Demand Brands Signs Agreement to Acquire New Businesses
January 4, 2023
WATSONVILLE, CA / ACCESSWIRE / Jan 3, 2022 / Demand Brands, Inc. (OTC PINK: DMAN), (“Company” or “Demand Brands”) http://dman.co, a leading vertically integrated cannabis company, is pleased to announce it has signed a Letter of Agreement (the “Agreement”) to acquire, in an all-stock transaction (the “Transaction”), three (3) synergistic operational businesses, which we anticipate closing in the First Quarter 2023, that will add an estimated USD 1million in revenue in the first year.
This Transaction is part of the Company’s focus on building its capabilities in the medical segment and marks the first step in this direction.
“This transaction furthers Demand Brands’ mission of expanding our vertically integrated business model into a multi-state operation and advances our plans on capturing the medical cannabis market,” said Kevin Sparks, CEO of Demand Brands, and further added, “Our target is to close the transaction in Q1.”
The portfolio of acquired companies includes:
- L Grove MMJ Park, LLC, a cultivation operation with a retail footprint located in Oklahoma that will make Demand Brands a multistate operator and opens up opportunities for subsidiary businesses to scale operations into a market with a lower cost of production and business-friendly regulations. Company subsidiary Viridi Farms is also in late-stage conversations with additional potential management consulting and distribution clients in Oklahoma.
- Hello Mary Inc, a B2C cannabis software platform that leverages artificial intelligence technologies to provide delivery on-demand and budtender services for medical and recreational consumers. Hello, Mary is a development stage business. The Company plans to develop and build Hello Mary to allow it to further automate its wholesale distribution model and enter the retail cannabis market.
- MediGrow LLC, a company with real property in California that will become the Company’s flagship site consisting of a 1.5 million sq ft cannabis campus that is to be converted into a vertically integrated, pharmaceutical-grade, GMP-certified enterprise.
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About Demand Brands
Demand Brands is a publicly traded company in the cannabis industry that has vertical integration, optimization, and innovation at the heart of its core strategy. We strategically invest in, acquire & partner with synergistic cannabis companies. Our goal is to optimize and expand our vertically integrated platform into a multi-state operation. We seek to capture value at every stage of the soil to sale process. Our capabilities include cultivation, processing, brand & supply management, and real estate.
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SOURCE: Demand Brands, Inc.
Cautionary Note Regarding Forward-Looking Information and Statements. This press release contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties, certain assumptions and factors relating to the operations and business environment of DMAN that may cause the actual results of DMAN to be materially different from any future results expressed or implied in such forward-looking statements. Such factors include future acquisitions, the ability to successfully integrate future acquisitions, the ability to obtain financing, and future sales and operating income.