Unified Global Corp Signs Letter Of Intent To Acquire Oregon Vertically Integrated Cannabis Operator
DENVER, CO and CALGARY, AB / ACCESSWIRE / October 21, 2021 /Unified Global Corp ("UGC") (OTC PINK:CHYL) announced today its that it signed a non-binding letter of intent to acquire its initial US cannabis business, located in Portland, Oregon. Be Wonderful Wellnessis a vertically integrated craft cannabis farming operation and retail establishment known for their consistent high quality cannabis production and retail sales throughout the State of Oregon.
"Be Wonderful is excited by this opportunity to continue our growth. This deal allows us to maintain our brand recognition and supports our efforts to grow living-soil cannabis. Upon closing we will also receive the benefits offered by a publicly traded company" stated Brian Hall, dispensary owner and Lead Grower on the farm who has over 20 years of experience in the cannabis industry. UGC will continue to utilize Mr. Hall's talents to oversee the highest quality production at his farming operation.
"Partnering with Be Wonderful is a significant step towards our objective of becoming a vertically integrated, profitable, regenerative cannabis operations that provide naturally grown cannabis from seed to sale," notes Kelly Blume UGC's Chief of Cultivation. "We are excited to have Brian and his team in our collective. They bring a passion for the plant and the desire to grow cannabis that is in harmony with our vision of what "top shelf" cannabis means," Blume stated.
Upon completion of this Oregon transaction and the closing of last week's announced Letter of Intent to acquire a Canadian dispensary chain, UGC would become the world's first Canadian-American Multistate Operator (Can-Am MSO) with retail operations in two counties.
The Oregon transaction is expected to have two separate closings. Initially, UGC will acquire the real estate, including the farm and retail location, along with all of Be Wonderful's intellectual property. The second closing will occur upon the approval of the assignment of the applicable licenses by the OLCC. The anticipated purchase price, which is subject to adjustment, is expected to be approximately $2.4 million, which will be paid in cash and stock. While there are no assurances that either of the announced transactions will close. The first closing of the Oregon transaction is expected to occur prior to year end.
About Unified Global
Unified Global intends to become a vertically integrated Canadian/American Multi State Operator (Can-Am MSO) by consolidating cannabis operations in three markets from two countries., The Company's management is an experienced team with significant cannabis operating expertise.
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Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward- looking information in this press release including the inability or failure of Unified Global in completing the acquisition of the Cochrane Cannabis Company or Canmore Cannabis Company as described, or at all, the receipt of all applicable regulatory approvals for the transaction, including the AGLC's approval as required under applicable law, the inability or failure of Unified Global to execute their business and strategic plans as contemplated or at all, changes in national or regional economic, legal, regulatory and competitive conditions and a resurgence in the COVID-19 pandemic.
Other risk factors include: the risks resulting from the US marijuana industry, which may be legal under certain before the state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit Unified Global's ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of the Unified Global to service its current or future debt; Unified Global's ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.
The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. Unified Global undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
SOURCE:Unified Global Corp.
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