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Livewire Ergogenics Inc (OTCMKTS: LVVV) Announced that the Group Has Inked a Letter of Intent to Take Over a Minority Stake in Makana Ola Farms in California

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Livewire Ergogenics Inc (OTCMKTS: LVVV) has announced that it has inked a Letter of Intent to take over a minority equity position stake in Makana Ola Farms (MOF) which is located in Humboldt, California. As a result, the group is left with the option of altogether acquiring MOF in the future.

Livewire Ergogenics Inc currently enjoys a 4.99% equity position in Makana Ola Farms

The Letter of Intent gives Livewire Ergogenics Inc 4.99% of an equity position in California-based Makana Ola Farms. Furthermore, the company will be eligible for a higher percentage of equity ownership depending on a few legal, commercial, and financial milestones. As per the terms and agreements of the acquisition deal, 10 million restricted shares of Livewire Ergogenics Inc will be issued and will stand transferable after the final arrangement of the minority position is sealed.

The minor equity position helps Livewire Ergogenics Inc expand its portfolio

The respective minority equity position acquisition will strengthen the cultivation facility that Livewire Ergogenics Inc currently holds. As a result, the company will gain an edge over its competitors in California. In addition, the corporate house will now have in its portfolio a cultivation facility with the capacity to grow the sun-grown craft category of cannabis that can be distributed throughout California.

CEO of Livewire Ergogenics Inc group comments on the development

CEO of Livewire Ergogenics Inc group, Bill Hodson, is happy with the latest equity position acquisition that the group currently holds. Hodson extended a warm welcome to Makana Ola Farms. He praised the farms and called them an expert team of growers who are passionate about their craft. The CEO went on record and shared that the team is responsible for ensuring that Estrella River Farms operates in Paso Robles. He added that the team raced against time to make sure that the Estrella River Farms is functional and added that the farm is all set to welcome its debut acre harvest, which is due anytime now.

Makana Ola Farms has received its initial approval and is awaiting its final approval from the state

It has come to light that Makana Ola Farms has completed all the formalities, following which it was granted the initial Humboldt County approval. However, it is due to receive its final approval. It is learned that it is in the last stage of the process. Once the license is sanctioned, the facility will be 100% operational.

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