- Folium is a Health Canada licensed cannabis cultivator with facilities located on Vancouver Island.
- Folium is nearing completion of the expansion of its existing cultivation facility, a further phase 2 expansion of the facility is expected.
VANCOUVER, BC / April 8, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ1)(OTCPINK:PEMTF) (the “Company“) is pleased to announce that it has acquired (the “Acquisition“) all of the outstanding share capital of 1244780 B.C. Ltd. (the “Target“). The Acquisition was completed pursuant to a share exchange agreement (the “Purchase Agreement“), dated April 7, 2020, and entered into with an arms-length third-party (the “Vendor“). The sole asset of the Target consists of a 20% equity interest in Folium Life Sciences Inc. (“Folium“), which is in the process of developing a licensed indoor cannabis production facility located on Vancouver Island. In consideration for the Acquisition, the Company has issued 21,000,000 common shares.
Folium is a Health Canada licensed cannabis cultivator with facilities located on Vancouver Island. Folium is nearing completion of the expansion of its existing cultivation facility. Its business plan calls for a further phase 2 expansion of the facility. Folium aims to produce a high quality and consistent cannabis product through its facilities.
“Canada has been a pioneer in legalization and early adoption of cannabis for both recreational and medical purposes. This equity position in a well-capitalized licensed producer provides Mota with a sound financial investment in the sector.” stated Ryan Hoggan, CEO of the Company.
Each of the Vendor, the Target, and Folium are at arms-length from the Company. The Acquisition does not constitute a fundamental change for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with completion of the Acquisition, the Company has issued 210,000 common shares (the “Administrative Fee Shares“) to a consultant who assisted with the Acquisition.
About Mota Ventures Corp.
Mota Ventures is seeking to become a vertically integrated global CBD brand. Its plan is to cultivate and extract CBD into high-quality value-added products from its Latin American operations and distribute it both domestically and internationally. Its existing operations in Colombia consist of a 2.5-hectare site that has optimal year-round growing conditions and access to all necessary infrastructure. Mota is looking to establish sales channels and a distribution network internationally through the acquisition of the Sativida and First Class CBD brands. Low cost production, coupled with international, direct to customer sales channels will provide the foundation for the success of Mota Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.
Joel Shacker
President
For further information, readers are encouraged to contact Joel Shacker, President, at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
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