Indiva Ltd (OTCMKTS:NDVAF) has announced that they are delighted to have finalized an Equity investment of 9.9% in RetailGo Inc.
Acquisition of RetailGo
The arrangement requires Indiva to contribute ten leases for the proposed retail sites in Ontario, Canada. They expect to receive a five-year promissory note of approximately $730, 000 of the funds committed to date. They will equally receive an additional amount of $300,000 of the invested funds that will get repaid separately.
Indiva Director and COO, Koby Smultyo, will be the manager of RetailGo. Koby Smultyo is resigning from his current position as COO effective immediately to concentrate and focus his energies on RetailGo. Koby is among the co-founders of Indiva, and the company board applauded his efforts and contributions and wished him well in his new obligations.
Indiva to leverage the liberalization of marijuana laws
The Indiva subsidiary has a license under the Cannabis Act, and they supply high-quality cannabis products and medical grade cannabis. Indiiva expects to become one of the leading global marijuana brands through the supply of high-quality marijuana products.
Following the liberalization of marijuana and hemp laws in Canada and the growing trend across the globe, the company is planning to expand the range of the products they offer to include other safe edibles as well as consumer-friendly cannabis products. For their Canadian market, the company plans to increase their production and enhance distribution of sapphire salt, Bhang chocolate as well as Ruby Cannabis Sugar as well as other novel products they will produce through joint ventures and license agreements respectively.
With the legalization of hemp and liberalization of marijuana laws internationally, the company plans to leverage this to continue producing cannabis products that positively impact on communities as well as improving lives. Indiva sees their Canadian market to be the center of their operations and a platform for the opening of new markets for their cannabis products.