Cannabis Global (OTC: CBGL), a cannabinoid and hemp-extract, science-forward company developing infusion and delivery technologies, has acquired a stake in Natural Plant Extract of California Inc. (“NPE”). The strategic move places CBGL in a prime position in the multibillion-dollar California cannabis space. The agreement, which closed Aug. 31, 2020, outlined Cannabis Global’s acquisition of 18.8% of NPE’s outstanding capital stock for $2 million. NPE operates a licensed cannabis manufacturing and distribution business operation out of Lynwood, California, and owns a Type 7 California Manufacturing License as well as a California Distribution license. “This is a significant agreement for Cannabis Global, as it provides the company with further penetration into the important California market, which is valued at billions of dollars per year,” said Cannabis Global CEO Arman Tabatabaei in the press release. “We believe we create significant added value for our shareholders and new synergies by combining our managerial talents and technologies with the licenses and marketplace opportunities of NPE. We have aspirations of becoming a major distributor and manufacture of our cannabis products in California. NPE is ahead of most of the competition in the state in terms of permitting, build-out and licensing.”
To view the full press release, visit http://cnw.fm/cTNMJ
About Cannabis Global Inc.
Cannabis Global, formerly known as MCTC Holdings Inc., is a fully audited and reporting company with the U.S. Securities & Exchange Commission. The company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp- and cannabis-infusion technologies. The company does not engage in the production, distribution or sales of any controlled substances, including marijuana. CBGL has an actively growing portfolio of intellectual property, having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The company markets its consumer products under the Hemp You Can Feel brand name. Cannabis Global launched its Project Varin early in 2020, designed to develop new delivery methods for rare cannabinoid tetrahydrocannabivarin (THV-C) and to develop products based on this cannabinoid. For more information about the company, visit www.CannabisGlobalInc.com.
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