Maple Leaf Green World (MGW.C) inked an letter of intent to acquire lifestyle brand CBD Fusions today, according to a press release.
This acquisition provides an opportunity to expand on the company’s product line by adding premium CBD infused personal care products. The acquisition includes the company’s brands, sale contracts, inventory, intellectual property, and social media handles.
“We are excited to acquire CBD Fusions. This will accelerate our entry into the personal care space with our high quality CBG. The combination of our premium smokable hemp products, Phoenix Crave and CBD infused care products will establish a solid foundation and drive us forward for future growth,” said Raymond Lai, president & CEO.
Maple Leaf’s principle focus is on the hemp industry in North America, and have a hemp project in Southern California. They boast over a decade’s worth of greenhouse management experience, and apply their cultivation tech to produce contaminant free cannabis products. The company’s long term objectives include producing cannabis oil for export to cannabis-friendly countries.
CBD Fusions’ brands include Ink Cured, which is a CBD infused brand of care products designed for tattoo aftercare. The finalization of the LOI into an actual agreement is expected within the next three months after due diligence, legal and accounting matters have been dealt with.
Here’s Reza with some details:
Maple Leaf is down a half penny, and trading at $0.05.