(INDS.C) May 14, 2019 — Indus Holdings announced that it has signed a definitive agreement to acquire the assets of W The Brand (“W Vapes”), a multi-state manufacturer and distributor of cannabis concentrates, cartridges and disposable pens, in a cash and stock transaction. The transaction solidifies Indus’ position as a market leader and dominant force in the cannabis industry through the expansion of its operations beyond California into the cannabis-friendly states of Nevada and Oregon.
“We are excited to expand the Indus footprint as it creates further awareness to our brands and more opportunities for our incredible team,” commented Indus Co-Founder and Chief Executive Officer Robert Weakley. “Having established a dominant presence in the world’s largest cannabis economy, we are taking a natural step forward, and we’re excited to introduce Nevada and Oregon consumers to our lineup of award-winning Indus brands.”
Summary of Terms:
Under the terms of the agreement, Indus will acquire the assets of W Vapes with consideration to W Vapes shareholders consisting of $10 million in shares of Indus Holdings, Inc. common equity (based on a deemed value of CDN$15.65 per share) and $10 million in cash.
Through the transaction, Indus will acquire cultivation, manufacturing, and distribution licenses and operations in Las Vegas, Nevada and Portland, Oregon. All intellectual property and other operating assets of the Nevada and Oregon businesses will also be acquired.
Completion of the acquisition is subject to customary closing conditions.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.