Hemptown, a privately held British Columbia company, today announced its entry into a letter of intent (“LOI”) with Spectre Capital Corp. (TSX.V: SOO.P), a capital pool company listed on the TSX Venture Exchange. According to the update, the LOI is in relation to Spectre’s acquisition of all the issued and outstanding securities of Hemptown. Once complete, the transaction is expected to result in the reverse takeover of Spectre. “We are excited to announce this next step in the growth of Hemptown as we work towards a public listing that will enable Hemptown to further execute on its M&A strategy, with the ultimate goal of becoming the ‘P&G’ of the cannabinoid industry,” said Eric Gripentrog, CEO of Hemptown, in the news release. “Access to the capital markets has been an important part of our growth as a company, and a public listing is expected to further enable Hemptown to grow through investment and acquisition.”
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About Hemptown
Hemptown is a diversified cannabinoid company delivering a wide product offering across the value chain, and in multiple sales channels, to meet the growing global demand for cannabinoid-based products. State-of-the-art cultivation in Oregon’s Rogue Valley, FDA-licensed and cGMP-certified product manufacturing and a strong leadership team with Fortune 500 experience are the pillars for Hemptown’s growth model as it pushes into the consumer-packaged goods sectors with top-quality white-label and branded product lines for the consumer market. For more information, visit www.HemptownUSA.com.
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