Denver, Colorado--(Newsfile Corp. - August 31, 2021) - CBD of Denver, Inc. (OTC Pink: CBDD), a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland and Europe, is pleased to give an update on its planned acquisitions:
As announced earlier this year, CBD of Denver is planning to make further acquisitions in Switzerland and Europe. The Company has considered approximately 10 potential targets in recent months and began the due diligence process for one in June 2021. Through this process it became apparent that this company's originally communicated figures were incorrect and that it was significantly indebted. Due to these facts, the due diligence process was aborted by CBD of Denver. This target company has since fallen into liquidation and CBD of Denver remains interested in certain assets of the organization, and we are pursuing the liquidation process of this company in order to buy out specific assets if available.
In mid-July 2021, we started the due diligence process for a second company that would be an optimal addition to our group. The current findings confirm this assumption and also the figures of this company correspond to the originally communicated values according to the current state of knowledge. We will complete our due diligence process in the coming weeks and have started the negotiation process with the owner about a possible takeover and the appropriate conditions.
In addition, we currently have two other companies that have been identified as interesting takeover candidates in our general review and we expect to start the due diligence process and an in-depth review of these companies in the coming weeks.
"The cannabis market in Europe is currently in a state of flux," states Marcel Gamma, CEO CBD of Denver. "We see new interesting opportunities and acquisition candidates every week, which we are seriously evaluating and questioning in detail the benefits as a complement to our group. We continue to pursue the strategy of accretive acquisitions to create the highest possible value for the company, our investors and shareholders in the medium and long term."
CBD of Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn.
About CBD of Denver, Inc.
CBD of Denver, Inc. (OTC Pink: CBDD) a full-line CBD and Hemp oil company ("CBDD") and a producer and distributor of Cannabis and CBD products in Switzerland and Europe. CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis.
Through our brand Rockflowr and BlackPearlCBD we reach our consumers and have built up a strong customer base by focusing on top quality products and meaningful customer relationships.
Black Pearl CBD has 0% THC but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry and only available at www.cbdofdenver.com.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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