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.
CytoDyn Inc (OTCMKTS: CYDY) Announces Study to Investigate Leronlimab for Triple-negative Breast Cancer Treatment
Post Views: 18 CytoDyn Inc (OTCMKTS: CYDY) has announced that there will be a study on the drug leronlimab and...
Curaleaf Holdings Inc (OTCMKTS: CURLF) Completes Acquisition of Los Sueños Farms
Post Views: 38 Curaleaf Holdings Inc (OTCMKTS: CURLF) has completed the acquisition of the most enormous outdoor grow in Colorado,...
BAE SYSTEMS ADR (OTCMKTS: BAESY) and Keep Scotland Beautiful Launch Cleaning Hub in Govan
Post Views: 14 BAE SYSTEMS ADR (OTCMKTS: BAESY), a designer, developer and manufacturer of aerospace systems used in space, land,...
Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF) Announces it Will Expand Distribution Following Passing of Assembly Bill 45
Post Views: 10 Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF) has announced that it will expand product distribution in California following...
BAE Systems Inc. (OTCMKTS: BAESY) Granted five-year $68.5 Million Air Traffic Control Contract
Post Views: 12 BAE Systems Inc. (OTCMKTS: BAESY) has been picked for a 5-year $68.5M indefinite-quantity, indefinite-delivery contract enabling it...
CytoDyn Inc (OTCMKTS: CYDY) Announces Appointments of New Chief Operating Officer and Senior Executive Vice President
Post Views: 30 CytoDyn Inc (OTCMKTS: CYDY) has announced that it has appointed Nitya Ray, Ph.D., to act as its...