire has determined that it would be more beneficial to establish a Distribution and Marketing Agreement with Green Eagle on a Preferred Placement basis. This will enable Estrella Weedery products to be showcased and sold via Green Eagle Delivery as soon as it commences operations.
Bill Hodson, Livewire's CEO, commented, "Livewire Ergogenics has arrived at a pivotal juncture in its evolution. Over the past four years, we have grown significantly, establishing one of California's top organic-style sun-grown cannabis cultivation operations at Estrella Ranch in Paso Robles, California. In response to the volatile and rapidly changing market conditions and in an effort to streamline all operations with a strict focus on the substantial opportunities we have generated, we will expedite the growth of the Livewire entities that have shown the most promise over the past year. We will maintain our focus on steady cash flow, contribution to increased revenue, and positive net income for the foreseeable future.”
https://www.otcmarkets.com/otcapi/company/dns...20/content
Enters into Distribution Agreement – Withdraws Option for Acquisition
Anaheim, CA, September 27, 2023 -- Livewire Ergogenics Inc. (OTC: LVVV), a company specializing in the ownership, management, leasing, and licensing of unique real estate properties and operations that support the production of premium, artisanal, sun-grown organic cannabis products for medical and recreational use in California, has chosen not to proceed with its plan to acquire a controlling stake in Green Eagle Cannabis Delivery located in Los Angeles, CA. Instead, it will enter into a distribution agreement to facilitate the sale of all products under the “Estella Weedery” brand.
The finalization of a Green Eagle purchase agreement was contingent on approval and adherence to the rules and regulations for Social Equity cannabis businesses set by the State, the City of Los Angeles, and other involved parties, representing a significant bureaucratic obstacle for the acquisition process. Livewire has determined that it would be more beneficial to establish a Distribution and Marketing Agreement with Green Eagle on a Preferred Placement basis. This will enable Estrella Weedery products to be showcased and sold via Green Eagle Delivery as soon as it commences operations.
Bill Hodson, Livewire's CEO, commented, "Livewire Ergogenics has arrived at a pivotal juncture in its evolution. Over the past four years, we have grown significantly, establishing one of California's top organic-style sun-grown cannabis cultivation operations at Estrella Ranch in Paso Robles, California. In response to the volatile and rapidly changing market conditions and in an effort to streamline all operations with a strict focus on the substantial opportunities we have generated, we will expedite the growth of the Livewire entities that have shown the most promise over the past year. We will maintain our focus on steady cash flow, contribution to increased revenue, and positive net income for the foreseeable future.”
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